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Food and beverage industry news.
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).
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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.
Hain Celestial Buys Thinster and ParmCrisps Maker
Hain Celestial will acquire better-for-you food incubator That’s How We Roll, the owner of Proven Brands, Inc. and KTB Foods, Inc., from private equity firm Clearlake Capital Group in a $259 million deal, Clearlake announced today.
Coolhaus Sells to Perfect Day, Will Transition to Entirely Animal-Free Offerings
Alt-dairy ingredient provider Perfect Day has reached an agreement to acquire ice cream brand Coolhaus from investment group Sunrise Strategic Partners for an undisclosed fee, the company announced today.
The Checkout: Capital City Brings Mambo Sauce To KFC; U.S. Identity Preserved Certification Launches
In this week’s checkout: Capital City brings its Sweet Hot Mambo Sauce to KFC, The Specialty Soya and Grains Alliance launch U.S. Identity Preserved Certification, Kraft Heinz to combine U.S. and Canada Businesses and Forever Cheese brings on specialty food veteran Tyler Hawes.