News

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.

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.

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.

As snack brands seek to grow their product offerings and reach new audiences, many are turning to bite-sized formats. Bite-sized and miniature products — from sweet treats to savory snacks — have been a core subcategory of the snack set, but the product type recently gained popularity as a form factor because of the “permissibility” surrounding a smaller portion size.

Sweets and snack makers took on the better-for-you space this month with a range of new bars, baking mixes and chocolates from brands including GoodSam and JOYÁ. Check out the gallery for the latest product debuts, limited edition releases and notable collaborations from companies such as Chobani, Acid League and Omsom.

A film actor and active investor in several high-profile brands including Super Coffee, NUGGS and Blaze Pizza, Patrick Schwarzenegger recently added the title of entrepreneur to his resume as the co-founder and CEO of brain health brand MOSH. In our interview, Schwarzenegger spoke about why MOSH broke every traditional rule for developing and launching a CPG brand, his investment philosophy and the value of company management when making funding decisions.

Direct-to-consumer cereal brand Magic Spoon quietly launched a limited run of cereal bars last month, step one in seeing if it can flex beyond its flagship product. Available in 16-count packs for $39, the bars sold out within 48 hours of launching on Magic Spoon’s website.

With supply chain shortages and inflated prices, this year’s holiday grocery shopping season may be notably different from years prior, according to IRI. In recent reports, the market research firm has examined grocery demand, out-of-stock rates, holiday promotions and shopping trends ahead of Thanksgiving this year.

In this week’s Checkout, Grupo Bimbo acquires gourmet popcorn maker Popcornopolis; Nature’s Fynd unveils plans for a new Chicago facility; Home Chef surpasses $1 billion in annual sales; and Straus Family Creamery tests seaweed to cut its cow-related methane emissions.

Amid both soaring consumer demand and supply chain constraints, it’s an “exciting and challenging” time to be in the food manufacturing business, according to Brandon Viar, the new CEO at natural product manufacturer Fresca Foods. After over two decades in the industry, the Colorado-based company is refreshing its leadership and growing its category offerings in an effort to embrace a new “entrepreneurial mindset.”