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Food and beverage industry news.
Eat Well Group Acquires Majority Stake in Baby Food Brand Amara
Canadian publicly traded investment company Eat Well Investment Group has secured a majority stake in PataFoods, maker of baby food brand Amara Organic Foods, as part of the brand’s $12 million Series A funding round.
Real Good Foods Goes Public, Sees Future in Entrees and Breakfast
On Friday frozen food brand The Real Good Food Company (TRGFC) began trading on the Nasdaq. The company’s plans for growth include increasing its distribution, continuing to cultivate a loyal fan base, and expanding its product portfolio.
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Innova Names ‘Sharing The Planet’ As Top Purchasing Driver for 2022
Sustainability is no longer “just a Wall Street issue,” according to Innova Market Insights’ recent Top Ten Trends for 2022 report.
The Checkout: UPSIDE Foods Opens New Facility; Utz Acquires RW Garcia
In this week’s Checkout, UPSIDE Foods opens a new 53,000 square foot facility in Emeryville, California; Utz acquires snack brand RW Garcia; Farmstead announces plans to offer grocers dark store and delivery solutions; and FMI looks at consumer attitudes toward holiday grocery shopping.
Genius Juice Acquires Bar Maker Bright Foods
Organic smoothie producer Genius Juice, in a partnership with BLD Capital, has acquired refrigerated bar maker Bright Foods, the company announced today. Terms of the deal were not disclosed.
Maple Leaf to Reassess Plant-Based Segment as Sales “Softened Beyond Expectations” in Q3
On its third quarter earnings call today, Michael McCain, CEO of Maple Leaf Foods — which largely sells animal-based proteins — said growth rates for its plant-based Lightlife and Field Roast brands have “evaporated,” with the category “unexpectedly” seeing deceleration over the past six months that has led Maple Leaf to reassess its plant-based protein business.
Kellogg’s Q3: North American Sales Flat Amid Labor Strike, Supply Chain Setbacks
The Kellogg Company today reported flat sales across North America during the third quarter as its snacks and frozen segments grew while cereal sales took a hit from ongoing labor strikes and supply chain disruptions.
Black Rifle Coffee Company to Go Public After SPAC Merger
Black Rifle Coffee Company is going public after it announced this week it will merge with a special purpose acquisition company (SPAC) in a deal that values the military-focused brand at $1.7 billion.
Dream Pops Raises $6M, Plans for Expansion Beyond Frozen
Frozen novelty brand Dream Pops has raised $6 million as it seeks to move beyond its current portfolio and expand into the confection aisle. Ultimately CEO David Greenfeld wants to reinvent many of America’s “cult classics” for a new generation.
Mondelēz Q3: Demand Strong Ahead of More Price Hikes Next Year
In response to seeing strong demand across its biscuit and chocolate segments and rebounding sales in gum and candy, despite price increases, Mondelēz raised its full year sales outlook ahead of additional price hikes set to take place in early 2022.