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Food and beverage industry news.
Renewal Mill Expands in Retail While Growing Ingredient Partnerships
Upcycled ingredient supplier and food brand Renewal Mill has partnered with specialty kitchenware retailer Williams Sonoma to produce co-branded products under the retailer’s new Seed & Harvest brand. The partnership comes as the company has also gone nationwide with Whole Foods Market.
General Mills Projects Confidence With Strong Q4 Results
General Mills posted strong top line numbers in its latest quarterly earnings report, closing out a fiscal year that brought inflationary challenges and labor shortages as well as changes to the company’s category structure.
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Alt-Seafood Maker Current Foods Raises $18 Million
After debuting its flagship, sushi-grade plant-based tuna products earlier this year, alt-seafood maker Current Foods is set to accelerate distribution efforts and expand its product range after closing an $18 million seed funding round.
After Rapid Growth, Eclipse Raises $40M for Alt-Milk Platform
Plant-based dairy brand Eclipse Foods has raised $40 million, the company announced today, and has set its sights on expanding beyond the freezer case.
Bar Wars: Mondelēz, Kellogg’s Recent Moves Reveal A Battleground Category
Mondelēz International announced that it will buy The Clif Bar Company for at least $2.9 billion last week. While the move marks a significant step in the company’s plan to reshape its portfolio, it also aligns the strategic with one of the oldest and largest brands in the crowded bar space. Once it closes, the eight leading nutrition bars brands in the U.S. will be owned by large CPG conglomerates.
Taste Radio: Buyers Were Initially Skeptical About His Brand. Now, It’s An Anchor For A Fast-Growing Set.
Ibraheem Basir, the founder and CEO of A Dozen Cousins, a brand of ready-to-eat meals and sides inspired by traditional Black and Latino recipes, spoke about how the brand’s initial focus has evolved, why keeping “a foot in the familiar” is a key tenet of its innovation strategy, the reason the company isn’t vocal about funding and how opportunities have improved while challenges remain for BIPOC food entrepreneurs.
Mavericks Cookies Focuses On Branding to Land Target Store Partnership
After nearly two years in Whole Foods, better-for-you kids snacks brand Mavericks is hoping to re-introduce itself to consumers with a packaging refresh and the launch of one of its products in 1,250 Target stores.
Clif Reaches $10.5M Settlement On Healthy Label Claims
The Clif Bar Company announced Friday it has reached a $10.5 million settlement agreement in a class action case alleging the brand misleadingly labeled its Clif Kid ZBars and “Classic” Clif Bars to convey messages of health and wellness, even though 37% of the calories in the product come from added sugar.
The Checkout: Shopper Response To Price Increases Drive Private Label Loyalty, Says FMI; Gorton’s Fights Back On Sustainably-Sourced Definition
In this week’s Checkout: FMI finds loyalty for private label products is on the rise; Gorton’s fights back on definition for sustainably sourced fish; SFA Trendspotters report the top themes recognized at this year’s show and Moolec announces its roadmap to an IPO.
Notable New Products: Chickpea Tortilla Chips & Dill Pickle Flavored Popcorn
This week’s new products saw brands delving deeper into plant-based protein options, launching unique popcorn flavors and going bananas over the launch of Minions: The Rise of Gru with a new variety of mini muffins. Plus, GoodPop unveiled its newest organic popsicle variety just in time to help you beat the summer heat.