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Food and beverage industry news.
Mondelēz Invests In Hu Kitchen and Products
Just over a month after taking a stake in Uplift Foods, Mondelēz announced today its second investment in Hu Master Holdings, the parent company of both CPG brand Hu Products and fast-casual restaurant concept Hu Kitchen. Hu Chairman and Co-Founder Jason Karp told NOSH the investment will allow the emerging brand to scale and increase accessibility of its products.
Back to the Roots to Help Consumers Grow Hemp Superfoods
Back to the Roots this week announced the launch of its Organic Hemp Starter Grow Kit. The kit allows consumers to grow five hemp plants that can be used to produce hemp oil, hemp tea or hemp hearts.
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Elevator Talk: Bright Foods Differentiates with HPP Whole Fruit and Vegetable Bars
Brenden Schaefer is the Founder & CEO of Bright Foods, a line of refrigerated bars made with whole organic fruits and vegetables, adaptogens, probiotics and prebiotics. The brand’s clean label, vegan and gluten-free HPP products launched less than a year ago in Whole Foods.
Sweet Leaf Founder Christopher Leaves CAVU
Clayton Christopher, the founder of Sweet Leaf Tea and Deep Eddy Vodka, told BevNET that he’d left an active role within the CAVU organization earlier this year, although he is continuing to work as a board member and advisor to the brands in his portfolio from CAVU’s first two investment pools.
Tessemae’s Moves into Center Store
Organic food producer Tessemae’s is ready to move on to the next stage — a warmer one. Today the brand announced it will begin selling shelf-stable products with the launch of Tessemae’s Pantry, a new line of salad dressings. The company is also reformulating its condiments line to be shelf-stable.
Conagra Investor Day Shows a Future of Snacks & Frozen Food
Conagra, America’s fourth-largest food company, revealed upcoming product innovations, homing in on healthy and sustainable solutions for snacking and mealtime.
Bolthouse Farms Sold to Butterfly Equity for $510 Million
Los Angeles-based private equity firm Butterfly signed a definitive agreement today to acquire Bolthouse Farms from Campbell Soup Company for $510 million in cash — roughly $1 billion less than what the soup conglomerate paid when it acquired the 104-year-old food and beverage brand in 2012.
Lenny and Larry’s Proposes Updated Settlement
Protein snack producer Lenny and Larry’s has upped the cash reimbursement available to consumers in a settlement offer in order to conclude litigation around the product’s protein claims. The changes came after the U.S. Department of Justice’ Consumer Protection Branch urged a federal judge in Illinois to reject the company’s previous offer as too low.
Taste Radio Insider Ep. 29: Why This Two-Second Business Pitch Is So Powerful
In this episode, Chris Hollod, a venture capitalist focused on early-stage consumer brands, discussed his investment philosophy and why digital strategy is at the top of his list when evaluating brands. He also explained why he believes that his job requires him to not only to follow and facilitate innovation, but to predict it.
Soup’s On: Kettle Cuisine Acquires Harry’s Fresh Foods
Kettle Cuisine, a New England-based producer of refrigerated and frozen, natural soups, sauces and entrees, announced this week its acquisition of Harry’s Fresh Foods, an Oregon-based custom food manufacturing company.