Headlines

Mondelēz reported strong top line growth on its Q1 earnings call yesterday. In the first quarter, executives noted, 2022 acquisition Clif Bar showed double-digit revenue growth.

The Kellogg Company reiterated preliminary details about the company’s future structure during its annual shareowner meeting today, held nearly a year after it first announced plans to divide up the business.

In this week’s notable new products roundup, Brightland announces the launch of its Pizza Oil, ONE Bar pays homage to a lunchbox favorite with its newest flavor and The Republic of Tea commemorates the premiere of Queen Charlotte: A Bridgerton Story.

In this week’s roundup: Hershey invests in social, environmental supply chain programs in the Ivory Coast; Burcon makes a bid for Merit Functional Foods; Citibank issues new ESG warnings for beef, soy producers; and layoffs reach Tyson and Utz.

The Hershey Company set a positive tone for 2023, raising its full year financial outlook after outperforming expectations in its Q1 earnings report today. According to the company, consolidated net sales were up just over 12% in Q1 to $2.9 billion (organic net sales grew 12.2%) while reported net income increased 10.9% to $587.2 million.

The NOSH team talk about Oatly’s new online marketing campaign, sesame seeds’ new classification as a “Big 9” allergen, Hershey’s acquisition of two Skinny Pop co-packing facilities and an interview with The Coconut Cult’s Ari Raz about manufacturing decisions.

Seeking to add $2 billion in incremental sales from North American innovation efforts, Kraft Heinz Company announced plans to enter a new category in the U.S with the stateside launch of Just Spices.

The Good Food Institute’s yearly report on the fermentation-based food industry showed a growing market share in new protein alternatives but a lack of funding and production capacity hampers widespread adoption.

In the latest episode of Elevator Talk, we feature leaders from Social Brew, Hotpot Queen, Chi Foods and Chakalaka. Watch founders and CEOs introduce their brands and provide a recap of recent news and updates. This week’s special co-host is Carole Sioufi, the chief operating officer of innovation launchpad Branchfood, who shared her thoughts, questions and feedback with the participants.

Mighty Yum is attempting to disrupt the kids’ lunch kit category with a plant-based alternative to Lunchables that is healthier and appeals to picky eaters.