News
Food and beverage industry news.
Caffeine Fix: Awake Chocolate Raises CAD $8M
Awake Chocolate has raised CAD $8 million (approximately $5.84 million USD) in funding, including CAD $5 million from Btomorrow Ventures, the corporate venturing arm of British American Tobacco, and CAD $3 million from BDC Capital. The investment brings the brand’s total funding to CAD $15.5 million since its inception in 2012.
Marketing: Quinn Refreshes, Mike’s Hot Honey Drizzles
In marketing news, Quinn Snacks unveils a new look, Mike’s Hot Honey drizzles into a national ad campaign, and Old El Paso introduces its new taco night icon.
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UNFI Sustains Up To $75M Loss From Cybersecurity Incident
UNFI’s systems have nearly returned to normal operating levels, but the company believes last month’s cybersecurity breach will result in a loss between $65M to $75M.
2nd Nature Launches A.I. Platform Designed to I.D. Reusable Ingredients
Can A.I. help reduce food waste? Ingredient tech company 2nd Nature sure thinks so. The business launched yesterday a new proprietary A.I. platform called AgWaste Portal, which seeks to find new ways of converting food waste into upcycled ingredients.
Little Sesame Raises $8.5M Series A To Scale Hummus Production
Hummus maker Little Sesame has closed a $8.5 million Series A funding round led by InvestEco Capital with participation from Watchfire Ventures, Santatera Capital, Beliade Consumer Partners, and other prominent individual industry investors.
eGrocery Outpaces In-Store Sales, Driving Shift to Mass Retail
The online grocery sphere appears to have strong momentum as the market’s growth significantly outpaced that of in-store shopping at a time when key demographics are shifting away from supermarkets.
Dessert Holdings Acquires Willamette Valley Pie Company
Dessert Holdings has acquired Willamette Valley Pie Company, a premium private label and branded pie producer. Financial terms of the deal were not disclosed.
Report: Tariffs, Food Safety Fuel Brand Operator Anxiety
Food brand operators are sweating more than the summer heat these days. From tariffs to regulatory moves impacting sourcing and food safety, Dataessential One’s Midyear Trend Report illustrates some of the most pressing topics companies are tracking and adapting to in the first half of the year.
FDA Approves Another Dye, Accelerates Red No. 3 Timeline
The FDA announced it has approved the use of a new natural food dye, gardenia, to bring blue hues to food and beverages amid its ongoing push to phase out synthetic alternatives.
Another Uncrustables Challenger Has Entered the Chat
Jams, a high-protein take on the frozen peanut butter and jelly sandwich, debuted today exclusively in more than 3,000 Walmart stores nationwide.