News
Food and beverage industry news.
Conagra Divests Van de Kamp’s, Mrs. Paul’s Seafood Brands
Conagra is selling off more brands, this time moving its Van de Kamp’s and Mrs. Paul’s frozen seafood brands to their co-manufacturer, High Liner Foods, in a $55 million cash deal. According to an announcement today, the deal only divests the intellectual property rights and inventory for the two brands, but does not include employees or manufacturing facilities.
Is Vegan Cheese In Crisis Or Just Finding Its Footing?
Are plant-based cheese alternatives having an existential crisis after one of the biggest cheesemakers refocused its approach to the category?
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Ryan Trahan-Backed Joyride Raises $30M to Shake Up Sour Candy Scene
Creator-backed candy company Joyride (formerly Project 7) has raised a $30 million round, per a Form D filed with the Securities and Exchange Commission (SEC) on Wednesday.
A Big Dill: Grillo’s Pickles To Build $54 Million Facility
Grillo’s Pickles announced plans to build a $54 million manufacturing plant in Bartholomew County, Ind. The 155,000 sq. ft. facility will employ up to 150 workers and is adjacent to a $175 million King’s Hawaiian bakery operation.
New Products: Purely Elizabeth Packs Protein, Alec’s Partners With Graza, Brass Roots Intros Seed Butter
In this week’s new products roundup, Purely Elizabeth jumps on the protein craze, Alec’s Ice Cream whips up a collaboration with Graza, and Brass Roots launches an allergen-free alternative to peanut butter.
Bel Group Plows Under Plant-Based Cheese Brand
French dairy conglomerate Bel Group has decided to shut down its plant-based cheese brand Nurishh after four years on the market. The business will close by the end of the year, with Bel citing challenges to make it a profitable and sustainable part of the portfolio.
CPG Week: A Spirits Distributor Exits California. Plus, AG1 Hits Costco
This week, the podcast team discusses the merger of two legacy cheesemakers and the exit of a major beverage alcohol distributor from a key spirits market. Next, the hosts dig into the debut of digitally-native supplement brand AG1 in physical retail and explore why the news of an energy drink startup’s new investor brings fresh opportunities for its growth goals.
Reddy Family Expands Manufacturing With Trillium Foods, Backed by Bain Capital
There’s a new-ish manufacturer in town. After Flavor Reddy Foods grew its food manufacturing footprint via M&A in the past two years, the company is bringing the combined businesses together under one new entity, Trillium Foods.
Dr. Bronner’s Exits Chocolate Business, Sets Up New Parent Co.
Dr. Bronner’s has transferred ownership of its 10-SKU chocolate bar line to Magic Chocolate Inc., a new entity formed by the brand’s long-term partners to help scale the line independent of Dr. Bronner’s business.
Dietitian-founded Remix Snacks Acquired by Co-Packer
Bean-based snack slinger Remix Snacks is entering a new chapter of growth, announcing yesterday its acquisition by AM Ingredients (2021), its co-packer of four years. Terms of the deal were not disclosed.