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Food and beverage industry news.
Guest Column: Your Baby’s Not Ugly, It Just Has the Wrong Name
Whether you’ve raised millions of dollars, been in the market for over a decade, have a cult following or just recently launched, renaming can be an amplifier to success, not a deterrent. Reframing a name and brand change is an opportunity for greatness rather than an admission of failure.
Breakfast for All, Over Easy Closes Seed Round To Expand Beyond Bars
After two years on the market, breakfast bar maker Over Easy is looking beyond its core category with the goal of becoming a convenience-oriented brand “for the masses,” according to Kyle Maggard, founder and CEO.
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IRI 2021 Pacesetters: Consumers Crave Innovative Convenience and Unique Flavor Combinations
Consumers are searching for new forms of convenience, whether as clever packaging or new products, and prioritizing exciting and unfamiliar flavors at mealtime, according to market research firm IRI’s annual New Product Pacesetters report, released yesterday.
Specialty Food Demand Changes As The Pandemic Evolves
A new report by the Specialty Food Association shows that growth in the specialty food market has changed as the pandemic’s evolution over the last two years has brought dramatic price increases and a shift in consumer shopping and eating priorities. The category grew by 7.4% in 2021 as compared to 5.8% in 2020, reaching $175 billion in sales.
Cleveland Kitchen Details $19M Investment, Acquisition & New Product Launches
Fermented foods company Cleveland Kitchen announced today it has raised an additional $19 million, as well as completed the acquisition of Sonoma Brinery. The deals will allow the company to more aggressively pursue expansion into new products and manufacturing capabilities.
Breaking Down Beyond Meat: Don Lee Allegation Echoed By Class Action Suit
Beyond Meat, which has been in a legal dispute with former manufacturing partner Don Lee Farms for almost five years, has now been hit with a case by consumers claiming they’ve been misled and lied to about the comparability of Beyond’s protein to animal products.
PowerPlant Partners and SYSTM Brands Team Up to Expand and Scale Food and Beverage Brands
Venture capital firm PowerPlant Partners today announced an investment in and partnership with holding company SYSTM Brands to launch SYSTM Foods, a new platform focused on acquiring sustainable and socially conscious food and beverage brands. Terms of the deal were not disclosed.
Frozen Food Maker Rösti Rebrands as Crispy Filled, Announces Funding
Portland, Oregon-based frozen food brand Rösti will reorganize under the name Crispy Filled Inc. after buying out business partner L2M Brands for an undisclosed sum, the company announced this week. The company partnered with L2M Brands, the venture arm of ingredient supplier Bridgewell Agribusiness, shortly after its 2019 launch and received a capital investment from… Read more »
Smucker’s: Despite Widespread Jif Peanut Butter Recall, Net Sales Rise +6%
While a sweeping, nationwide recall of one of Smucker’s flagship product lines, Jif, may have stunted gross profits this quarter, the CPG giant reported today that net sales increased 6% to $113.6 million during Q4 FY2022.
Honest Founder Seth Goldman Seeks Organic Tea Revival Under Eat the Change
When The Coca-Cola Company announced last month its decision to discontinue Honest Tea by the end of the year, the brand’s founders were dismayed by what they believed was a shortsighted decision. Two weeks later, they’re brewing up a new line of better-for-you teas to take the mantle. Honest Tea co-founder Seth Goldman announced yesterday… Read more »