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

Are plant-based cheese alternatives having an existential crisis after one of the biggest cheesemakers refocused its approach to the category?

Creator-backed candy company Joyride (formerly Project 7) has raised a $30 million round, per a Form D filed with the Securities and Exchange Commission (SEC) on Wednesday.

Grillo’s Pickles announced plans to build a $54 million manufacturing plant in Bartholomew County, Ind. The 155,000 sq. ft. facility will employ up to 150 workers and is adjacent to a $175 million King’s Hawaiian bakery operation.

In this week’s new products roundup, Purely Elizabeth jumps on the protein craze, Alec’s Ice Cream whips up a collaboration with Graza, and Brass Roots launches an allergen-free alternative to peanut butter.

French dairy conglomerate Bel Group has decided to shut down its plant-based cheese brand Nurishh after four years on the market. The business will close by the end of the year, with Bel citing challenges to make it a profitable and sustainable part of the portfolio.

This week, the podcast team discusses the merger of two legacy cheesemakers and the exit of a major beverage alcohol distributor from a key spirits market. Next, the hosts dig into the debut of digitally-native supplement brand AG1 in physical retail and explore why the news of an energy drink startup’s new investor brings fresh opportunities for its growth goals.

There’s a new-ish manufacturer in town. After Flavor Reddy Foods grew its food manufacturing footprint via M&A in the past two years, the company is bringing the combined businesses together under one new entity, Trillium Foods.

Dr. Bronner’s has transferred ownership of its 10-SKU chocolate bar line to Magic Chocolate Inc., a new entity formed by the brand’s long-term partners to help scale the line independent of Dr. Bronner’s business.

Bean-based snack slinger Remix Snacks is entering a new chapter of growth, announcing yesterday its acquisition by AM Ingredients (2021), its co-packer of four years. Terms of the deal were not disclosed.

Most Americans are concerned about the economy and recent sentiments from surveys and CEOs signal the same thing: consumers are cooking more at home. But this increase doesn’t necessarily mean CPG sales are about to surge.

Commerce agency Harvest Group is strengthening its position in the club channel with the acquisition of Next Step Club Solutions, a Costco-focused brokerage firm. Financial terms of the transaction were not disclosed.

New government policies liable to drag down retail growth could be to the benefit of online grocers, with U.S. online grocery sales expected to outpace brick-and-mortar by 5.2x through 2029, according to a new report from ecommerce data and consulting firm Brick Meets Click.

Last week’s blockbuster investment news about David – including a $75 million round from investors and a post-money valuation of $725 million, according to co-founder Peter Rahal – is also creating a supply chain gridlock for a number of other brands.

In this reviews roundup, we chomp into Kencko Fruit Snaps, pi00a frozen pizza and Forager Project’s new plain Greek-style yogurt alternative.