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Food and beverage industry news.
The Checkout: SnackMagic Launches CPGpulse; General Mills Invests In Women And Minority Entrepreneurs
In this week’s Checkout: SnackMagic launches data platform CPGpulse, General Mills invests $15 million for minority and female entrepreneurs, Misfits Market launches private label line and Evol introduces carbon neutral frozen meal line.
Judge Rejects Whole Foods’ Claim That $15 Million Breach of Contract Suit Is Invalid
AtlantaFresh Artisan Creamery’s case against Whole Foods Market is moving forward after U.S. District Judge Thomas W. Thrash denied Whole Foods’ motion to throw out a $15 million breach of contract lawsuit. The case alleges the natural grocery chain prematurely and ‘abruptly’ broke a seven-year distribution contract with grass-fed dairy producer AtlantaFresh Artisan Creamery and caused the business to go under.
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NAD Finds Clif Bar Slogan “Unsubstantiated” in Advertising Challenge
Clif Bar & Company will cease using the slogan “The Ultimate Energy Bar” in conjunction with “an optimal blend of protein, fat and carbs” in its marketing campaigns after the National Advertising Division (NAD) of BBB National Programs found the slogan constitutes an unsubstantiated claim about the superiority of Clif’s snack bars. In its final… Read more »
Beyond Meat Settles With Investors On Derivative Suit Amid Ongoing Don Lee Litigation
Beyond Meat has settled a lawsuit, filed by a group of its stockholders in March 2020 alleging the company’s senior management team, including co-founder and CEO Ethan Brown, former executive chairman Seth Goldman and former CFO Mark Nelson, “breached their fiduciary duties.” The litigation was a derivative action related to an ongoing legal dispute brought against the company by its former co-packer, Don Lee Farms.
Mikuna Foods Raises Funds With “Mission-Aligned” Investors To Boost Chocho Awareness in U.S.
Mikuna Foods is looking to introduce Americans to Ecuadorian plant-protein ingredient chocho, announcing today the closing of a $5.6 million seed funding round backed by a “mission-aligned collective of private individuals.” The California-based company plans to use the capital to scale operations, expand its supply network and drive brand awareness.
People Moves: Laird Names New COO and SVP of Sales; Coconut Secret Appoints New CEO
In this People Moves: Laird Superfood names new COO and SVP of Sales; Nutiva and Coconut Secret Brings on New CEO; Petit Pot Promotes Eric Lallart to CEO and Lonna Borden joins Monogram Capital Partners.
Yasso Expands Incubator Model with Mochi Launch
Frozen sweets brand Yasso is going deeper in the novelty set with the launch of new Greek yogurt filled mochi, the second product to be released under the company’s new “incubator” model introduced last year.
NuAMP Crowdfunding Platform Launches, Designed For PoC Founders
Female PoC-owned sparkling water brand Droplet activated a crowdfunding campaign this month on NuAMP, a new platform dedicated to connecting PoC founders with various forms of capital. Created in collaboration with community fundraising platform NuMarket and AMP, a tech company connecting PoC founders with funding resources, the NuAMP program debuted with seven active crowdfunding campaigns to support diverse founders across the country
Taste Radio: TCHO Doesn’t Need To Be A Big Brand. But It Has To Be An Excellent One.
Brad Kintzer, Chief Chocolate Maker at TCHO, discussed the company’s emphasis on sustainable and ethical sourcing as a key metric of quality, how it defines “better” when evaluating progress, how he’s been inspired by winemaking and why, despite TCHO’s cachet, the brand recently introduced massive changes in its formulation and branding.
Very Good Food Company Ousts Founders, Ex-CEO Says Share Price was ‘Unsustainable’
The co-founders of plant-based food brand The Very Good Food Company were dismissed from the company last week as its board of directors seeks to reverse stock price declines.