News
Food and beverage industry news.
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.
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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.
think! Introduces Two New Decadent Flavors to Its Lineup of High Protein Bars: Boston Crème Pie and Chocolate Mint
think!, a high-protein snack brand and part of Glanbia Performance Nutrition, announced the launch of two new dessert-inspired flavors to their best-selling line of High Protein Bars – Boston Crème Pie and Chocolate Mint.
The NOSH Podcast: Rinse and Reflect? Two Serial Entrepreneurs And The Lessons They’ve Learned
This week the NOSH team revisits some important lessons and stories shared during NOSH Live Winter 2022 with Suzie York, founder and CEO of The Better Chocolate and Matt Clifford, CEO of CanDo. Both have moved onto their second endeavors in the world of CPG and share how they applied certain learnings from their first businesses, the second time around.
Selva Ventures Looks to Double BFY CPG Portfolio with $34M Fund II
Health and wellness-focused CPG investment firm Selva Ventures announced this week it has closed a $34 million raise for its second fund, which included backing from Unilever Ventures, PagsGroup and Obelysk as well as existing investors.
CircleUp Sells, VC Fund’s Final Home Still Unknown
After announcing a serving agreement for its credit offerings in March, fintech platform Brightflow has acquired the remainder of lender, investor and software platform CircleUp with an eye on further monetizing AI-driven data and insights platform Helio.
Tony’s Chocolonely Puts ‘Lock’ On Co. Mission, Gives Key To Seth Goldman
Tony’s Chocolonely is looking to set a new corporate standard that legally protects the values of mission-driven businesses.