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Food and beverage industry news.
The Checkout: Waka Coffee & Tea Secures Funding; Cell-grown Cocoa Maker Partners With CULT Food Science Corp
In this week’s Checkout: instant coffee and tea maker Waka jumpstarts growth with pre-seed funding; California Cultured receives investment from food tech investment platform CULT Food Science Corp; Kodiak partners with Pro Athletes Joe Burrow, Travis Kelce, among others; and ice cream manufacturer recalls dozens of SKUs due to Listeria contamination.
Notable New Products: Mini Bacon Sticks, Hoppy Hot Sauce and Chickpea Cascatelli
Although the trend of low-sugar foods continues to gain momentum, that does not mean consumers are willing to forgo sweets altogether. Check out the latest from brands including Cocomels, Ruby Jewel and Highkey.
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New Formats And Ingredients Reach The Alt-Protein Market This Week
Whether it’s for the good of the planet or for a specific health benefit, consumer demand for animal-free proteins continues to increase, according to food company ADM. Here are a few updates from the alt-protein market this week.
Binske Hones in on High-End Edibles With Intelligentsia Collaboration
The Colorado-based brand is one of dozens of emerging players dealing in super-premium recreational cannabis, including flower, pre-rolls and extracts. But in forming a partnership with specialty coffee roaster Intelligentsia to collaborate on new products – the first being a cannabis-infused chocolate bar with espresso shavings, which began rolling out at dispensaries in Colorado, Nevada and California last month – the self-styled “luxury cannabis” brand is aiming to distinguish itself as a leader in boutique, artisanal edibles.
Beanfields Acquired by Boosh Plant-Based Brands
Snack brand Beanfields has been acquired by Vancouver-based Boosh Plant-Based Brands Inc.. The deal, which was announced last week, officially closed on Wednesday.
GrandyOats Rebrands, Sees Ownership Changes
GrandyOats is now GrandyOrganics, a move the 47-year-old snack and cereal maker said will allow it to better move beyond its flagship line of granola.
IRI: CPG Sales Rise in 2021; Unilever, Hershey Among Top Brands
The total U.S. CPG industry grew 2.7% to $962 billion in 2021 as pandemic-related shifts in consumer behavior and routes to market began to cement themselves, according to the latest CPG Growth Leaders report by market research firm IRI. The 52-week sales growth reflected an anticipated slowdown from 2020, when sharp spikes in retail sales… Read more »
How No Evil Is “Renewing” Its Focus On The Future With New Look and Product
Plant-based meat maker No Evil Foods introduced a new look, updated its packaging and entered the alt-beef category this week with the launch of a line of vegan beef strips called “Best Life.” These changes arrive after a year of financial challenges for the North Carolina-based company.
Next Gen Foods Raises $100M to Push into U.S. Market
Despite launching during the COVID-19 pandemic, plant-based protein brand Next Gen Foods isn’t slowing down. The Singapore-based company announced today it has raised $100 million, in part to finance the launch of its plant-based chicken brand TiNDLE into the U.S.
KOS Closes $12M Round, Clayton Christopher Joins Board
Plant-based products brand KOS announced today it has closed a $12 million Series A financing round led by food and beverage industry veterans Clayton Christopher and Brian Goldberg. The two investors are now playing active roles in guiding the brand’s strategy, KOS co-CEO Allan Stevens said in a phone call. Christopher, a co-founder of CAVU… Read more »