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

The Hershey Company announced double digit sales growth in its second quarter earnings report Thursday morning, leading the confectioner to raise its guidance for earnings per share and sales for the second half of the year. A growing salty snacks business played a key role in revenue growth.

During an earnings report this week, Mondelez CEO Dirk Van de Put detailed the company’s plans to drive growth for Clif Bar, which the company agreed to acquire last month in a $2.9 billion deal.

Vegan Rob’s Launches Token, Announces Metaverse Ambitions Plant-based snack brand Vegan Rob’s is looking to battle world hunger with a new cryptocurrency, Vegan Rob’s Token (VRT), announced this month. Developed in partnership with Nick Dazed, founder of the Tigerqueen cryptocurrency, VRT will launch later this month on the UniSwap exchange and will be tradeable on… Read more »

Functional food and beverage brand Mindright is moving further into the snack set with the launch of a new line of adaptogen-enhanced puffed chips.

Global food giant Kraft Heinz reported a 10% increase in organic net sales this quarter, despite retail volumes decreasing approximately 4%. During a call with investors this morning, CEO Miguel Patrico attributed the performance to three core pillars – GROW brands, Foodservice and Emerging Markets – “hitting on all cylinders.”

Dr. Praeger’s Sensible Foods announced today that long-time CPG executive Andy Reichgut has been appointed as the company’s new CEO, filling the position from founder Larry Praeger who has held the role since the company’s inception in 2013. Praeger will move into a Special Advisor role and will remain an active board member.

The protein-packed legume has roots that date back thousands of years and served as a key protein source for indigenous populations spanning from ancient Egypt to the Andes Mountains. So why is the CPG world now giving this ancient legume a second look?

Snack brand Biena Foods is looking to go after calorie conscious shoppers, launching a new line called Tasty Thins.

Plant-based cheese maker formerly known as Conscious Cultures announced today it has dropped its former moniker in favor of the more “playful” name Bandit, in an attempt to better highlight its scrappy origin, said founder and CEO Bo Babaki.

Less than two years after its opening, organic frozen food company Amy’s Kitchen has shut down its production plant in San Jose, California according to multiple reports this week. Paperwork filed with the state indicates that manufacturing operations stopped on July 18, but the factory will not officially cease operations until September 16, eliminating 331 jobs.

In this week’s Checkout: Catalina publishes report on post-pandemic consumer trends, SPINS partners with Naturally Network, Talenti supports Black Food Folks fellowship for third year running and FDA issues a review of human foods programs.

This week’s roundup of new products saw brands making chef-inspired condiments accessible to everyday consumers, creating plant-based versions of a popular seafood dish and rolling out seed-based granola bars inspired by a favorite cookie variety.

Numerous CPG food & beverage brands have taken to social media this week to announce their selection to participate in 7-Eleven’s 2022 ‘Brands with Heart’ program. For the fourth year, the 7-Eleven, Inc. Brands with Heart campaign will enable brands to enter the c-store retail channel by introducing their products to 7-Eleven, Speedway, and Stripes consumers nationwide.

After a successful pilot test last June, functional food company IQBAR is more than doubling distribution of its vegan nutrition bars in Walmart stores. The product is now available in 4-count multipacks (MSRP $6.97) in three flavors – Banana Nut, Almond Butter Chip, Peanut Butter Chip and Chocolate Sea Salt – in 1,800 Walmart stores nationwide. The bars will be stocked in the “Keto protein bar section” in grocery, IQBAR founder and CEO Will Nitze said.