News

After weeks of speculation, Utz Quality Foods LLC announced this morning a new partnership with Collier Creek Holdings to combine and go public as a snack food platform under the name Utz Brands. To achieve its goal of becoming the fastest growing pure-play branded snack platform of scale in the U.S,” Utz is planning a variety of operational, marketing and distribution upgrades.

The Sugar Association wants the FDA to issue stricter labeling guidance on alternative sweeteners in order “to stop misleading claims about added sugars content.” But industry stakeholders argue that product labels are transparent enough, and consumers aren’t confused or concerned.

Serial entrepreneur Ashley Rogers spoke how she has applied lessons from her first two businesses to the development of her current brand, Spudsy.

Next week NOSH’s Pitch Slam 8 will transform, evolving into two days of virtual business pitches from some of the country’s most promising natural food brands. The semifinalists have been chosen, as well as the expert judges who will be providing feedback and ultimately choosing the winner. Let’s meet the players.

Global chia producer Benexia believes there are many food and drink applications that it can fuel. The company is using its proprietary chia ingredients to expand its CPG brand, Seeds of Wellness, with the launch of chia pastas, plant-based milk, and a chia-derived oil.

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.