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

Nestlé’s U.S. R&D Accelerator has partnered with animal-free dairy company Perfect Day to launch an alternative dairy “novel product” that will pilot in the U.S. market later this year.

Indoor farming company Gotham Greens announced today it raised $310 million to expand the reach of its “decentralized agricultural” systems nationwide and expand its array of CPG products, with new launches set for later this month.

Ryan Williams, the former VP of Finance and Ops at RISE Brewing Co., has created a tool called the Food and Beverage Investor Database (FABID) which aims to help new entrepreneurs in the food and beverage industry navigate the complicated world of fundraising.

Condiment brand Bachan’s announced yesterday it has raised $13 million in capital, impressing investors with its plans to hit over $30 million in revenue this year.

This week’s roundup of notable new products brings better-for-you iterations of classic childhood treats, innovative allergy-friendly products and new collaborations like Siete Foods and Nixta.

In this week’s roundup: The Very Good Food Company announces it is exploring strategic alternatives for the business, HumanCo invests in better-for-you restaurant brand True Food Kitchen, Finn Partners acquires Rachel Kay Public Relations, The Plant Based Food Institute officially launches and Acosta finds shoppers are still split between in-store and online.

Venture capital firm PowerPlant Partners announced today the close of its Fund III at $330 million. Double the size of its 2019 predecessor, Fund III will focus its investments solely in growth stage companies and consumer-facing brands “that are better for the people and planet.”

Wicked Kitchen announced today that it has acquired the North American rights to Good Catch, a line of plant-based seafood entrees and appetizers. Following the sale, Good Catch’s parent company, Gathered Foods, will shift its focus solely on B2B operations with services including product formulation and co-packing.

Consumers are increasingly seeking out fresh and convenient options, leading retailers to reconsider store layouts and invest in technology to improve their efficiency and omnichannel capabilities.

Grocer Misfits Market is eating up the competition, announcing today it will acquire fellow e-commerce retailer Imperfect Foods. The deal will put the combined company on a path to hit $1 billion in sales and achieve profitability by 2024, a press release said.

DTC cookie brands, like virtually all other CPG brands, are still feeling the heat of the over-baked supply chain and inflation propelled by the lingering pandemic.

Meat companies are making blended meat and vegetable burgers and sausages catering to the flexitarian lifestyle but the success of the niche category depends a lot on how brands strategize their marketing to health and sustainability-minded consumers.

With Natural Products Expo East arriving Sept. 28 in Philadelphia, conference host New Hope Network has introduced a set of guidelines to improve the safety of attendees and create an atmosphere of respect at the event.

Chobani scuttled its public offering plans on Friday, citing “current market conditions.” The news comes over a year after it filed with the SEC and six months after announcing it would delay its public offering.