News

A film actor and active investor in several high-profile brands including Super Coffee, NUGGS and Blaze Pizza, Patrick Schwarzenegger recently added the title of entrepreneur to his resume as the co-founder and CEO of brain health brand MOSH. In our interview, Schwarzenegger spoke about why MOSH broke every traditional rule for developing and launching a CPG brand, his investment philosophy and the value of company management when making funding decisions.

Direct-to-consumer cereal brand Magic Spoon quietly launched a limited run of cereal bars last month, step one in seeing if it can flex beyond its flagship product. Available in 16-count packs for $39, the bars sold out within 48 hours of launching on Magic Spoon’s website.

With supply chain shortages and inflated prices, this year’s holiday grocery shopping season may be notably different from years prior, according to IRI. In recent reports, the market research firm has examined grocery demand, out-of-stock rates, holiday promotions and shopping trends ahead of Thanksgiving this year.

In this week’s Checkout, Grupo Bimbo acquires gourmet popcorn maker Popcornopolis; Nature’s Fynd unveils plans for a new Chicago facility; Home Chef surpasses $1 billion in annual sales; and Straus Family Creamery tests seaweed to cut its cow-related methane emissions.

Amid both soaring consumer demand and supply chain constraints, it’s an “exciting and challenging” time to be in the food manufacturing business, according to Brandon Viar, the new CEO at natural product manufacturer Fresca Foods. After over two decades in the industry, the Colorado-based company is refreshing its leadership and growing its category offerings in an effort to embrace a new “entrepreneurial mindset.”

Better-for-you snack and frozen brand Nick’s announced today that it had raised an additional $100 million to grow the company’s distribution and product assortment.

Encouraged by growing retail sales growing across its confection and snacking groups despite supply chain restraints, The Hershey Company increased its 2021 net sales and earnings guidance today, as the company works to optimize in-store placement to boost category sales.

Candy season is in full swing this year as Halloween-themed chocolate and candy sales surpass pre-pandemic levels and food brands launch a wide range of better-for-you Halloween-themed products, limited time packaging and resurrected multiple sweet and savory spooky SKUs from past years.

Citing recent supply chain challenges, Credit Suisse lowered expectations for the company’s sales performance ahead of the release of its Q3 2021 earnings report next month.

Plant-based meat brand Daring Foods announced the close of a $65 million Series C funding round today in tandem with its launch into 3,000 Walmart stores. The funding round, its third over the past year, was led by Founders Fund alongside existing investor D1 Capital Group. Tennis star Naomi Osaka, NFL quarterback Cameron Newton, DJ Steve Aoki and Tiger Global founder Chase Coleman also participated.