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Food and beverage industry news.
Kodiak Cakes Sells to L Catterton, Will Look to Go ‘Where White Flour Dominates’
Protein remains a major force of attraction for consumers, as is evidenced today by the sale of protein enhanced baking mix and snack brand Kodiak Cakes to private equity firm L Catterton.
Drake-ing It In: Musician Joins $40M Raise for Plant-Based Daring Foods
Just nine months after raising $8 million in funding, plant-based meat brand Daring Foods announced last week that it had closed a subsequent $40 million in funding. The round was led by D1 Capital Partners with existing investors Maveron and Palm Tree Crew, along with musician Drake, also taking part.
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People Moves: Vermont Smoke & Cure CEO to Lead Bee’s Wraps; Clif Adds New Execs
Vermont Smoke & Cure CEO Tara Murphy has announced she will depart the meat snack maker to lead Vermont-based sustainable food storage brand Bee’s Wraps, effective June 1. Murphy’s successor has yet to be named.
The Checkout: Terviva Raises $54M, Announces Danone Partnership; NGA Rebrands
In this week’s Checkout, Terviva raises $54 million and announces a partnership with Danone; Bodega Latina acquires Smart & Final; and the National Grocers Association rebrands.
Market Share: Why D2C Daily Harvest Sees the Power of in Person
In this episode of Market Share, host Carol Ortenberg, the editor of NOSH, speaks with Rachel Drori, founder and CEO of frozen meal provider Daily Harvest on taking direct-to-consumer brands out to the public.
Texas Bill Aims to Block Plant-Based Brands’ Use of Meat Terms
The push to regulate plant-based food and beverage brands’ use of terms associated with animal-based products is continuing this month with a new bill in Texas. The Texas House of Representatives last week passed a bill that would ban the use of meat terms such as “beef,” “chicken,” and “pork” by plant-based meat companies on their food labels and advertisements in the state.
Oatly CEO: Going Public “Was the Right Thing to Do”
Ringing in the company’s first day trading on the Nasdaq Stock Market, Oatly CEO Toni Petersson said the decision to go public was “the right thing to do.”
Brightfield Report Anticipates Strong Growth Across Consumable CBD Categories
As pandemic restrictions begin to lift and consumers slowly return to “new normal” habits, the U.S. CBD market is expected to see a strong recovery throughout 2021 while laying the groundwork for the market to return to its “explosive and volatile growth” by 2022, according to a recent report by Chicago-based intelligence firm Brightfield Group.
Sambazon Secures $45M Investment, Will Launch Sambazon Hospitality Group to Complement Retail Line
Acai food and beverage brand Sambazon announced yesterday it had secured a $45 million investment from NextWorld LLC through its growth equity fund NextWorld Evergreen LP. The company will use the new funding to grow its omnichannel presence, expanding across retail and ecommerce while also growing its cafe business.
New Legislation Seeks to Open CBD Food and Beverage Market
The journey towards federal regulation for the legal use of CBD in food and beverage products took another step forward today with the introduction of the Hemp Access and Consumer Safety Act in the U.S. Congress.