News
Food and beverage industry news.
Out of Time, VMG Calls Off SPAC
Investment firm VMG is calling off its Special Purpose Acquisition Company (SPAC), VMG Consumer Acquisition Corp, citing market conditions. The announcement follows the liquidation of several other CPG-focused SPACs.
Hain: FY Outlook Falls After Q3 Sales Miss
Hain Celestial has downgraded its full-year 2023 guidance after posting a net sales of $455.2 million Tuesday morning, down about 9% from the same period last year.
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Hershey’s Eyes ‘New Snacking Occasions’ With Ocean Spray Product Partnership
Hershey’s expansion of its snacking business continues with today’s announcement of a new line of chocolate-dipped cranberry bites created in partnership with new Ocean Spray.
Back to the Future: Gainful Co-Founder Launches ‘Nostalgia’ Inspired Frozen Dumplings
Gainful co-founder Eric Ji Sun Wu and former Motif FoodWorks and Better Meat Company scientist Adam Yee have teamed up to launch a frozen dumpling company called Sobo Foods, which is available for hand delivery in the San Francisco Bay Area through next week.
Thrive Market Now Climate Neutral Certified
Thrive Market, the health-first membership for conscious living, is proud to announce it is officially Climate Neutral Certified. Thrive Market joins the growing movement of companies achieving the Climate Neutral Certified Standard by measuring its 2022 greenhouse gas emissions, taking action on reduction plans, and offsetting their brand footprint with eligible-verified credits.
TreeHouse: Price Increases, Recovery of Supply Chain Propel Q1 Sales Growth Past Analysts’ Expectations
Price increases and improvements in its supply chain helped TreeHouse Foods beat analysts’ expectations and drive net sales up 15.8% year-over-year in Q1 2023, the company announced in an earnings call this morning.
Sweegen’s Brazzein Sweetener Receives GRAS Status, Opens Lane For Product Innovation
Last week, ingredient company Sweegen received GRAS status for its new Ultratia line of brazzein sweeteners that claim to be 500 to 2000 times sweeter than regular sugar, marking another step forward in the race to create the next generation of better-for-you sugar alternatives.
SunOpta Releases 2022 Environmental, Social and Governance Report
SunOpta, a U.S.-based global pioneer fueling the future of sustainable, plant-based and fruit-based food and beverages, is proud to release its 2022 Environmental, Social and Governance (ESG) Report.
News Roundup: The EVERY Co. and Alpha Foods Team Up to Develop ‘Next-Gen’ Alt-Meat; Oatly Hits a Home Run with MiLB
In this week’s roundup: The EVERY Co. and Alpha Foods team up to develop “next-gen” alt-meat; Oatly hits a home run with MiLB; Tennessee announces new regulations for hemp-derived cannabinoids; and Mondelēz announces its 2023 CoLab class.
ForceBrands Seeks to Connect Celebs & CEOs With CreatorForce Division
CPG recruitment firm ForceBrands is aiming to accelerate growth for celebrity-backed brands with the launch of CreatorForce, a division designed to help place executives in these companies, match creators with existing brands and assist with capital raises.