News

Acai food and beverage brand Sambazon announced yesterday it had secured a $45 million investment from NextWorld LLC through its growth equity fund NextWorld Evergreen LP. The company will use the new funding to grow its omnichannel presence, expanding across retail and ecommerce while also growing its cafe business.

The journey towards federal regulation for the legal use of CBD in food and beverage products took another step forward today with the introduction of the Hemp Access and Consumer Safety Act in the U.S. Congress.

This summer’s Speed Dating events will be even more frequent, as well as more focused. Our upcoming events will be 60 minutes instead of two hours to free up calendars and allow participation in multiple events. Each event is also now focused on a particular fundraising stage and/or category of products to lead to more qualified conversations.

Low-sugar chocolate brand Lily’s is on track to join The Hershey Company. The candy and snack giant today announced its intention to close the deal for VMG-backed, Boulder-based Lily’s.

Nearly a year after being formally separated from Dean Foods, plant-based food and beverage company Good Karma is beginning a new chapter. The Colorado-based company announced today a brand refresh accompanied by the launch of a new line of refrigerated plant-based milks and a direct-to-consumer ecommerce platform.

Despite challenges presented by the COVID-19 pandemic, the plant-based food industry continued to gain momentum in 2020 with increased sales, a strong interest in investment and manufacturing advancements. The Good Food Institute’s (GFI) 2020 Plant-Based State of the Industry report highlighted some of these major achievements in the space last year, while also offering plant-based companies actionable insights for the future. Although the category is buzzy and crowded, there’s still opportunity for companies to innovate and bring new consumers into the category, according to GFI research analyst Kyle Gaan.

In this week’s Checkout, Memphis Meats rebrands to UPSIDE Foods with plans to launch chicken this year; B&G names its new CEO and reports a strong first quarter; Kroger announces a new Go Fresh & Local Supplier Accelerator Program; and Target launches a plant-based line from its Good & Gather brand.

After almost a year of discussions, planning, and strategizing, market research firm IRI has launched the Diversity Advantage Program (DAP), a pro-bono service aimed at supporting minority and women-owned CPG companies by offering access to their market research and analytics, consumer and category insights, as well as training and consulting services.

Massachusetts-based meat and vegetable burger blend maker Grateful Market has secured several retail placements in the Northeast, hitting the freezer section at Hannaford, Shaw’s and Whole Foods, following a channel strategy pivot as a result of the pandemic.

Episode 36 of Elevator Talk features leaders from Chia Smash, Honey Child, Artisan Pops, Zesty Kitchen, OMG…It’s Gluten Free! and Seagreen. Watch founders and CEOs introduce their brands and provide a recap of recent news and updates.