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Food and beverage industry news.
Distribution Roundup: Yolélé Brings Flavors of Africa To Target; African Dream Foods Announces Zoo Partnerships
In this week’s distribution roundup: Yolélé launches its West African inspired products at Target, African Dream Foods partners with zoos across the country, Blue Apron innovates with Amazon Alexa, Bubbies introduces its mochi to Publix and more.
Walmart Sets Goal to Reach Zero Emissions, Encourages Suppliers to ‘Take Action’
Walmart broke down its approach to climate change initiatives during an ESG-focused discussion for investors earlier this month, committing to reducing its emissions company-wide to zero by 2040 and actively assisting its suppliers with climate-positive innovations.
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Good Crisp Closes Funding To Push Into Conventional Retail
Salty snack brand The Good Crisp Company announced last week that it has closed what it described as its largest funding round to-date as it seeks to make the jump from natural retailers into conventional grocery.
Harmless Harvest Looks To New Day Parts with Dessert Launch
As part of its goal to utilize more of its star ingredient, coconut-based product brand Harmless Harvest has announced the launch of a line of coconut puddings.
Future Meat Closes $347 Million Funding Round
Isreali food tech company Future Meat announced today it has raised $347 million in Series B funding co-led by ADM Ventures, the investment arm of global food processing company Archer-Daniels-Midland, with participation from Menora Mivtachim, S2G Ventures, Tyson New Ventures, among others.
The Checkout: OmniFoods Partners With Nonprofits; Kraft Heinz Acquires Majority Stake of Just Spices
In this week’s Checkout: OmniFoods partners with nonprofits to support food insecure communities, Kraft Heinz acquires majority stake of Just Spices, Abbot’s Butcher receives the first Whole30 Approved Certification for plant-based meat and tech company Lumi acquired by Navar.
Campbell’s Said It Will Focus On The Familiar For Future Growth
The Campbell’s Soup Company is more focused and a “much stronger company” today than it was three years ago, said President and CEO Mark Clouse during the company’s Investor Day event Tuesday.
Oddlygood Raises $28M, Looks to Expand U.S. Presence
Alt-dairy producer Oddlygood wants to be the next alt-dairy dynamo, and now it’s got the cash to do so. The Finnish company announced today that it had raised $28 million from Mandatum Asset Management (MAM) with plans to invest it into a U.S. expansion.
J.M. Smucker Co. Divests From Natural Beverages, Grains
The J.M. Smucker Company continued to cull its CPG brand portfolio today with the announcement of an agreement to sell its natural and organic beverage and grains business to venture group Nexus Capital Management in a cash deal valued at around $110 million.
Multicultural Consumers “More Willing” To Embrace Plant-Based Alternatives, Danone Study Finds
Plant-based diets are on the rise among multicultural consumers, according to a new study published last week by Danone North America. However, results suggest there is a gap in the market caused by a lack of culturally diverse plant-based food innovation, cultural stigmas and barriers to access including product affordability and education.