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Food and beverage industry news.
Meati Raises $50M “Economic Cushion” For Growth Trajectory
Mycelium-based food startup Meati is rumored to have raised a $50 million Series C extension round. Investors include Bond, Congruent Ventures and Revolution Growth, among others.
To Move Merger Forward, Kroger, Albertsons Unveil $1.9B Divestiture Plan
Kroger and Albertsons today announced they have entered into a $1.9 billion divestiture agreement with C&S Wholesale Grocers intended to appease antitrust regulators reviewing the companies’ proposed $24.6 million merger.
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Following Teen’s Death, Paqui Pulls “One Chip Challenge” From Shelves
Following the death of a Massachusetts teen who took the Paqui “One Chip Challenge,” Amplify Brands, a subsidiary of parent company Hershey’s, said it will pull the product from stores.
From Liquid Death to Sour Stamina: Science Inc. Launches Final Boss Sour
CPG investment and brand development firm Science Inc. – the initial investor behind runaway beverage hit Liquid Death – is asking consumers to pucker up for its latest in-house product: a new brand of gaming-themed snacks called Final Boss Sour.
Kroger, Albertsons Could Sell Over 400 Stores to C&S for $2 Billion: Report
Seeking to gain U.S. regulatory approval for their proposed $24.6 merger, grocery giants Kroger and Albertsons are in talks to offload 400 stores to C&S Wholesale Grocers for nearly $2 billion, as reported by Reuters.
CCD Innovation and JPG Resources Form Powerhouse Partnership
CCD Innovation (CCDI) of the San Francisco Bay Area announces its partnership with JPG Resources of Battle Creek, MI to expand their chef-inspired innovation, product development, and commercialization services.
Momofuku Goods Raises $11.5M in Second Round This Year
Asian-inspired pantry staples maker Momofuku Goods has raised $11.5 million in a funding round led by Alliance Consumer Growth to further its national expansion strategy. This is the “restaurant-grade” brand’s second, eight-figure raise this year.
TreeHouse Sells Snack Bar Business To Strengthen Balance Sheet
TreeHouse Foods announced today that it will sell its Lakeville, Minn. manufacturing facility and snack bars business to global nut distributor John B. Sanfilippo & Son, Inc. for approximately $63 million as it shifts focus to becoming a private label leader. The deal is expected to close in the next 30 days.
Seeking Category, Channel Expansion, SkinnyDipped Raises $12M for Growth
Confection and nut brand SkinnyDipped raised $12 million, according to an announcement today. The round saw participation from both notable individuals and venture entities associated with celebrities and entrepreneurs.
Ciranda Hires New Sales VP and Food Safety and Quality Assurance Manager
Ciranda is pleased to announce the addition of two new team members who will further strengthen Ciranda’s sales and FSQA teams: Carol Willenbring, Vice President of Sales, and Jessica Belz, Food Safety and Quality Assurance Manager.