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

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.

Plant-based meat maker Meati has added another $150 million to its war chest to expand production capacity and increase accessibility to its mushroom-root alternative meat product. The company had previously raised a total of $127 million and today’s announcement nearly doubles that, bringing its total funding to approximately $277 million to-date.

FreshRealm, a maker of packaged fresh meals for retail partners, announced today it has closed a $200 million capital raise led by an unnamed “global cornerstone institutional investor.”

One month after initiating a recall, Daily Harvest announced it has identified tara flour as the ingredient that caused reported cases of gastrointestinal illness and liver dysfunction in nearly 200 consumers who ate its French Lentil + Leek alt-meat crumble product.

Plant-based protein brand OWYN has secured growth investment from Purchase Capital, an affiliate of its parent company United Nutritional Brands, as well as from Hammock Park Capital LLC and PowerPlant Ventures, the company announced today.