The Checkout: Nuts For Cheese Raises $5 Million; Smallhold Opens New Urban Farming Facility
Welcome to The Checkout: an express lane for the weekly news you need to know, always 10 items or less.
Nuts For Cheese Closes $5.35 Million Funding Round
Plant-based premium dairy maker Nuts For Cheese announced this week it secured $5.35 million in capital. The round was led by Forage Capital Partners with additional participation from CPG veterans Mike Fata and Dror Balshine. Per terms of the deal, Nuts for Cheese will implement a board of directors, with Fata serving as chairman.
The new capital will be invested in new CAPEX for equipment and facility enhancements, according to the brand, in addition to bringing on new team members and supporting marketing and innovation initiatives.
“Nuts For Cheese is exactly the type of creative and innovative company that Forage loves to invest in,” said Jim Taylor, partner at Forage Capital, in a press release. “Forage is really excited to invest in a leading vegan cheese company that provides consumers with a real food alternative to traditional cheeses.”
The Canada-based brand self-manufacturers its entire lineup of fermented chase based cheeses and butters. Nuts For Cheese uses house-made cultures to create artisanal, organic dairy alternatives that do not contain any starches, gums, fillers or artificial flavors. The brand’s cheese lineup includes Un-Brie-lievable, Smoky Gouda, Black Garlic, Artichoke & Herb, Super Blue and Chipotle Cheddar varieties in addition to its three-SKU Nuts For Butter line in Salted, Unsalted and Herb & Garlic flavors.
“From the early days I’ve worked hard to surround myself with the right partners,” said Margaret Coons, CEO and founder at Nuts For Cheese, in a press release. “It’s been such a journey, from a rented commercial kitchen to building out our current 25,000 square foot facility. What once looked huge to me is now quickly becoming ready for more expansion. This investment comes at a perfect time for us to be able to keep pace with our growth.”
Smallhold Expands Urban Mushroom Farming Operation
Indoor agricultural technology company Smallhold announced the opening of a 34,000 sq. ft organic mushroom farming facility in Vernon, California this week. The five-year old company also operates facilities in Austin and Brooklyn and began distributing its organic mushrooms to Southern California retailers in May.
With added production capabilities, Smallhold will begin distributing its organic mushrooms to 90 stores in the region including Whole Foods, Erewhon, and Lassen’s. The mushrooms will also be available on ecommerce platforms like Good Eggs and Imperfect Foods, among others.
“We’re excited in our partnership with Smallhold whose value for quality and mission are in line with our stores,” said Edward Palomo, Produce Director at Erewhon, in a press release. “Smallhold has taken mushroom growing operations to a whole new level in being able to provide us and our customers with the highest quality and unique mushroom varieties available.”
The new facility, which is located less than a mile outside downtown Los Angeles, will contribute to Smallhold’s goal to bring localized solutions to mitigate global supply chain disruptions, according to a press release.
“This is a huge step for Smallhold, a business we founded 5 years ago inside a shipping container under the Williamsburg Bridge,” said Andrew Carter, Smallhold CEO and co-founder, in a press release. “Having grown up in Los Angeles myself, it’s exciting to bring our mushrooms to my environmentally-conscious, culinary-focused hometown.”
Smallhold products are now available in over 400 retail stores including select Whole Foods, Safeway/Albertsons and Central Market locations.
DouxMatok and Batory Foods Partner For Commercial Incredo Sugar Launch
Isreal-based food tech company DouxMatok announced it has secured its second commercial partnership for its alternative sugar ingredient, Incredo Sugar, this week.
Ingredient supplier Batory Foods now offers the cane sugar ingredient, which is said to achieve the same level of sweetness but contains half as much sugar as traditional cane sugar, to food makers aiming to reduce sugar contents in products such as snacks, cookies, chocolate, candy, spreads and protein bars
“Batory Foods takes pride in providing a range of high-quality ingredient solutions for our customers, and sugar reduction has been a key area of focus since our company was founded,” said Vince Pinneri, President of Batory Foods, in a press release. “Adding an innovative solution like Incredo Sugar to our portfolio of ingredients provides an excellent opportunity for us to keep up with growing demands of both consumers and food brands looking for products that are both indulgent and deliver on nutrition. Another major advantage that we see in Incredo Sugar is that supply is not limited.”
