News Roundup: Brazi Bites Launches Latino Entrepreneur Accelerator; PepsiCo and ADM Team Up On Regenerative Ag

Brazi Bites Launches Latino Entrepreneur Accelerator

Latina-founded food brand Brazi Bites announced the debut of its Latino Entrepreneur Accelerator Program in celebration of Latin Heritage Month. The program will select one better-for-you Latino founder to receive a $10,000 business grant in addition to 12-weeks of mentorship with Brazi Bites co-founder and CMO Junea Rocha.

“As a Latina founder, I know firsthand the challenges this community faces when it comes to getting a business off the ground, and our Accelerator Program is a step to support the incredible contributions that Latino business owners make in the U.S,” said Rocha in a press release. “This minority community is critical to the fabric of our culture and economy, and this program is intended to give entrepreneurs tailored support at the most critical time.”

Applications are open now through October 28. Three runner ups will be selected as well and will receive a profile feature on the brand’s website in addition to social, email and press exposure, the company said in a press release.

The company specifically highlighted the challenges Hispanic entrepreneurs face in securing funding to grow their businesses. According to the Stanford Latino Entrepreneurship Initiative, only 20% of Latino-owned businesses were approved for bank loans in 2020 compared to the 50% of white-owned entities that received funding. Additionally the company cited data that found the number of Hispanic-owned businesses has grown 34% over the last decade and now represent one of the fastest-growing segments of small businesses in the U.S.

Brazi Bites was founded in 2010 and makes Latin-inspired, gluten-free, better-for-you foods including Brazilian Cheese Bread, Pizza Bites, Empanadas and Breakfast Sandwiches. The brand’s products can be found at over 16,000 stores nationwide including Whole Foods Market, Target, Costco, Wegmans, Publix, Kroger and more.

PepsiCo and ADM Team Up On Regenerative Ag Initiative

Global corporations ADM and PepsiCo announced a new 7.5 year agreement to expand regenerative agricultural practices across 2 million acres of their shared North American supply chains by 2030. The program will begin with corn, soy and wheat farmers in Kansas, Minnesota, Iowa, Illinois, Indiana and Nebraska with room for future expansion.

This agreement supports both companies’ carbon reduction goals and includes capabilities that span across food and agriculture. It will also see the creation of a “large-scale platform to support farmers’ transition to regenerative agriculture,” according to a press release. Through this platform the companies aim to collaborate and share resources offering technical and financial assistance, educational opportunities, and data and result measurements from third-party systems.

“At its core, PepsiCo is an agricultural company, working to spread regenerative agriculture practices that restore the earth and reduce carbon emissions to 7 million acres by 2030,” said Jim Andrew, chief sustainability officer at PepsiCo, in a release. “This partnership with ADM marks a sea change in how PepsiCo engages with strategic partners and is expected to help us reach almost one-third of that goal. By enabling greater collaboration through strategic partnerships like this one, we can strengthen the livelihoods and resilience of the farmers we work with, while building a more sustainable future together.”

The multi-year “farmer-first” initiative will support the use of common regenerative farming practices like cover crops, reduced tillage, nutrient management, diverse rotations and reduced pesticide use.

“Our growth strategy is underpinned by demand for more sustainable products, and our culture compels us to act,” said ADM chief sustainability officer Alison Taylor, in a press release. “Today’s announcement is a major step forward, as we work with a partner whose values align with our own to scale up regenerative agriculture in a way few other companies can.”

Kroger Consolidates Low-priced Private Label Lines With Smart Way

Retail giant Kroger announced a new “opening price point” private label line known as Smart Way this week, bringing 16 of its legacy private brands within its Our Brands lineup, under a uniform identity.

“As our customers face an ongoing inflationary environment, we know they are looking to stretch their dollars further than ever before,” said Stuart Aitken, Kroger’s SVP and chief merchant and marketing officer, in a press release. “Smart Way is an exciting, eye-pleasing product line that will be easy for customers to find. By adding a simplified opening price point brand strategy to Our Brands portfolio, we will further cater to every customer, every time.”

Kroger’s Our Brands portfolio also includes its own namesake line, Simple Truth, Private Selection, Home Chef and Heritage Farm. Smart Way currently features approximately 150 products with more to come later this fall, the company said.

“We are confident Smart Way will have something for everyone,” said Juan De Paoli, VP of Our Brands for Kroger, in the release. “From canned vegetables and bread to juices and staples, this new product line features the products families need to put an even more affordable meal on their table.”

Barkley Acquires Smiths Agency

Creative idea agency Barkley has acquired food and beverage focused marketing firm Smiths Agency to bolster its expertise in the industry. Smiths’ 45 employees and full client roster, which includes Premier Protein, Spangler Candy (including the Dum-Dums brand), Amy’s Kitchen and Eggland’s Best Inc., will join Barkley per the deal.

Pittsburgh-based Smiths will also merge its office with one of Barkley’s existing offices in the city to create a mid-Atlantic based food and beverage-focused team of 60 employees.

“We’re excited to bring Whole Brand Thinking more broadly into the food and beverage category,” said Jeff King, CEO of Barkley, in a press release. “Our modern consumer focus combined with Smiths category expertise will combine to benefit current and future clients.”

“This acquisition is the natural next chapter for our 20-year agency, allowing us to tap into the benefits of a larger, national network and the strategic resources that Barkley has to offer,” added Lindsey Smith, co-chief creative officer at Smiths Agency, in a press release. “The fact that Barkley already had a presence in our hometown of Pittsburgh and is committed to growing in this market — that was icing on the cake.