News
Food and beverage industry news.
Naked Market Raises $27.5M, Will Launch New Confection Brand
Platform CPG company Naked Market announced last week it had raised an additional $27.5 million in capital to fund the growth of its slate of food and beverage brands. The company plans to launch a new confection brand in 2022.
Taste Radio: They Uncovered A Massive Opportunity. Addressing It Was Both Simple And Complex.
Beckon co-founders Gwen Burlingame and Katy Flannery explained how they aligned patented innovation with addressable opportunity to launch their fast-growing brand of lactose-free ice cream, why respect and humility were keys to a successful brand revamp and why the entrepreneurs are encouraging industry professionals to get mad when presented with a shocking statistic.
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PlantPlus Foods to Acquire Sol Cuisine and Hilary’s
PlantPlus Foods, a joint venture launched by Archer Daniels Midland (ADM) and Brazilian beef processor Marfrig last year, announced last week it has entered into agreements to acquire two plant-based protein companies: Sol Cuisine and DEW Drink Eat Well, owner of Hilary’s.
Oatly: Production Challenges Hit Revenue Targets in Q3
Shares of Oatly fell by over 20% earlier today after the Swedish oat milk maker downgraded its revenue growth targets for the rest of this year.
The Checkout: Misfits Market Launches in California, Adds Dairy; Nature’s Path Acquires Anita’s Organic Mill
In this week’s Checkout, Misfits Market expands to California and adds dairy offerings; Nature’s Path acquires a majority stake in Anita’s Organic Mill; and FreshRealm launches its first branded meal line.
Dave’s Gourmet Sells Majority Stake to Gourmerica, Names New President
Condiment brand Dave’s Gourmet announced new leadership and ownership changes this week, selling a majority stake in the company to food platform Gourmerica and bringing on natural food industry veteran David Neuman as its new president.
As Winter Approaches, Brands Launch New Coffee And Tea Offerings
Coffee and tea makers are gearing up for the winter season with the launch of new functional products featuring mood-boosting and immune-support benefits, as well as a range of limited edition holiday-themed blends.
Beyond Meat Reports U.S. Retail and Foodservice Declines in Q3
After reaching record net revenues in the second quarter, plant-based meat maker Beyond Meat faced a more challenging Q3, reporting yesterday that it saw declines across its U.S. retail and foodservice businesses driven by labor shortages, shipping delays and slowing demand.
Hershey’s to Buy Fast Growing Pretzel Brand Dot’s
Hershey’s announced today that it had entered into an agreement to buy pretzel brands Dot’s Homestyle Pretzels (which includes the company’s four pretzel seasoning facilities) as well as its copacker, Pretzels Inc. The total purchase price for both companies is $1.2 billion. Combined, the two businesses had an estimated aggregate net sales of roughly $275 million for the 12 months ending September 2021.
Alt-Protein Companies Secure New Funding
In this funding roundup, Future Farm raises $58 million ahead of its U.S. retail debut next year; AKUA closes a $3.2 million round to launch its Kelp Burger in retail; Shiru secures $17 million with plans to double its workforce and move into a new headquarters; and Aqua Cultured nets $2.1 million to support research and development.