News
Food and beverage industry news.
Hormel Foods Announces Changes to Operating Structure Amid Transition into ‘Global Branded Food Company’
Austin, Minneapolis-based Hormel Foods announced today it will transition to three operating segments – retail, foodservice and international – as it moves further beyond meat products and evolves into a “global branded food company.”
Inflation: Consumers Turn to Bargain Hunting as Grocery Prices Rose Again in July
Despite some relief for consumers in other economic sectors, food and beverage prices continued to increase in July, up 1.2% month-over-month, according to a new inflation report by market research firm IRI. Even as the price of other household necessities like gasoline have begun to fall, grocery prices remain elevated – up 14.4% year-over-year… Read more »
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Taste Radio: What Does It Take To Lead A Revolution? If You’re ‘Good,’ A Star And Lots Of Farms.
Heather Terry, the founder and CEO of ambitious platform brand GoodSam Foods and the co-founder of trailblazing chocolate company NibMor, spoke about why acknowledging a lack of business acumen is important for early-stage founders, why adhering to brand mission is paramount to an operational strategy and how GoodSam aligns with consumers and retailers that embrace its vision.
Mackey Recruits WFM Execs To Form Wellness Hospitality Company
Alongside several former Whole Foods executives, including his former co-CEO Walter Robb, John Mackey will open a chain of wellness centers and restaurants next year. Under Mackey’s leadership, Whole Foods has launched various travel and wellness offerings.
As Nespresso Joins, B Corp Faces Questions About “Integrity and Relevance”
In April, Nespresso announced it was now a B Corp certified company creating a backlash among other B Corps who say the B Lab’s assessment process is “in serious need of repair” and the seal is being used to “greenwash” some companies.
Distribution: Laoban Dumplings Adds 250 Doors Nationwide; Mylk Labs Lands in Select Whole Foods Market and Target Stores
All four flavors from the Laoban’s core set of dumplings have entered a variety of stores in the past few months, including: King’s & Balducci’s, Earthfare, Tony’s/Woodman’s/Sendik’s, Plum Market, Central Market, Met Market, New Seasons and Bristol Farms/Mother’s Market.
Beyond Meat Looks To Cut Costs While Sales Keep Sliding
Plant-based meat sales continue to trend downward for Beyond Meat during the second quarter, with revenue declining 1.6%. As a result , the company has cut back manufacturing costs and laid off approximately 4% of its workforce.
The Checkout: Whole Foods Settles $15M Dairy Supplier Case; Del Monte Acquires Kitchen Basics
In this week’s Checkout: Whole Foods settles breach of contract suit with former dairy supplier with $15M payout, Del Monte acquires Kitchen Basics brand amid heightened soup sales, Naturally Network and NielsenIQ launch national fellowship to support minority CPG entrepreneurs and Tabasco and Instacart foray into fashion with new swag.
Notable New Products: Mediterranean-inspired Olive Oil Cake Mixes & Salmon Hot Dogs
This week’s notable new products saw brands creating better-you iterations of the classic hot dog, launching Mediterranean-inspired baking mixes and adding new flavors to their existing snack lineups.
Class Action Alleges DFA Has Acted as Raw Milk Monopoly in Northeast
Dairy Farmers of America (DFA) is the target of a class action antitrust lawsuit filed last week, alleging the largest national dairy cooperative has acted or has tried to act as a monopsony by constraining the Northeast raw milk market. The complaint, filed on July 29 in the U.S. District Court in Vermont, claims DFA… Read more »