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Food and beverage industry news.
FaZe Clan Co-Owner’s 1UP Candy Dares Consumers with ‘Sour Gummy Challenge’
Launching online today, 1UP Candy is a startup co-founded by Awadis, co-owner of esports organization FaZe Clan and a YouTuber with over 23.2 million subscribers. The company, which intends to focus on non-chocolate candies, is debuting with a single product: the Sour Gummy Challenge.
Purely Elizabeth Goes Mad For Regen Ag, Launches Impact Program
Purely Elizabeth is ratcheting up its sustainability commitments with the launch of the first Regenerative Impact Program, created in partnership with farmer-focused nonprofit Mad Agriculture. The program was created via a three-year pilot partnership agreement between the two companies.
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Stryve Completes Portfolio Cuts, Shifts Focus to Distribution Growth
Stryve Foods announced a 37% drop in net sales year-over-year to $4.6 million during a Q1 earnings call yesterday, which executives at the air-dried meat snack maker attributed primarily to the company’s portfolio rationalization efforts.
IHOP, Kraft Heinz Team Up To Release Syrup-Flavored Coffee
If you’ve been craving the taste of buttery syrup in your morning coffee, wait no longer: IHOP continues to leverage its licensing arm, this time partnering with The Kraft Heinz Company to introduce a pancake-inspired line of packaged coffee hitting stores today.
Beyond Meat: Shareholder Lawsuit Alleges Leadership Overstated Success of QSR Partnerships
Beyond Meat was issued a class action lawsuit by institutional shareholders alleging that the plant-based meat company’s executives knowingly misled its investors about the strength of the company’s manufacturing and foodservice partnerships while, in the process, profiting on the inflated share price.
Prime Roots Raises $30M To Put Koji Meat In The Deli Case
Prime Roots is one step closer to bringing its sliced-to-order koji-based meats to deli cases and restaurants across the country with today’s announcement of a $30 million in new funding to scale the business for national distribution.
News Roundup: Congress Seeks To Increase Access to Frozen Produce, Motif FoodWorks Launching Foodservice Portfolio
A bipartisan bill in Congress will offer SNAP recipients access to frozen produce, Motif FoodWorks is launching a foodservice portfolio of its plant-based meat products and NFL quarterback Aaron Rodgers’ private equity firm RX3 Growth Partners announces a $150M fund II.
Notable New Products: Velveeta-infused White Chocolate Truffles & Moo Point Coffee
In this week’s notable new products roundup, Compartes teams up with Velveeta for a unique collaboration, Central Perk rolls out new FRIENDS-themed coffee blends and RXBAR grows its morning and mini offerings.
Le Sauce & Co. Launches and Expands to Target
Le Sauce & Co., a fast growing premium food brand with a line of gourmet finishing sauces is expanding this month. Le Sauce can now be found down the condiments aisle of Target. Making family dinner time delicious and an elevated meal experience is the mission of this women and family-owned brand.
Laird Reports Q1 Net Loss of $4.1M, Continues Turnaround Efforts
Laird Superfood announced a net loss of $4.1 million in Q1 2023 as the plant-based food company continues its turnaround efforts.