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

Last week, the natural food industry showed off its sense of humor as CPG brands took to social media to celebrate April Fools’ Day with eccentric new product launches.

Vertical farming company Upward Farms announced last Thursday that it would be ceasing operations at its Brooklyn headquarters and will not be opening its large-scale production facility in Pennsylvania.

Publicly traded online retailer Boxed declared chapter 11 bankruptcy today, just months after the company announced that it was “exploring strategic alternatives” such as a sale of the business.

Despite rising inflation and a grim economic forecast, CPGs can still access growth capital thanks to a “much broader toolkit” of alternative M&A options, explained analysts from Bain & Company during a webinar this week.

In this week’s roundup: A new report finds consumer perceptions of MSG are shifting, Nestle and Cargill invest $15 million into regenerative ag projects, Mila partners with Simu Liu, Faiir Initiative publishes warning for livestock producers and Last Crumb goes gluten-free.

In this week’s new products roundup, TRUFF teams up with Nintendo to celebrate the upcoming Super Mario Bros. Movie, Enlightened introduces a line of Greek yogurt bars and Bonne Maman challenges Nutella with its take on the classic chocolate spread.

The NOSH team discuss the larger trend of chefs, restaurants and bakeries expanding into CPG, the recent news in cell-cultured meat and how the collapse of Silicon Valley Bank’s has emphasized how CPG brands prioritize how they view working capital.

Marketing supplier Catalina announced it was restructuring its debt under Chapter 11 Bankruptcy Code and in the process selling its Japan-based unit to “strengthen its balance sheet.”

Celebrity-backed Rob’s Backstage Popcorn announced the closing of a $7 million funding round today led by the VC firm of DJ and music producer Kygo, known as the Palm Tree Crew.

Alexandre Family Farm believes old farming practices are in need of new rewards and more support for the environmental ecosystems and rural communities they help sustain.

Good Eggs has raised a new round of capital to help the reportedly struggling online grocer, meal kit and ready-to-eat meal provider continue operating.

Allergy-friendly snack maker 88 Acres has opened a new 30,000 sq. foot bakery in Canton, Massachusetts, significantly increasing its capacity and allowing for a shift back to innovation.

A recent study of 100 individuals published in The New England Journal of Medicine suggests that coffee consumption throughout the day increases physical activity while also negatively impacting a person’s sleep at night; yet, the impact of coffee on the heart are mixed.

UNFI is facing legal action from shareholders after allegedly providing false and misleading financial information following the roll out of its Value Path cost savings initiative, launched in the wake of pandemic-induced supply chain volatility.