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Food and beverage industry news.
Sprouts: Q1 Growth Is ‘Direct Result’ of Consumer Engagement, Product Differentiation
On its earnings call this week, Sprouts Farmers Market credited its Q1 sales growth as a “direct result” of its customer engagement efforts, which have helped grow both basket size and as well as increase trip count among its loyal shoppers.
Blue Bottle, The Weeknd Spotlight Ethiopian Coffee Culture With New Collab
Nestle-owned Blue Bottle Coffee is partnering with multi-Grammy award winner The Weeknd (born Abel Tesfaye) and his record label, XO, to create a new line of premium Ethiopian coffees that honor the “Starboy” singer’s family roots.
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Full Harvest Reduces Food Waste Faster by Expanding Supply Chain Digitization to All Produce Grades
Full Harvest, a proven leader in the battle against food waste, announced its expansion beyond surplus to all USDA Grade 1 produce on its online marketplace for commercial buyers and sellers.
Target Takes Ten Brands for Accelerator Cohort
Target announced its Takeoff Food and Beverage Accelerator program class of 2023. The mentorship program will help 10 emerging food and beverage brands successfully improve branding and marketing strategies.
On the Rise: Hero Bread Closes $15M to Grow National Distribution
Bakery brand Hero Bread announced today it has closed $15 million in funding to help the brand meet consumer demand and fuel future product innovation. The capital raise comes as the San Francisco-based brand shifts its focus to physical retail.
Are SPACs Back? Above Foods To Go Public
Vertically-integrated ingredient supplier, agriculture company and CPG producer Above Foods will go public via a reverse merger with blank check company Bite Acquisition Corp. The deal values Above at roughly $319 million
Butter Buds Announces Michael Shrear As Regional Sales Manager
Butter Buds Inc., a global leader in dairy and non-dairy concentrates, recently named Michael Shrear as Regional Sales Manager. In his new role, Shrear will be responsible for overseeing and managing sales of Butter Buds products to customers across the East Coast.
Heirloom Coffee Roasters Launches 100% Paper Foodservice Packaging
Heirloom Coffee Roasters, a leading regenerative coffee roasting company, announces the launch of the first-ever 100% paper foodservice coffee packaging. This innovative packaging is ultra-durable and has no plastic or metal, eliminating waste from the supply chain.
Le Sauce & Co. Launches New Classic Demi-Glace Flavor
Le Sauce & Co., a women-owned family business, is launching a new delicious flavor that until now was only available at your local steakhouse. This Classic Demi-Glace flavor is a rich flavored steak sauce that can create a more simple kitchen for consumer’s so they don’t have to spend lots of time cooking.
GFI: Taste, Price Still Impeding Growth for Plant-Based Proteins
Despite significant gains in recent years, mass-market adoption of plant-based meat, seafood, eggs and dairy remains limited by taste and pricing-related challenges, according to the Good Food Institute’s (GFI) State of the Industry report.