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

Gold House, a nonprofit group of Asian & Pacific Islander (API) founders, creatives, and executives, announced today the launch of Gold House Ventures (GHV), a $30 million fund that will place capital in API helmed brands and companies.

This week, we sat down with the co-founders of Vail-based private equity firm Manna Tree Partners and the founders of three portfolio companies, Verde Farms, Health-Ade and Gotham Greens, to explore the relationship between investor and entrepreneur. The discussions revealed how their personal friendship established a baseline for trust and helped create positive outcomes for all involved.

The Food and Drug Administration is now soliciting public comments to evaluate the importance of guidance on food allergens not named in the Federal Food, Drug, and Cosmetic Act (FD&C Act). The final guidance aims to identify and rank allergens capable of inducing anaphylaxis.

In this distribution roundup: Mason Dixie Foods partners with Marriott Select Brand Hotels, Rob’s Backstage Popcorn rolls out at retail, Klimon debuts at Walmart, Meli’s Cookies launch at Costco and more.

We’re featuring interviews with Seth Goldman of Honest Tea and Eat the Change – one of the best-known recidivist brand maniacs out there – as well as Parker Olson of Forij (he lives in the Forij van!) and Zack and Delisa Harper of Funky Mello (they met, made marshmallow fluff, and got married!).

The Very Good Food Company (VGFC) shared its plans for moving forward following the departure of the company’s two co-founders, Mitchell Scott (CEO) and James Davison, chief R&D officer, during its Q4 2021 earnings call on Thursday.

This week’s new products saw plenty of limited-edition innovations from collaborative co-branded pickle flavored chips to a hint of nostalgic, allergy friendly Sesame Street baking mixes from Partake. Check out the latest new product innovations and category expansions from food companies like Grillo’s and California Olive Ranch.

In this week’s Checkout: SnackMagic launches data platform CPGpulse, General Mills invests $15 million for minority and female entrepreneurs, Misfits Market launches private label line and Evol introduces carbon neutral frozen meal line.

AtlantaFresh Artisan Creamery’s case against Whole Foods Market is moving forward after U.S. District Judge Thomas W. Thrash denied Whole Foods’ motion to throw out a $15 million breach of contract lawsuit. The case alleges the natural grocery chain prematurely and ‘abruptly’ broke a seven-year distribution contract with grass-fed dairy producer AtlantaFresh Artisan Creamery and caused the business to go under.

Clif Bar & Company will cease using the slogan “The Ultimate Energy Bar” in conjunction with “an optimal blend of protein, fat and carbs” in its marketing campaigns after the National Advertising Division (NAD) of BBB National Programs found the slogan constitutes an unsubstantiated claim about the superiority of Clif’s snack bars. In its final… Read more »

Beyond Meat has settled a lawsuit, filed by a group of its stockholders in March 2020 alleging the company’s senior management team, including co-founder and CEO Ethan Brown, former executive chairman Seth Goldman and former CFO Mark Nelson, “breached their fiduciary duties.” The litigation was a derivative action related to an ongoing legal dispute brought against the company by its former co-packer, Don Lee Farms.

Mikuna Foods is looking to introduce Americans to Ecuadorian plant-protein ingredient chocho, announcing today the closing of a $5.6 million seed funding round backed by a “mission-aligned collective of private individuals.” The California-based company plans to use the capital to scale operations, expand its supply network and drive brand awareness.

In this People Moves: Laird Superfood names new COO and SVP of Sales; Nutiva and Coconut Secret Brings on New CEO; Petit Pot Promotes Eric Lallart to CEO and Lonna Borden joins Monogram Capital Partners.

Frozen sweets brand Yasso is going deeper in the novelty set with the launch of new Greek yogurt filled mochi, the second product to be released under the company’s new “incubator” model introduced last year.