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

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.

In this week’s Checkout: ChickP closes $8 million funding round and brings in a new CEO, Bush’s Beans activate its ‘Can’ Film Festival competition and indoor farm Plenty partners with Walmart and closes $400 million funding round.

Unovis Asset Management has closed a second fund valued at roughly $162 million as the venture capital firm plans to invest in companies that offer consumers ‘a menu’ of plant-based food options.

The Planting Hope Company acquired legume-based rice alternative brand RightRice from Betterer Foods for $7 million in an all-cash acquisition earlier this week. The deal places all of Betterer’s assets under the publicly traded company.

Blended meat brand Misfit Foods has a new name: Phil’s Finest. The new branding and packaging overhaul is designed to help the company move beyond its roots in the juice category, according to founder and CEO Phil Wong.

In this distribution roundup: Spudsy reaches Whole Foods with latest product launch, nib mor launches at BJ’s wholesale club stores, Brewpub Jerky enters Publix across the Southeast, Pan’s Mushroom Jerky signs on with Kroger and more.

Trading savory for sweet, CPG executive Arnulfo Ventura announced today that he has left bean-based snack brand Beanfields to be CEO of sustainable snack brand Alter Eco. “I think we really have a chance to set the mark for what it means to be the regenerative snack company for the future,” Ventura told NOSH.