News
Food and beverage industry news.
Hershey’s Picks Up One Bar To Enhance Snack Portfolio
As part of its shift from confection to a broader snacking platform, Hershey announced yesterday its acquisition of the low-sugar, high-protein ONE Brands portfolio. The purchase price, which was financed with cash on hand as well as short term borrowings, was $397 million.
Chobani Appoints Peter McGuinness as President
Greek yogurt market leader Chobani announced today the promotion of CMO Peter McGuinness to president, effective today. McGuinness will report to founder and CEO Hamdi Ulukaya.
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Vermont Village Acquired by Stonewall Kitchen
Specialty food company Stonewall Kitchen this morning announced an agreement to purchase the Vermont Village brand, a producer of organic applesauce and raw apple cider vinegars, from parent company Village Cannery of Vermont. Terms of the deal, which is expected to close in September, were not disclosed.
Distribution Roundup: Mesa de Vida Goes Nationwide at Whole Foods
In the latest distribution news, Mesa de Vida launches in Whole Foods nationwide and Cali’flour enters Walmart and expands in Kroger.
Anvyl Gives Companies a Window Into Supply Chains
As CPG e-commerce grows, and new brands need to quickly scale, siloed, manual supply chains create a huge issue — one that software hub Anvyl is looking to simplify for brands and suppliers.
The Checkout: Target’s New Private Food Label, Whole30 Virtual Restaurant Launches
Target’s new private food label, Whole30 virtual restaurant launches and more in this week’s Checkout.
Taste Radio Insider: This Company’s Founder Is Not The CEO. Here’s Why It Works Exceptionally Well.
Bobo’s founder Beryl Stafford and company CEO T.J. McIntyre spoke about their work dynamic, how they assigned responsibilities and guidelines for their respective roles, and why “the one thing that really serves as the foundational element of who we are is the actual bar.”
Protein Play: Quest Acquired for $1 Billion
The Simply Good Foods Company, a producer of nutritional foods and snacking products, announced yesterday it will acquire protein-centered brand Quest Nutrition for $1 billion in cash.
All Grown Up: Pipsnacks Debuts New Snacks, Fresh Packaging
Former Shark Tank winner Pipsnacks is growing its family of heirloom corn snacks, launching new cheese balls and corn chip dippers into retail this month. The Brooklyn-born company is also rebranding its image, pivoting away from its artisanal roots as it seeks to expand.
CBD Mix Maker OLEO Closes $1.5 Million Round
CBD-infused drink mix maker OLEO, Inc. announced today it has raised $1.5 million in a convertible note round, which will help the Seattle-based brand scale distribution for its line of products.