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

Last Friday, food company Sovos Brands filed for an IPO, listing the size of the offering as $100 million, subject to adjustment. The Colorado-based company acquired, owns and operates the Rao’s, Birch Benders, Noosa and Michael Angelo brands. According to a filing with the SEC, the majority of Sovos’ sales were from the Rao’s line of products.

From better-for-you confections to frozen plant-based entrees, August’s latest new products offer consumers a range of low-sugar and grain-free options. Check out the gallery for the newest snack innovations from brands such as Barnana, Simple Mills and Get Real Foods and keto-friendly creations from Cappello’s, Keto Krisp and more.

In this week’s Checkout, Misha’s Kind Foods raises $3 million; Chobani debuts paper cup packaging for its Oat Blend yogurt line; Acosta looks at post-pandemic grocery shopping habits; and Hain Celestial reports its Q4 and 2021 fiscal year results.

Husband-and-wife duo Kaitlyn Brown and Daniel Fernandes believe the benefits of a cup of coffee go deeper than its caffeine-kick. In 2019 the pair founded Savorista, a brand dedicated to producing premium, naturally decaffeinated coffee, which now spans a product range that includes packaged coffee and single-serve individual pourover kits.

On this month’s Market Share we’ll hear from Russell Diez-Canseco, the CEO and president of Vital Farms, about the why the egg and butter producer’s decided to go public last year and how the choice allowed the brand to focus more on its mission.

In this week’s People Moves, VMG Partners brings on Brianna Rizzo as Talent Partner; Bumble Bee adds Connie Shepherd as SVP of Strategy and Business Development; and former Clif exec Liza Darnell joins The PLANeT Partnership as CMO.

Salty Snack brand Beanfields debuted this week a new line of “rings,” its second SKU to go after the puffs subcategory. The company is now in a position where it can look to enter new channels, invest more heavily in marketing and push the brand’s perception, according to CEO Arnulfo Ventura, with plans to hit a $20 million run rate next year.

In this week’s distribution roundup, Solely expands its retail footprint to 18,000; KPOP Foods’ sauces hit shelves at The Fresh Market and Fresh Thyme Market; and Barebells launches at GNC.

Last week plant-based producers Quorn and Planterra Foods announced the opening of new R&D facilities to help accelerate their respective innovation pipelines. For both companies, establishing new U.S.-based headquarters labs and testing facilities not only speaks to the importance of the North American market, but also how heavily plant-based CPG companies rely on innovation in order to gain share.

What’s next for plant-based brands? Chicken nuggets, it seems. Chicken is the most-consumed meat in the country, according to the USDA, and nuggets, like burgers, are an easy stepping stone for meat eaters to transition to a plant-based diet. They’re also particularly appealing to families and younger consumers, fit right in on restaurant menus, particularly fast food, and most importantly, are cheaper to make than other product types.

Chef Ming Tsai may be best known for his Emmy award-winning television program, high-end restaurants or even for landing on People’s 50 Most Beautiful People list, but now he wants to be known for something else: creating an affordable alternative to the Hot Pocket. And he’s on his way — roughly a year after launching his new CPG endeavor, MingsBings, Tsai’s plant-based, frozen bings are sold in five flavors at stores across the East Coast, and are now targeting national distribution.

Last week, plant-based cheese and butter maker Miyoko’s Creamery emerged victorious in what could be a landmark legal case for dairy and meat alternative CPG brands. Citing the company’s first amendment rights, a California judge ruled the company can continue to use terms such as “butter,” “lactose-free” and “cruelty-free.” However, while the case could provide plant-based brands with some much needed legal precedent to defend the practice of using meat and dairy terms on their labels, the fight ahead is anything but cut and dried.

In this weeks checkout: Cox Enterprises acquires Brightfarms, Apeel Sciences closes another $250 million funding round, TRUFF teams up with Taco Bell and Brave Robot launches cryptocurrency payment options.

The Sept. 9 speaker lineup combines experience in determining growth strategy, applying tactics to fuel that growth, and the kind of trade-offs around resources that take place as brands move into periods of growth and scale.