News
Food and beverage industry news.
Yumi Funding Caps Off Year of Growing Attention on Children’s Nutrition
Yesterday’s $67 million fundraise by baby brand Yumi caps off a year of acquisitions and investments in the category — attention that is reflective of both increased discussion of contaminants in baby food and growing interest in getting products to parents through newer distribution methods.
General Mills’ Q2 Earnings Targets Outpaced By Cost Inflation
General Mills’ net sales increased to $5 billion during the second fiscal quarter this year, but as with the supply chain snarls that are making things harder for smaller competitors, the cost of making products increased for the CPG giant as well.
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SFEP Acquires Majority of Rustic Bakery
Today San Francisco Equity Partners (SFEP) announced its acquisition of a majority stake in Rustic Bakery, the organic food producer and cafe owner behind the Rustic Bakery line of crisps and cookies.
Taste Radio: Authentic. Modern. Innovative. This Brand Is Doing It All.
Hector Saldivar, the founder and CEO of Tia Lupita, explained why the brand is focused on updating and innovating upon authentic Mexican food, how he’s educating consumers about esoteric ingredients, the retail strategy for three distinct product lines and what he’s learned as an immigrant entrepreneur.
Distribution Roundup: Yolélé Brings Flavors of Africa To Target; African Dream Foods Announces Zoo Partnerships
In this week’s distribution roundup: Yolélé launches its West African inspired products at Target, African Dream Foods partners with zoos across the country, Blue Apron innovates with Amazon Alexa, Bubbies introduces its mochi to Publix and more.
Walmart Sets Goal to Reach Zero Emissions, Encourages Suppliers to ‘Take Action’
Walmart broke down its approach to climate change initiatives during an ESG-focused discussion for investors earlier this month, committing to reducing its emissions company-wide to zero by 2040 and actively assisting its suppliers with climate-positive innovations.
Good Crisp Closes Funding To Push Into Conventional Retail
Salty snack brand The Good Crisp Company announced last week that it has closed what it described as its largest funding round to-date as it seeks to make the jump from natural retailers into conventional grocery.
Harmless Harvest Looks To New Day Parts with Dessert Launch
As part of its goal to utilize more of its star ingredient, coconut-based product brand Harmless Harvest has announced the launch of a line of coconut puddings.
Future Meat Closes $347 Million Funding Round
Isreali food tech company Future Meat announced today it has raised $347 million in Series B funding co-led by ADM Ventures, the investment arm of global food processing company Archer-Daniels-Midland, with participation from Menora Mivtachim, S2G Ventures, Tyson New Ventures, among others.
The Checkout: OmniFoods Partners With Nonprofits; Kraft Heinz Acquires Majority Stake of Just Spices
In this week’s Checkout: OmniFoods partners with nonprofits to support food insecure communities, Kraft Heinz acquires majority stake of Just Spices, Abbot’s Butcher receives the first Whole30 Approved Certification for plant-based meat and tech company Lumi acquired by Navar.