News
Food and beverage industry news.
Bel Group and Standing Ovation Form Strategic Partnership
Bel Group, a major player in healthy snacking with cheese brands such as Babybel, The Laughing Cow and Boursin, and the start-up Standing Ovation announce an exclusive partnership to incorporate casein milk protein, the main milk proteins, produced thanks to Standing Ovation’s technology, in Bel’s alternative cheese offerings. In September, Bel acquired an equity stake in Standing Ovation.
GoodSAM Foods Announces Nationwide Rollout of Products at Sprouts Farmers Market
GoodSAM Foods, a healthy snack food brand with a commitment to sustainability and regenerative agriculture, announced their upcoming launch inSprouts stores nationwide.
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Pow’s Adaptogenic Wonder Matcha Launches on Amazon
Pow Adaptogens has officially launched its flagship, best-selling product “Wonder Matcha” on Amazon and is available for fast and free shipping with Amazon Prime.
COP27: Leaders Look To Food, But Remain Skeptical Initiatives Will See Action
The conference turned its attention to agriculture over the weekend while climate protests ranged outside the doors. The primary grievance connecting both protesters and attendees: proposed climate action has not been not enough.
NOSH Announces Nominees for ‘Best of 2022’ Awards
The nominees for NOSH’s “Best Of 2022” Awards reflect the variety and strength within the industry both in front of and behind the scenes.
Oatly to Cut Jobs, Switch to Hybrid Production Model After Q3 Report
Oatly announced it will lay off staff and transition the business to an “asset-light” hybrid production model after reporting a net loss of $107.9 million, with revenue growth falling short of analysts’ expectations, in its Q3 earnings report today.
Distribution: Nut-free Spreads, Vegan Chicken Expand Retail Footprint
Voyage Food moves into brick and mortar, Caulipower launches frozen meals in retail and plant-based chicken companies Daring Foods and Alpha Foods expand footprint with new distribution deals.
Tyson: CFO Apologizes For Arrest, Profits Miss
Tyson Foods CFO John R. Tyson apologized for his arrest on November 6 during the company’s Q4 FY2022 earnings call Monday. The company reported record sales for 2022 but fell short of FY revenue expectations on the back of high beef prices and headwinds to pork sales.
Kroger-Albertsons: Judge Extends Temporary Block on $4 Billion Special Dividend
A judge from Washington State has extended the temporary block on a $4 billion payout to Albertsons’ shareholders in an effort to halt the cash dividend until the grocery giant’s proposed merger with Kroger can be fully reviewed by federal regulators. Judge Ken Schubert of King County Superior Court last week extended the temporary restraining order (TRO), now effective until Nov. 17.
B&G Foods “Actively Seeking” Back to Nature Buyer
B&G Foods is “actively seeking” a buyer for snack brand Back to Nature, stating on this week’s third quarter earnings report that while the brand was performing well enough, the divestment is part of a larger initiative to refocus B&G’s core portfolio and reduce debt.