News

Texas-based Dean Foods, the largest milk processor in the U.S., has filed for Chapter 11 bankruptcy protection. The dairy producer announced yesterday it will use the process to “protect and support” ongoing business operations and address debt and pension obligations.

T.K. Pillan, the co-founder of vegan restaurant chain Veggie Grill, discussed his transition from tech to food and the “light bulbs” that led to the creation of the company. He also discussed why it’s critical for co-founders to be aligned on vision and values, what it means to be “a good investor” and the evolution of plant-based food brands.

Pasta brand Banza announced today the close of a $20 million round of funding co-led by Enlightened Hospitality Investments (the growth equity fund associated with restaurateur Danny Meyer’s Union Square Hospitality Group) and fund Prelude Growth Partners. When Banza launched in 2014, the concept of bean-based pasta alternatives was new and fairly untapped. Now, with plenty of companies also selling these offerings, Banza feels its time to focus on their brand and enter new channels.

Pickle producers want people to peek past picnics, parties and paper plates. To freshen up the pickle set and appeal to busy consumers, companies are creating snack-size pickles in convenient packs, expanding usage occasions for the savory, low-calorie snack.

Los Angeles-based private equity firm Butterfly today announced its acquisition of a majority stake in “clean” protein brand Orgain. The deal is Butterfly’s fifth investment and second in beverage, following the purchase of fresh juice focused Bolthouse Farms earlier this year.

Plant-based labeling lawsuit dropped, Kroger rebrands, Tofurky Christmas sweaters and more in this week’s Checkout.

In outlining plans to build around better-for-you and plant-based products during recent quarterly earnings calls, several prominent CPG brands signaled they expect both trends to continue gaining steam.

Rachel Klein is the owner of Revival Food Co., the makers of indulgent and nourishing stone ground almond butters with no added sugar or preservatives. Revival is known for its flavorful and funky lineup featuring ingredients such as rosemary, maca and chai spices.

Last week Rep. Anthony Brindisi (D-NY) and Rep. Roger Marshall (R-KS.) proposed the Real Marketing Edible Artificials Truthfully Act (Real MEAT Act) to Congress, which would establish strict guidelines against labeling alternative proteins as “meat.” Although the meat versus plant-based battle isn’t new, up until now, legal action on the matter has happened only at the state level — this is the first federal bill addressing the subject.

Functional food brand Good Day Chocolate announced last week it would be entering the CBD fray with the launch of three new CBD-enhanced chocolate bites. The launch follows the close of $3 million in investment this summer and the addition of a new Chief Growth Officer with experience in the segment.