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

In this week’s Checkout: The Texas Beef Council sues former NFL player for partnering with plant-based protein brand, Laird Superfood names new CEO with an update on the business and Zero Acre Farms closes $37 million Series A funding round.

The Hershey Company saw net sales rise 10.1% to over $8.9 billion in 2021, according to the company’s Q4 and full year earnings results released yesterday. Organic, constant currency net sales for the Pennsylvania-based confectionery giant rose 8.7% in the full year and reported net income was up 16.4% to $1.4 billion. Adjusted earnings per… Read more »

Grassland Dairy Products has acquired seasoned butter brand Medlee Foods, which will operate under a new division called Grassland Specialty Brands (GSB), the company announced on Monday. Terms of the deal were not disclosed.

Meat snack maker 4505 was acquired by holding company Benestar Brands on Tuesday, a deal that comes as the brand looks to expand beyond its flagship pork rinds under a new leadership team. Moving forward, the company plans to expand beyond meat-based snacks.

Family-owned food manufacturer King’s Hawaiian has acquired Hawaii-based beverage brand Shaka Tea, the company announced today. Terms of the transaction were not disclosed. The deal comes less than two years after the baked goods and restaurant company invested in Shaka as part of a $2.3 million funding round. According to a press release, Shaka Tea… Read more »

Nestlé Health Sciences has purchased a controlling stake in Orgain, a plant-based organic protein powder, beverage and nutrition brand started by physician and cancer survivor Dr. Andrew Abraham.

In this People Moves: Christina Pearson leaves Whole Foods for Veyl Ventures, HumanCo’s Against the Grain brings in Mike Watts as President, KIND hires new Global CMO Kelly Solomon, Andrew Ford joins PeaTos as VP of Sales and Marketing and more.

The J.M. Smucker Co. completed the process of divesting from its natural and organic and grains businesses today. Under the terms of the $110 million transaction, which was announced in December 2021, private equity group Nexus Capital Management has acquired all assets and trademarks for brands R.W. Knudsen and TruRoots, together generating net sales of around $140 million in fiscal year 2021.

Snack maker Whisps has reshuffled its executive management team, announcing yesterday that CEO Illana Fischer will become an advisor to the company’s board and executive team, with former Applegate Farms president John Ghingo succeeding her at the helm.

This week on Taste Radio, we share the inspirational story of Adam Bremen, the founder of fast-growing snack bar brand Keto Krisp, who spoke about how perseverance and a can-do attitude has yielded personal and professional success throughout his life. Also, investor Maxine Kozler Koven joins the episode for the first installment of a new regular series in which she provides her insights and analysis of the food and beverage industry.

Pioneering chia beverage maker Mamma Chia is looking to emphasize diversity and empowerment with a comprehensive rebrand, set to begin rolling out to stores this month.

Better-for-you CPG brands are catering to the rising demand for nutrient-dense, better-for-you products with a range of new low-carb, low-sugar and low-calorie sweet and savory snacks over the past month.

Private equity firm SEMCAP invested in Purely Elizabeth last November, the company announced today. The deal, part of a $50 million round, marks the first investment by the firm’s newly launched Food and Nutrition division, which is led by managing partner John Haugen, the former general manager of General Mills’ 301 Inc. investment group.

The race to increase variety with more complex formats within the animal-free and plant-based protein space appears to be heating up, following a busy week of M&A activity and new product announcements. Here’s a recap of the news.