News

Private label products are “nipping at the heels” of name brands according to a new report from consumer market research firm the Hartman Group examining the key drivers behind consumers’ purchasing decisions. The report notes that although demand for private label brands typically increases during periods of economic downturn, current growth is also being driven by generational differences in why consumers make a purchase and how they interpret the meaning of a brand.

In this week’s Checkout: 4×4 Capital acquires The Bountiful Company’s former sports and active nutrition unit; Ashton Kutcher’s Sound Ventures partners with MeaTech; Nestlé tests “Vrimp” in Europe; and SnackMagic launches “Cardboard Vending Machines.”

Savencia Fromage & Dairy’s U.S. expansion plans have begun to take shape with yesterday’s announcement that the French dairy provider has acquired dip producer Hope Foods.

Online grocery platform Instacart announced yesterday it has acquired software company Foodstorm, which powers a catering order management system for grocery retailers. The move expands Instacart’s enterprise technology services while allowing its retail partners to grow ecommerce sales of their prepared food offerings.

After years of effort by activists including multiple legislative attempts, California Governor Gavin Newsom signed Assembly Bill 45 into law yesterday, creating a regulatory framework to immediately allow for the legal sale of CBD-infused products.

In this People Moves: Bob’s Red Mill moves Trey Winthrop into the role of CEO, Mindy Grossman steps down from WW International, Kodiak adds new CMO position for Cory Bayers, Maxine’s Heavenly expands team with two new hires and more.

Mediterranean food company Afia this week announced its expansion into Sprouts Farmers Market nationwide and Publix in the Southeast. The launch brings the brand’s footprint to 1,775 stores nationwide, doubling its store count at the start of this year.

Animal-free protein maker Clara Foods announced yesterday it has rebranded, changing its name to The EVERY Company. The new brand identity, CEO and founder Arturo Elizondo said, will better convey the food tech company’s mission of providing sustainable animal-free proteins to “every human, everywhere.”

From chickpea snacks to Japanese barbecue sauce, innovative products from emerging brands are attracting investor interest as brands look to enter their next growth phases by increasing production, growing their retail footprints and expanding their teams.

Hormel Foods announced today that its venture arm, 199 Ventures, has entered into an exclusive partnership with alternative protein producer The Better Meat Co. In a release, the two companies stated they plan to bring new mycoprotein offerings to market, working to commercialize alternative protein products made from The Better Meat Co’s Rhiza mycoprotein ingredient.