News

In its Q3 earnings presentation yesterday, the Campbell’s Soup Company reported that organic net sales increased 17% year-over-year to $2.2 billion over the quarter. Looking ahead, CEO Mark Clouse outlined four trends expected to stick: “quick scratch cooking,” accelerated use of click-and-collect and home delivery, center store’s increased relevance and value.

Though the current market has been thoroughly disrupted by the COVID-19 pandemic, leaving uncertainty about how consumer behavior will shift long term, a new report by market research firm IRI showed that last year was marked by numerous “blockbuster” food and beverage launches as both conglomerates and smaller companies introduced new products that quickly surpassed $100 million in sales.

In light of recent supply chain issues during the COVID-19 pandemic, the FDA has adjusted its New Era of Smarter Food Safety initiative, including added priorities for worker safety and predicting potential food system disruptions, and a greater emphasis on safe food delivery to consumers.

The fourteenth round of Elevator Talk Livestream features leaders from The GFB, Super Belly Ferments, Just Date, JADA Spices, Munchy Crunchy Protein, Good Food for Good and more. This week’s special co-host is Larry Kahn of Beechwood Capital.

This week’s Office Hours brings veteran investment bankers Jay Novak and Brandon Ng from Houlihan Lokey on the livestream to discuss the current fundraising and M&A market and take questions from viewers.

In response to the death of George Floyd, some of the country’s largest food and beverage companies, as well as a large group of entrepreneurs and emerging brands, have offered statements of support, financial donations to advocacy groups and commitments to open a dialogue about racial justice in America.

With summer on the horizon, brands like Coolhaus, Enlightened and Beckon are rolling out new frozen treats, while Safe + Fair and LesserEvil are offering fruit-flavored takes on classic salty snacks. View the gallery for May’s notable launches, including new dressings from 88 Acres and offerings from This Saves Lives.

Shaka Tea, a Hawaii-based maker of ready-to-drink and bagged tea products, has raised $2.3 million in a funding round led by farming company Mahi Pono, bringing the brand’s total financing to $4.1 million.

We’re embarking on a journey to give food and beverage company founders a look behind the branding curtain and share insights from a real-time case study…and we need one of you to join us.

In this week’s COVID-19 news, Costco told analysts it will bring back in-store sampling, Senate Democrats proposed a $7.5 billion bill to support the food supply chain and more.