Lukas Southard

The USDA’s purview is regulating agricultural products and livestock that become food, but its reach in the industry stretches into other areas of health, nutrition, food access and safety. Here is a brief explainer about some of the current administration’s priorities pertaining to CPG food.

Ben & Jerry’s has named its longtime CMO as the new top executive, signaling that the company will continue highlighting its role as an outspoken voice for social activism.

Beyond Meat was issued a class action lawsuit by institutional shareholders alleging that the plant-based meat company’s executives knowingly misled its investors about the strength of the company’s manufacturing and foodservice partnerships while, in the process, profiting on the inflated share price.

A bipartisan bill in Congress will offer SNAP recipients access to frozen produce, Motif FoodWorks is launching a foodservice portfolio of its plant-based meat products and NFL quarterback Aaron Rodgers’ private equity firm RX3 Growth Partners announces a $150M fund II.

Beyond Meat showed “solid progression” in its goal to become cash flow positive despite a net loss for Q1 2023 while also announcing a $200 million “at the market” new stock offering to help bolster its cash reserves.

Hain Celestial has downgraded its full-year 2023 guidance after posting a net sales of $455.2 million Tuesday morning, down about 9% from the same period last year.

Last week, ingredient company Sweegen received GRAS status for its new Ultratia line of brazzein sweeteners that claim to be 500 to 2000 times sweeter than regular sugar, marking another step forward in the race to create the next generation of better-for-you sugar alternatives.

Target announced its Takeoff Food and Beverage Accelerator program class of 2023. The mentorship program will help 10 emerging food and beverage brands successfully improve branding and marketing strategies.

Omsom is taking its unique branding approach to the quick-ready meal category with a 4-SKU line of Saucy Noodles, marking the brand’s first major line extension since the company hit the market in May 2020.

The Good Food Institute’s yearly report on the fermentation-based food industry showed a growing market share in new protein alternatives but a lack of funding and production capacity hampers widespread adoption.