Martín Caballero

Texas-based Dean Foods, the largest milk processor in the U.S., has filed for Chapter 11 bankruptcy protection. The dairy producer announced yesterday it will use the process to “protect and support” ongoing business operations and address debt and pension obligations.

Specialty food company Stonewall Kitchen this morning announced an agreement to purchase the Vermont Village brand, a producer of organic applesauce and raw apple cider vinegars, from parent company Village Cannery of Vermont. Terms of the deal, which is expected to close in September, were not disclosed.

This month, San Diego-based Sunday Scaries, which produces CBD infused tinctures and gummy supplements, introduced its first ready-to-drink product: YOLO, a 2 oz. shot that pairs 50 mg of full spectrum CBD with a 200 mg dose of natural caffeine.

Yogurt maker Chobani is collaborating with Fair Trade USA on a new label that certifies the milk used in its products is sourced from farms that meet “comprehensive” standards for animal welfare and employee rights.

Boulder, Colo.-based premium instant tea maker Cusa Tea has completed a $2.5 million Series A funding round led by Break Trail Ventures and S Cap, the company announced yesterday.

Outgoing U.S. Food and Drug Administration (FDA) chief Scott Gottlieb today announced new steps towards clarifying and constructing a legal framework around cannabis and cannabis-derived products, including the formation of an exploratory group examining CBD supplements and foods, and a public hearing for “stakeholders to share their experiences and challenges with these products.”

During the company’s annual investor meeting, Starbucks Coffee today announced the launch of Valor Siren Ventures L.P. (VSV), a new $100 million fund to support “the next generation of food and retail start-up companies.”

CytoSport, founded in 1998, was acquired by Hormel in a deal valued at $450 million in 2014. The company markets a variety of protein-focused sports nutrition products under the Muscle Milk brand, including powders, ready-to-drink beverages and bars.

Roughly one year after joining Forager Project as the company’s chief marketing officer, Alex Matthews has departed the plant-based food and beverage brand to launch Here Studio, a multi-faceted branding, design and CPG product development house in Los Angeles.

At the first-ever Cannabis Forum for Food & Beverage, a panel of four speakers — Adam Miron, co-founder and chief brand officer of HEXO; Hesaam Moallem, president and CEO of Charlotte’s Web; Errol Schweizer, co-founder and partner in mood33; and Evan Eneman, founder of Sands Lane Capital — came together to examine how cannabis is developing into a cooperative industry even at an early stage.