Food Industry News, Insights, and Education for the CPG Community

Food tech company GrubMarket has acquired distressed online grocery platform Good Eggs in the latest example of a highly competitive market for ecommerce food delivery companies.

BellRing Brands – the producer of Premier Protein and Dymatize brands – reported 15.6% net sales growth to $515.4 million in its Q3 earnings report this morning as the company works to build up demand and household penetration for its shakes and powders.

This week, Akua founder and CEO Courtney Boyd Myers announced via LinkedIn that kelp-based burger producer is shutting down, citing packaging, manufacturing, warehouse and shipping “catastrophes.”

Despite a spike in private label popularity, TreeHouse Foods posted a 1.9% sales decline in Q2 as the company’s balance sheet recovers from significant divestitures and it works to regain momentum after a planned renovation to its broth facility.

Also in this edition: Treehouse Foods posts Q2 loss, inside the rumors around Kellanova’s acquisition by Mars, details on Agrovision’s $100 million raise and a roundup of new pumpkin products.

Also in this edition: this week’s new products, how a Friendly Bread is diversifying via the freezer, IFG snaps up a Killer Brownie brand and surprising foods that are all the rage at the 2024 Paris Olympics.

Frozen sourdough grilled cheese startup A Friendly Bread is opening up access to its hottest asset: freezer space.

In this week’s notable new products roundup, Little Spoon joins forces with Graza, Kroger unveils its latest private label brand and Hippeas adds two new Mexican-inspired flavors.

Get ready for our August Community Calls! This month, dive into how POD Foods can slash your distribution costs, gain insider tips from Amazon on optimizing integration and reviews, learn from big CPG innovations, and explore the timeline for profitability in retail.

On this episode of CPG Week, the podcast team teases their Nosh Notables honorable mentions, details the latest investment for a fast-growing food brand and discusses the different marketing approaches food brands are taking in the Ozempic Era.

The Kraft Heinz Company lowered its full-year outlook after reporting lower-than-expected Q2 earnings yesterday, citing “cautious” consumer sentiment on grocery prices amidst downtrading across center-store categories.

The latest episode of Elevator Talk features leaders from Globowl, Cien Chiles, Lottie’s Meats, Darë Vegan Cheese and Laoban. Watch founders and CEOs introduce their brands and provide a recap of recent news and updates. Our special co-host is Brandon Partridge, a principal with 202 Consumer Ventures, who shared his thoughts, questions and feedback with the participants.

Also in this edition: Oats Overnight soaks up $35 million, Siddhi closes on $135 million Fund II, details from Sprouts’ earnings and how Above Food is building on regenerative ingredients.

Siddhi Capital announced the closing of its second fund today at $135 million; the new vehicle marks the firm’s shift from startup to growth equity stage investments and a broadening beyond food and beverage.