News Roundup: PepsiCo Brings Back Impacto Program; Sweets and Snacks Are “Accessible Luxuries”

PepsiCo Opens Applications For Third Annual Impacto Business Accelerator

The PepsiCo Foundation is looking to support 100 Hispanic-owned small food and beverage businesses by providing grants of $10,000 each, aimed at supporting “community staples” ranging from foodservice to CPG companies across the country through its Impacto Business Accelerator. Applications are open now through June 16.

“The contributions of Hispanic communities are an integral part of the fabric of American culture,” said C.D. Glin, president of the PepsiCo Foundation and global head of philanthropy, in a press release. “Unfortunately, the community has also long faced systemic barriers to success which are only amplified by current economic woes like inflation and worker shortages. Our goal is to help these businesses navigate the ever-changing economy, beat the odds small businesses face, and keep the doors open and the business thriving.”

According to a Stanford study, cited in the release, the revenue from Latino-owned businesses is three times greater than White-owned businesses. Still, in many cases when the Latino business’ and owner’s personal credit scores are similar to non-Latino-owned businesses, with lower outstanding debt, these business owners still have lower approval rates for loans above $50,000. Through Impacto, PepsiCo also gives grant awardees access to business training and coaching from global nonprofit, Accion Opportunity Fund, as well as via local programs.

“The PepsiCo Foundation Impacto grant helped us keep the doors open and keep our employees employed,” said Jesse Iniguez, owner of Back of the Yards Coffee and previous grant recipient, in a press release. “I am so thankful the Foundation is continuing this because today I am now expanding my business to two new locations. I think these types of grants are such a blessing and it came at a time when we most needed it. A small grant like this can go a long way to get us over the top.”

Since the program’s launch in 2021, Impacto has supported over 750 Hispanic-owned businesses. Earlier this year, the company also launched its Greenhouse Accelerator Program Juntos Crecemos edition, focused on supporting startup Hispanic-owned food and beverage businesses with a grant and mentorship program.

Acosta: Sweets and Snacks Rank Are “Accessible Luxuries” For Consumers

Sales and marketing agency Acosta released a new report this week stating that despite inflation and economic uncertainty, consumers continue to turn to the candy and chip aisles in search of “accessible luxuries.” The goal of the study, Kathy Risch, SVP consumer insights and trends at Acosta said, was to better understand both snack trends as well as purchase occasions.

Risch said the report reveals generational differences in consumer shopping and snacking preferences, such as 81% of the Gen Z who reported that they snack when stressed. According to the report, 68% of consumers view snacks as a comfort food, with Millennials leading snack purchases in frozen snacks and sides, granola and cereal bars, protein and nutrition bars as well as dried meat or jerky.

The report suggests CPG brands playing in these categories focus on highlighting broad health attributes, experiment with organic line extensions, use portable or resealable packaging and create an impulse-buy promotional pricing strategy to help consumer trial and purchase. C-stores remain the most common venue for snack shoppers (76%) while only 28% of shoppers said they purchase snacks online.

All Yall’s Food Brings On New Investor

Plant-based jerky and bacon bits brand All Yall’s Food announced its first investor this week, board-certified vascular surgeon Dr. Rizwan H Bukhari. The five-year old, previously bootstrapped company will also see Bukhari fill the role of Medical Advisor.

The Texas-based company’s signature line, It’s Jerky Y’all, is available in Prickly Pear Teriyaki, Prickly Pear Chipotle, and Black Pepper & Sea Salt; the brand also sells a plant-based Bacony Bits product. The soy-based products contain 17 grams of protein and 7 grams of sugar per serving.

“Replacing beef jerky is a big goal, but it’s working,” said founder and CEO Brett Christoffel, in a press release. “By focusing on smart growth and delivering enjoyable bold, uniquely flavored proteins that are better for people, animals, and our planet, we are tapping into what consumers want: a great taste that doesn’t harm personal or planetary health.”

Cristoffel said the company is also on track to reach profitability by the end of the year.

Food Safety Lawyer Launches Campaign To Take Salmonella Out Of Chicken

Bill Marler has been litigating within the food safety space since 1993 and now he is taking a broader stance on common complaints – petitioning the U.S. Department of Agriculture (USDA) to prohibit the presence of Salmonella in poultry. Marler sent t-shirts to the USDA’s Food Safety and Inspection Service as well as the National Chicken Council in hopes of spurring food policy to ban chicken producers from selling Salmonella-containing poultry. The USDA recently declared Salmonella an adulterant in breaded, stuffed raw chicken products.

Marler said chicken purchased in the U.S. has a high likelihood to be “teeming with Salmonella that the manufacturer – with the USDA stamp of approval – can knowingly sell… The USDA/FSIS have the authority to deem Salmonella and other pathogens adulterants – they just need to use it. Personally, I think that anything that can poison or kill a person should be an adulterant. Ignoring Salmonella in chicken makes no sense.”