Lukas Southard
Lukas Southard is a Reporter covering the food and beverage industries across BevNET and NOSH.
Posts by Lukas Southard
Oatly: Supply Chain Strategy Shift Paying Off In Margins
Swedish oat beverage maker Oatly announced that revenue increased 4.9% year-over-year to reach $195.1 million in Q4, while also informing investors that it had secured $425 million in financing commitments that will allow the business to grow as it looks to reach “self-sufficiency.”
Plant Protein Maker Merit Functional Foods Announces Receivership
Canadian pea and canola plant protein maker Merit Functional Foods has been placed in receivership with creditors filing court order Wednesday.
FDA: Updates Restructured Human Foods Program, Withdrawing Aged Food Standards Rule
On Tuesday, the FDA announced its progress on restructuring the Human Foods Program consolidating food safety enforcement under one leadership role and streamlining operations internally and in the field.
Beyond Meat: Q4 Report Lends Optimism To Future Earnings
Beyond Meat executives expressed renewed confidence that the company’s “decisive actions” to prioritize positive cash flow above growth is beginning to work even as the company announced net revenues of $79.9 million, a decrease of -20.6% from Q4 2021.
Arms Race: Cultivated Meat Companies Battle To Grow Production Space
Cell-cultivated protein companies appear to be locked in a race to build commercial-scale production plants, even as the industry awaits full regulatory approval from both the FDA and the USDA, reflecting the long and complex road towards widespread commercialization and price-parity with conventional meat and seafood.
FDA: ‘Continuing Concerns’ About Smucker’s Peanut Butter Facility Tied to Outbreak
The FDA has requested further answers from The J.M. Smucker Company about the company’s food safety response in the wake of a Salmonella outbreak that led to a Jif brand peanut butter recall in May 2022.
Unilever Names New CEO, Reaffirms Food Brands Strategy
Unilever has appointed former H.J. Heinz executive Hein Schumacher to lead the CPG company effective July 1 reaffirming the multinational company’s commitment to its food brands.
Albertsons: WA Supreme Court Clears Way For $4B Dividend
The Washington State Supreme Court has cleared the way for Albertsons to pay out a $4 billion shareholder dividend after it sided with a lower court trial judge in declining the state attorney general’s request to appeal an injunction on Tuesday.
Deloitte: Profitable Growth Will Drive 2023 CPG Industry
Global accounting firm Deloitte’s recent 2023 CPG industry outlook reported that profitable growth is the top priority food and beverage brands as they continue to navigate supply chain disruptions and economic uncertainty.
Kerry Sells Sweet Ingredients, Focused On Nutrition Wellness
Kerry Group announced last week its intention to sell its sweet ingredients portfolio in order to further focus on functional ingredients and innovation in biotechnology for food.