Headlines
Deal Roundup: Plant-Based Brands Hungry Planet, Atlast and More Secure Investment
In this deal roundup, Hungry Planet closes a $25M funding round; mycelium-based meat alternative maker Atlast raises $40M; Meati secures $18M in debt financing for new production facility; and animal-free shellfish maker Cultured Decadence secures $1.6M.
Life Cuisine Partners Expands Portfolio, Partners with Banza
As part of its strategy to reframe its frozen meal business to appeal to a wider array of shoppers as well as younger consumers, Nestle this week announced two new offerings in its Life Cuisine line featuring Banza chickpea pasta, part of an 11 SKU launch.
With Fresh Funding, Snack Box Platform SnackMagic Bets on Personalization
When the COVID-19 pandemic hit in March 2020, New York City-based office lunch delivery platform Stadium, like many in the food service industry, was forced to abandon its business model practically overnight amid nationwide shutdowns. Faced with a steep revenue drop, co-founder and CEO Shaunak Amin found a silver lining, adapting Stadium’s backend system to launch build-your-own snack box platform SnackMagic, which hit profitability in December and now ships 50,000 boxes monthly.
PepsiCo: Frito Lay, Beverages Fuel Q1 Revenue Gains
PepsiCo reported net revenue growth of 6.8% in Q1 of this year, a figure that “reflects the benefits of (its) highly strategic acquisition activity” and “continued investment in our brands, manufacturing capacity, supply chain and go-to-market systems,” the company reported this morning.
Baltimore Judge Allows Tessemae’s Racketeering and Fraud Claims to Proceed in Lawsuit
A federal judge in Baltimore has denied a motion to dismiss fraud and racketeering counts in a lawsuit filed by dressing and condiment maker Tessemae’s against a group of former advisors and board members. The lawsuit, filed last June, alleges the defendants had attempted to steal the Tessamae’s business.
NOSH Presents: Embracing Innovation & Design with Scott Friedmann of Acid League
In this episode of Market Share, host Carol Ortenberg, the editor of NOSH, speaks with Scott Freidmann, CEO and co-founder of beverage and condiment brand Acid League. Having recently closed a multi-million dollar round of capital for the brand, in this discussion Friedmann shares how the company’s emphasis on innovation and design has played a role in its success.
Amazon Launches Aplenty Brand to Appeal to BFY Consumers
This week online retailer Amazon announced the launch of its newest private label brand, Aplenty, which will focus on offering consumers better-for-you takes on center store categories.
Retailer Roundup: Bubble Preps New Platform Launch; Court Orders Walmart to Pay $115M
Health food ecommerce retailer BUBBLE Goods announced this week that it has named Savraj Singh, former CTO of Daily Harvest, as chief technology officer, responsible for leading the company’s engineering team and digital platforms; Walmart was ordered to pay $115 million to Texas-based food tech startup Zest Labs after a jury in Arkansas ruled that the retailer was guilty of stealing its shelf-freshness technology.
Taste Radio: There Are Millions To Be Made In Niche. Oded Brenner Explains How.
Today’s episode features an interview with Oded Brenner, the founder of both Max Brenner, an international chain of upscale chocolate-centric cafes, and Blue Stripes, a unique brand of food and beverages made from upcycled cacao fruit. Brenner spoke about his unconventional approach to entrepreneurship and why he believes that “there will always be a place for the niche.”
Plant-Based Food Market Valued at $7 Billion After “Breakout Year”
Plant-based foods are continuing to take a bite out of the U.S. retail food market, with sales up 27% to $7 billion in 2020, nearly double the growth of the total U.S. retail food market, according to a new report from the Plant Based Food Association and the Good Food Institute.