Headlines

During its fiscal third quarter earnings call today, General Mills reported a continued focus on its “Accelerate” strategy, a growth model that includes brand building, innovating, scaling and being a “force for good.” The company also discussed changes to its Yoplait operations and financial structure and offered a look at how pandemic-driven consumer habits have continued to impact sales across several categories and channels.

This month, Evolve, Cytosport’s plant-based protein platform brand, will debut a new brand identity and reformulated products across its range, beginning with its core shake line. With dairy-based Muscle Milk experiencing double-digit sales declines, according to Nielsen data, Evolve is positioned to be Pepsi’s primary growth driver in plant-based protein, a space that includes players like OWYN, Koia, Orgain and Aloha.

Given the plethora of pasta options available, it can be daunting to think about how a brand can add incremental value to the set or best appeal to shoppers. In this month’s Category Closeup: Expert Analysis, we’ll hear from a group of industry leaders about these quandaries and more, exploring the market dynamics facing pasta brands as well as how the Covid-19 pandemic has impacted consumer shopping behaviors.

The last year has caused upheaval to many aspects of the food and beverage industry. But one element that doesn’t seem to be impacted is investing, with business analytics firm CB Insights finding that funding to the sector is on the rise.

After selling its Austin, Texas manufacturing facility last November, veggie noodle and rice brand Cece’s Veggie Co. is making another major change. Cece’s founder Mason Arnold announced this month that he has stepped down as CEO of the company, with president Wade Groetsch taking over to lead the company in its next stage of growth as it seeks expanded distribution and new innovation.

Chobani has teamed with PepsiCo to further its ambitions in the refrigerated space through a pilot distribution program that will take the yogurt maker’s products into convenience retailers, colleges and universities across the Northeast starting this month.

In this week’s Checkout, Asian and Hispanic e-grocer Weee! raises $315 million; Meatless Farm opens a new Canadian plant and launches ingredient subsidiary Lovingly Made Ingredients; Once Upon a Farm ages up with a brand refresh; and Fridge No More closes a $15.4 million funding round.

Though Cheetos, Doritos and Gatorade are a big part of PepsiCo’s billion dollar foundation, the global snack and beverage company has shown through various approaches that it believes there’s a need to also focus on nascent categories. The company has spent the last two years retooling The Hive, its latest emerging brands division. Now Hilo, the first brand to emerge from the incubator, is ready to spread its wings, moving into brick and mortar retail and, this week, launching new products.

In this episode of Market Share, host Carol Ortenberg, the editor of NOSH, will speak with Tyler Merrick, CEO and founder of candy company Project 7. The two discuss how the brand has evolved over the years in order to command a more premium price point and better resonate with shoppers.

Earlier this year investors made a $30 million bet that Swedish zero sugar snack and ice cream brand Nick’s can make zero-sugar products that will make American consumers stand up and take notice. Now the company is starting that process, this week announcing it will launch protein bars in the US market.