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Food and beverage industry news.
Albertsons: Q2 Revenue Tops Estimates, But Competitive Headwinds Will Continue
Albertsons Companies surpassed analysts’ projections in reporting second-quarter net sales and other revenue of $18.6 billion today, up from $18.3 billion last year, propelled by an increase in digital sales and omnichannel shoppers.
Hershey-Backed Blue Stripes Raises $20 Million to Advance Its Technologies, Develop New Products
Blue Stripes, a purveyor of sustainable cacao fruit-based food and beverage products, announced today it has raised $20 million in a Series B funding round intended to help the brand advance its whole cacao process technologies, develop new products and expand distribution.
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Vendor Says BetterBrand Social Media Claims Are False
Cold Chain 3PL, an ecommerce cold goods fulfillment service, stated it is not working with BetterBrand, an assertion that runs counter to the low-carb bread company’s claims.
‘The Era of The Empanada’: Inside Maspanadas’ New Production Gains
While COVID-19 may have pushed some businesses to the point of no return, Latin Goodness Foods, its pandemic-era pivot deeper into CPG is beginning to pay off.
New Products: Chobani Packs More Protein, Scott & Jon’s Adds Fish Dishes
In this week’s new products roundup, Chobani packs more protein into its Greek yogurt cups, Chosen Foods gives its signature avocado oil a squeeze, and Pringles rejoins the dill pickle craze.
The Jackfruit Company Adds $5M Extension to Series B Round
The Jackfruit Company, which sells products under both that name and the Jack & Annie’s brand, has raised $5 million in a Series B extension, adding to the $23 million it previously raised in the funding round, co-founder and CEO Annie Ryu announced this week.
Capital City’s Mambo Sauce Secures New Cash
Mambo Sauce maker Capital City is celebrating its first round of investment this week after securing a First Lien Term Loan Facility from middle market investment firm Lafayette Square.
Bad Bread? BetterBrand Claims ‘No Truth’ To Shutdown Rumors
BetterBrand rode the rumor roller coaster this week, and it’s only Thursday. The company was said by some media outlets to be in the process of shutting down, but the story that has unraveled is even more complex.
CPG Week: Siete Acquisition, BetterBrand Rumors, and C-Suite Changes
On CPG Week, the podcast team talks about the PepsiCo acquisition of Siete Foods, uncertainty about the future of a low-carbohydrate baking company and some high-profile beverage industry leadership changes.
Keychain Unlocks New Opportunities With Hershey’s Investment
Manufacturing B2B platform Keychain recently added $2.5 million from The Hershey Company, bringing the technology company’s total investment to $20.5 million in under a year.