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Food and beverage industry news.
Ithaca Hummus Announces Plan to Update Its Hummus and Salsa Packaging
Ithaca Hummus, the crave-worthy hummus brand known for its fresh ingredients and bold flavors, announced its plan to update its Hummus and Salsa packaging to better serve both consumers and retailers.
Powered by Mycelium: Ecovative Puts Additional $15M into MyForest Foods Subsidiary
MyForest Foods, maker of plant-based, mycelium-grown bacon alternative MyBacon, announced yesterday it has added an additional $15 million in capital to accelerate retail and foodservice distribution across the East Coast and appointed a new CEO.
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Campbell Soup Company: Snacks Lead Q3 Growth as Soup Remains Flat
The Campbell Soup Company reported Q3 FY2023 earnings in line with its expectations as net sales grew 5%, according to the company’s earnings report this morning. Reported earnings before interest and taxes (EBIT) fell by 14% to $254 million and adjusted EBIT was down 2% to $313 million.
Blue Diamond and Brightseed Partner To Discover The Spectrum Of Health-Benefiting Bioactive Compounds In California Almonds
Blue Diamond, the world’s leading almond marketer and processor, and Brightseed, the bioactives company and a World Economic Forum Global Innovator, announce their partnership to discover the untapped health potential of nonpareil California almonds.
SunOpta and Seven Sundays Launch Cereal with Upcycled Oat Protein
SunOpta, a U.S.-based, global pioneer fueling the future of sustainable plant-based and fruit-based food and beverages is proud to announce a first-of-its-kind partnership with Seven Sundays, a planet-forward breakfast company known for serving up better breakfast items made with only real ingredients.
J.M. Smucker: Coffee, Uncrustables Fuel 10% Q4 Earnings Growth
J.M. Smucker Co. reported a 10% net sales growth year-over-year on the back of its coffee and Uncrustables brands during its Q4 earnings call and is expecting about $8.5 billion in sales for FY2024 with gross margins hovering around 36.5% to 37%.
Seeking to Make Plant-Based Milk More Affordable, PlantBaby Launches Kiki Butter for Spreading and Blending
Kids nutrition company PlantBaby is making its first foray into food with the launch of Kiki Butter, a multi-use spreadable and blendable oat and seed butter.
Meati Gets Lean, Cuts 5% Of Workforce
Meati is cutting its workforce by about 5%, affecting about 17 employees of the 300-person company less than six months after the mycelium-based protein company opened a new 100,000 sq. ft. production facility.
Notable New Products: S’mores Protein Cereal & 1-Step Frappés
In this week’s notable new products roundup, Blender Bites launches its new 1-Step Frappé innovation, Rao’s announces a pop-up in Chicago showcasing five new SKUs and Three Wishes takes inspiration from a classic fireside treat to create its newest flavor.
News Roundup: Texas Sets Plant-based Label Standard; Albertsons Consolidates Private Label Line
In this roundup: Texas passes new bill on plant-based product labels; Albertsons consolidates its leading private label line; Kraft launches in the frozen aisle; and Oath Pizza CEO sued by investors.