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Food and beverage industry news.
Blue Apron Q3: Meal Kit Maker to Increase Marketing Spend After Capital Raise
On Blue Apron’s third quarter earnings call today, CEO Linda Findley said the meal kit maker experienced a return to more “normal” pre-pandemic conditions during the third quarter and is now aiming to up its marketing spend to attract more customers following a capital raise closed last week.
Taste Radio: Nowhere Is There A Place Like Erewhon… An Insider Explains Why.
Erewhon Chief Growth Officer Kabir Jain discussed the upscale grocer’s emphasis on being first when it comes to carrying new and unique concepts, how it defines innovation and why he describes brand selection as both “an art and science.” He also discussed the throughline for fast-growing food and beverage categories, and how the chain is supporting brands with highly actionable sales data.
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Post-Drizly Spinoff, Lantern Elevates Prez Mahoney to CEO
After finding its own path, Lantern now has its new guide. Last week, the Boston-based cannabis delivery platform announced the promotion of its president, Meredith Mahoney, to co-founder and CEO.
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.
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.