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

Citing recent supply chain challenges, Credit Suisse lowered expectations for the company’s sales performance ahead of the release of its Q3 2021 earnings report next month.

Plant-based meat brand Daring Foods announced the close of a $65 million Series C funding round today in tandem with its launch into 3,000 Walmart stores. The funding round, its third over the past year, was led by Founders Fund alongside existing investor D1 Capital Group. Tennis star Naomi Osaka, NFL quarterback Cameron Newton, DJ Steve Aoki and Tiger Global founder Chase Coleman also participated.

VMG Consumer Acquisition Corp, a blank-check company formed by Investment firm VMG Partners, filed on Friday with the SEC to raise up to $200 million via an initial public offering.

Kraft Heinz raised its 2021 earnings outlook today, with CEO Miguel Patricio noting the company has performed better than previously expected as it continues to mitigate inflation costs and supply chain shortages.

As if pizza, rice, bread and pasta weren’t enough for cauliflower, now it’s coming for breakfast. Yesterday vegetable-focused frozen food brand Caulipower announced its latest launch, a three-SKU line of Breakfast Scrambles made with a base of cauliflower mixed with eggs, seasoning and chopped vegetables.

The EVERY Company has rebranded and launched a new product in its latest steps to become the “world’s leading animal-free protein platform,” in the words of CEO and founder Arturo Elizondo. Speaking to NOSH, Elizondo shared more details on the rebrand, new product and what’s next for The EVERY Company.

Canadian plant-based food company Above Food announced today its acquisition of Atlantic Natural Foods, including alt-protein brands Loma Linda and Neat, from AFT Holdings. The deal, valued at over $30 million, will grow the new company’s shelf-stable alternative protein offerings while allowing Atlantic Natural access to its vertically integrated plant-based protein supply chain.

Omsom co-founder/CEO Vanessa Pham spoke about the company’s vision to break long-standing barriers in the ways ethnic food is perceived and sold, and how the brand became one of the most publicized startups in recent memory. We also feature an interview with Caroline Cotto, co-founder/COO of Renewal Mill, an upcycled food brand that markets ingredients and finished products.

General Mills has expanded its presence in functional kids products with the launch of Doolies, a new line of snacks and beverages containing fiber and probiotics to help prevent and treat occasional constipation in children. Doolies is the most recent launch from Gworks, General Mills’ corporate venture studio.

Nearly a year after it was passed into law, recycling-related legislation in California is poised to have a significant impact on bottle production in the country’s biggest economy.

In this week’s Checkout, Weee! acquires online Asian food delivery company RICEPO; Oatly debuts an upcycled merch line and announces a new research and innovation center in Sweden; JUST Egg’s key ingredient secures regulatory approval in the EU; and Nestlé reports its third quarter results.

Plant-based wellness brand Kencko has expanded its product portfolio to give consumers a fruit and vegetable-packed “dessert moment,” introducing a line of gumdrops available in four flavors: Berrylicious, Passionista, Gingerella and Bananarama.

Plant-based meat maker Abbot’s Butcher yesterday announced it had closed a $7 million funding round that the California-based company will use to support growth in foodservice and retail along with new product development. Melitas Ventures led the round, with actors Owen Wilson and Woody Harrelson and wife Laura Harrelson also participating alongside existing investors Unovis and SOSV.

E-commerce convenience delivery platform Gopuff launched in New York City this week, with the promise of delivery to New Yorkers in 30 minutes.