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

Vertically-integrated ingredient supplier, agriculture company and CPG producer Above Foods will go public via a reverse merger with blank check company Bite Acquisition Corp. The deal values Above at roughly $319 million

Despite significant gains in recent years, mass-market adoption of plant-based meat, seafood, eggs and dairy remains limited by taste and pricing-related challenges, according to the Good Food Institute’s (GFI) State of the Industry report.

Omsom is taking its unique branding approach to the quick-ready meal category with a 4-SKU line of Saucy Noodles, marking the brand’s first major line extension since the company hit the market in May 2020.

Community Call is a recurring series of open meetings dedicated to pressing topics impacting food and beverage businesses. This month, we welcome a range of guests covering topics such as current hiring trends, using social media to drive sales, how to scale your sales team, and avoiding deduction surprises.

D2C sales growth is leveling out from its explosive heights and the opportunities for startups in the space have tightened to the point that many are simply giving up.

Mondelēz reported strong top line growth on its Q1 earnings call yesterday. In the first quarter, executives noted, 2022 acquisition Clif Bar showed double-digit revenue growth.

The Kellogg Company reiterated preliminary details about the company’s future structure during its annual shareowner meeting today, held nearly a year after it first announced plans to divide up the business.

In this week’s notable new products roundup, Brightland announces the launch of its Pizza Oil, ONE Bar pays homage to a lunchbox favorite with its newest flavor and The Republic of Tea commemorates the premiere of Queen Charlotte: A Bridgerton Story.

In this week’s roundup: Hershey invests in social, environmental supply chain programs in the Ivory Coast; Burcon makes a bid for Merit Functional Foods; Citibank issues new ESG warnings for beef, soy producers; and layoffs reach Tyson and Utz.

The Hershey Company set a positive tone for 2023, raising its full year financial outlook after outperforming expectations in its Q1 earnings report today. According to the company, consolidated net sales were up just over 12% in Q1 to $2.9 billion (organic net sales grew 12.2%) while reported net income increased 10.9% to $587.2 million.

The NOSH team talk about Oatly’s new online marketing campaign, sesame seeds’ new classification as a “Big 9” allergen, Hershey’s acquisition of two Skinny Pop co-packing facilities and an interview with The Coconut Cult’s Ari Raz about manufacturing decisions.

Seeking to add $2 billion in incremental sales from North American innovation efforts, Kraft Heinz Company announced plans to enter a new category in the U.S with the stateside launch of Just Spices.

The Good Food Institute’s yearly report on the fermentation-based food industry showed a growing market share in new protein alternatives but a lack of funding and production capacity hampers widespread adoption.

In the latest episode of Elevator Talk, we feature leaders from Social Brew, Hotpot Queen, Chi Foods and Chakalaka. Watch founders and CEOs introduce their brands and provide a recap of recent news and updates. This week’s special co-host is Carole Sioufi, the chief operating officer of innovation launchpad Branchfood, who shared her thoughts, questions and feedback with the participants.