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

Food conglomerate Mondelēz International has agreed to pay $2.9 billion, with additional contingent earnout consideration, to acquire organic snack bar maker Clif Bar & Company.

The Austin-based company has been on a path toward rapid growth over the past year: participating in Mondelez’s inaugural CoLab class accelerator program, securing additional early-stage funding, designating c-suite duties to former NFL player and sports broadcaster Tim Tebow and launching its first new product line: Plant Krunch Bars.

New Harvest, a non-profit dedicated to advancing cellular agriculture in food and beverage, addressed one of the leading questions for the biotech industry: how can cultured protein be readily accessible to consumers without causing more harm than conventional agriculture?

In this week’s Checkout: Nuts For Cheese raises $5 million to expand operations and production capabilities; Smallhold opens urban mushroom farming location in Los Angeles; and DouxMatok secures its second partnership for Incredo Sugar.

Mars is partnering with food tech company Perfect Day to launch a new chocolate bar made with animal-free whey protein. The bar, which will be released under a new brand called CO2COA, is the latest chocolate product launch featuring Perfect Day milk protein as the ingredient company tries to push further into the confection set.

In this distribution roundup: Blue Stripes Urban Cacao adds Whole Foods as retail partner; Moonshot Snacks launches nationwide at Target; Vermont Tortilla Company expands to Sprouts; Mary’s Gone ‘Kookies’ roll out to a range of new retailers and more.

There was a wide array of new products present at the Summer Fancy Food Show 2022, with many brands embracing globally-inspired flavors and plant-based iterations of traditional meat products. Checkout the roundup below for a selection of notable new products spotted during the show this week.

The Specialty Food Association (SFA) Summer Fancy Food Show returned in-person to New York City this week for the first time since 2019. While more limited in its scope, energy and total attendees than mega-shows like Expo West, the biannual event represents an important showcase for CPG brands looking to grow in the specialty food market, which is expected to rise to $185 billion in 2022, according to the SFA State of the Industry report.

Sweet Loren’s CEO and founder Loren Castle announced at NOSH Live Summer 2022 on Wednesday that the better-for-you cookie dough brand will be launching a range of reduced sugar products in Publix next month.

Castle began her presentation by taking audience members on a journey through the history of Sweet Loren’s, which has grown from a frozen cookie dough sold at New York City farmer’s markets in 2011 to a multi-SKU brand of refrigerated cookie dough products available at more than 15,000 stores nationwide. Founded in 2011, Sweet Loren’s was born in Castle’s kitchen as she set out to pioneer a health-conscious sweet treat after beating cancer.

Adaptogenic brownie startup Ruani was crowned the winner of Pitch Slam 12 at NOSH Live Summer 2022 on Tuesday, with founder Anirudh Mamtora taking home bragging rights and a $10,000 industry awareness package.

An eclectic group of six startup food brands (will be moving on to the NOSH Pitch Slam 12 finals tomorrow afternoon to vie for the grand prize of an industry awareness package valued at $10,000.

Jeni’s CEO Announces Departure Speaking on stage during the opening day of NOSH Live Summer 2022 in New York City this morning, John Lowe, CEO of Jeni’s Splendid Ice Creams, announced he will step down from the role after 13 years. Lowe told the audience at the top of his presentation that he has instructed… Read more »

After three years in ecommerce, Magic Spoons grain-free, low-sugar cereals are spilling into retail. The company announced today its top three SKUs – Fruity, Cocoa and Peanut Butter – are rolling out exclusively to Target stores nationwide following the close of a star-studded, $85 million capital raise.

In this week’s Checkout: Everything Legendary and Live Nation announce investment partnership; General Mills invests $3 Million into Eco Harvest; Foster Farms sells to Atlas Holdings and names new CEO; Campbell’s reports Q3 earnings; and SCiFi Foods raises $22 million.