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

Hershey’s announced today that it had entered into an agreement to buy pretzel brands Dot’s Homestyle Pretzels (which includes the company’s four pretzel seasoning facilities) as well as its copacker, Pretzels Inc. The total purchase price for both companies is $1.2 billion. Combined, the two businesses had an estimated aggregate net sales of roughly $275 million for the 12 months ending September 2021.

In this funding roundup, Future Farm raises $58 million ahead of its U.S. retail debut next year; AKUA closes a $3.2 million round to launch its Kelp Burger in retail; Shiru secures $17 million with plans to double its workforce and move into a new headquarters; and Aqua Cultured nets $2.1 million to support research and development.

The National Association of Convenience Stores (NACS) is suing the U.S. Occupational Safety and Health Administration (OSHA) over its updated COVID-19 vaccination and testing standards, the trade group announced on Tuesday.

Episode 46 of Elevator Talk features leaders from Villa di Como Ristorante, unbun Foods, Alex’s Awesome Sourdough, Senor Lechuga Hot Sauce and Resist Nutrition. Watch founders and CEOs introduce their brands and provide a recap of recent news and updates. Our co-host is Corey Rateau, a Senior Category Manager with Good Eggs.

Two months after the company increased prices 6% to 10% across its product portfolio, Hain Celestial president and CEO Mark Schiller warned of additional price hikes to come during its first quarter fiscal 2021 earnings call yesterday.

Late last month, Swedish better-for-you snacking and ice cream brand Nick’s announced it had raised $100 million. Speaking to NOSH about the raise, Carlos Altschul, Nick’s USA CEO, said the funding will allow the company to take advantage of its current momentum and accelerate its rapid global growth.

On Blue Apron’s third quarter earnings call today, CEO Linda Findley said the meal kit maker experienced a return to more “normal” pre-pandemic conditions during the third quarter and is now aiming to up its marketing spend to attract more customers following a capital raise closed last week.

Erewhon Chief Growth Officer Kabir Jain discussed the upscale grocer’s emphasis on being first when it comes to carrying new and unique concepts, how it defines innovation and why he describes brand selection as both “an art and science.” He also discussed the throughline for fast-growing food and beverage categories, and how the chain is supporting brands with highly actionable sales data.

After finding its own path, Lantern now has its new guide. Last week, the Boston-based cannabis delivery platform announced the promotion of its president, Meredith Mahoney, to co-founder and CEO.

Gavin Konkel recently put together the entire food assortment for Earth Fare — and he’ll talk with NOSH Live attendees about the ways to make gains in retail when he speaks at the conference. Konkel, VP of center store merchandising for the 23-store chain, oversees the company’s grocery and wellness merchandising; after a change in ownership, he was empowered to drive an entire assortment reset geared toward helping Earth Fare meet the needs of the next generation of shoppers.

Canadian publicly traded investment company Eat Well Investment Group has secured a majority stake in PataFoods, maker of baby food brand Amara Organic Foods, as part of the brand’s $12 million Series A funding round.

On Friday frozen food brand The Real Good Food Company (TRGFC) began trading on the Nasdaq. The company’s plans for growth include increasing its distribution, continuing to cultivate a loyal fan base, and expanding its product portfolio.

Sustainability is no longer “just a Wall Street issue,” according to Innova Market Insights’ recent Top Ten Trends for 2022 report.

In this week’s Checkout, UPSIDE Foods opens a new 53,000 square foot facility in Emeryville, California; Utz acquires snack brand RW Garcia; Farmstead announces plans to offer grocers dark store and delivery solutions; and FMI looks at consumer attitudes toward holiday grocery shopping.