Carol Ortenberg

Last week Chuck Muth, Chief Growth Officer at Beyond Meat, announced he had retired from the plant-based brand after four years. Muth will remain on the boards of several notable food and beverage brands, including Beyond Meat’s own joint venture with PepsiCo.

Online retailer Boxed announced today that it would become a publicly traded company via a merger with SPAC Seven Oaks Acquisition Corp. Seven Oaks said Boxed is expected to grow at a compound annual growth rate (CAGR) of 33% over the next five years, ultimately achieving $1 billion in net revenue by 2026.

Faire, an online marketplace for retailers and brands, announced yesterday that it had closed an additional $260 million in funding. With this funding, Faire is valued at $7 billion, the company stated.

This week Clio Snacks expanded an ongoing recall of its chilled yogurt bars to almost all SKUs. The cause of the issue is connected to Clio’s chocolate production line, according to the company’s CEO and co-founder, Sergey Konchakoviskiy.

In the quest for a better-for-you pizza crust, it looks like cauliflower could be facing stiff competition from the chickpea. Yesterday pasta and pizza brand Banza announced its chickpea pizza crusts would be added to the menu at Oath Pizza, replacing the chain’s gluten-free and cauliflower crust options.

With its use of egg whites as a protein source and front of pack “ingredient” list, RXBAR disrupted the bar category and inspired a slew of imitators. But now the Kellogg’s owned brand is saying so long to both signature elements for the launch of a new, plant-based line extension.

Online grocery service Hungryroot announced today that it had closed $40 million in funding from the growth fund of venture firm L Catterton. The company projects it will have $175 million in revenue this year.

New Barn Organics didn’t buy the farm, it sold it.. The company revealed today it had sold its assets to egg producer NestFresh earlier this quarter. It’s a move that will allow the two companies to offer retailers — and consumers — a larger suite of fresh items and allow New Barn’s shareholders to continue to hopefully see a greater financial upside.

Over the weekend meat producer JBS USA announced it had been the target of a cyber security attack with some of the servers supporting its North American and Australian businesses being taken offline. Over the past year meat supply chains have already been strained by the Covid-19 pandemic, so the cost of yet another interruption may be high, particularly for meat snack brands where margin has already been a struggle.

We’re featuring innovative brands that produce frozen entrees during our Product Showcase portion of Category Close-Up, examining the trends and news — as well as evolving product strategies — that are currently shaping the category.