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Food and beverage industry news.
Campbell’s Said It Will Focus On The Familiar For Future Growth
The Campbell’s Soup Company is more focused and a “much stronger company” today than it was three years ago, said President and CEO Mark Clouse during the company’s Investor Day event Tuesday.
Oddlygood Raises $28M, Looks to Expand U.S. Presence
Alt-dairy producer Oddlygood wants to be the next alt-dairy dynamo, and now it’s got the cash to do so. The Finnish company announced today that it had raised $28 million from Mandatum Asset Management (MAM) with plans to invest it into a U.S. expansion.
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J.M. Smucker Co. Divests From Natural Beverages, Grains
The J.M. Smucker Company continued to cull its CPG brand portfolio today with the announcement of an agreement to sell its natural and organic beverage and grains business to venture group Nexus Capital Management in a cash deal valued at around $110 million.
Multicultural Consumers “More Willing” To Embrace Plant-Based Alternatives, Danone Study Finds
Plant-based diets are on the rise among multicultural consumers, according to a new study published last week by Danone North America. However, results suggest there is a gap in the market caused by a lack of culturally diverse plant-based food innovation, cultural stigmas and barriers to access including product affordability and education.
Four Sigmatic Shifts Focus From Function to Flavor With Creamers Launch
The company this week launched a line of coconut-based powder creamers available in three varieties: Think (Cacao Coconut with Lion’s Mane and MCT Oil), Gut Health (Vanilla Coconut with Probiotics and MCT Oil) and Balance (Original Coconut with Ashwagandha and MCT Oil).
Green Circle Capital Launches Hormel-Backed Foodtech Venture Fund
Green Circle Capital Partners announced yesterday it has raised $13 million for its first fund in a new venture capital division, Green Circle Foodtech Ventures (GCFV), with an anchor investment from Hormel Foods’ VC arm 199 Ventures.
Motif FoodWorks Receives GRAS Status For HEMAMI Protein
After receiving Generally Recognized as Safe (GRAS) status earlier this month, Massachusetts-based food technology company Motif FoodWorks announced last week that its patented heme protein HEMAMI has launched for large-scale commercial distribution.
Jack & Annie’s Producer Raises $23M Following New Brand Launch
Alt-meat producer Global Village Fruit, producer of the Jack & Annie’s brand, formally announced today a $23 million funding round that closed this summer.
Taste Radio: What This Early-Stage Investor In Sweetgreen Wants To Hear In Your Pitch
Maxine Kozler Koven, co-founder of LDR Ventures & Consulting, discussed the venture capital firm’s investment philosophy and portfolio, which includes stakes in Sweetgreen, Thrive Market and Shaka Tea, the importance of nurturing the development of early-stage founders, the relevance of innovation when evaluating new concepts and the historical lack of funding for female-led companies.
On the Clock: TikTok’s Potential As CPG’s Next Big E-Platform
Like the viral speed of the hashtag #TikTokMadeMeBuyIt, TikTok is becoming one of the fastest-growing social commerce channels worldwide and is helping brands reach hundreds, even thousands, of new consumers via videos of skin care or vegan ice cream – if they can market themselves right.