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

Oatly announced today Q2 revenue of $146.2 million, up 53.3% year-over-year in its first earnings report as a public company.

In this week’s Checkout, Miyoko’s is victorious in its California labeling lawsuit; Mizkan America acquires Born Simple; Coconut Secret announces its sale to Nutiva; and CPG veterans launch a free mentorship program for entrepreneurs.

In an email to customers yesterday distributor UNFI announced that it would shift its Winter Natural Show to a virtual-only format. Mondelez’s investment and innovation group SnackFutures also cancelled a planned showcase for the brands taking part in its accelerator program.

Last month, still hot on the hype of its highly publicized May IPO, plant-based milk maker Oatly sustained its first major setback as a publicly traded company when Spruce Point Capital Management, a research firm focused on short selling, released a 124-page document claiming that the company had misrepresented its success and “will never achieve… Read more »

Citing increasing demand for oatmilk in retail and foodservice, plant-based milk producers Oatly and SunOpta are ramping up production, with both companies announcing plans for new facilities in Texas set to open over the next few years.

Episode 40 of Elevator Talk features leaders from Undressed Snacks, Sorate, The After Bar, Yishi and Lovely Day Bars. Watch founders and CEOs introduce their brands and provide a recap of recent news and updates.

In a webinar last week, Sally Lyons Wyatt, EVP, Client Insights at IRI, Christine Boule, Principal, Client Insights at IRI and Alison Bodor, president and CEO of the American Frozen Food Institute, delved into the growing frozen food segment and identified ways brands can navigate the category to win in retail. IRI also dug into how brands can capitalize on growth in the plant-based meat space and what consumers are looking for in meat alternatives going forward in another webinar earlier this week led by Anne-Marie Roerink, president at 210 Analytics and Jonna Parker, Principal IRI Fresh.

Earlier today, The Specialty Food Association (SFA) cancelled the in-person trade show portion of the Fancy Food Show 2021. Meanwhile, New Hope, and its parent company Informa, announced new Covid-19 related protocols for Natural Products Expo East in response to feedback from attendees and to comply with new health department regulations.

Fresh off its IPO, meat snack company Stryve Foods is already making moves to enter new categories. While the company previously indicated it planned to first enter adjacent salty snack categories such as crackers and chips, it has instead turned its attention to the supplement set, launching new protein powders with a new line called Stryve Nutrition.

This year’s Forbes list of the top wealthiest self-made women featured four founders, leaders and executives behind some of CPG’s most notable brands. Released this week, the full list includes 100 of the top female entrepreneurs and executives, two-thirds of which either founded or cofounded their company and 26 who have served as CEOs.

This week we’re joined by Benjamin Chesler, the co-founder of Imperfect Foods, a pioneering online grocery service that specializes in selling produce and surplus food that would otherwise be discarded. Chesler discussed Imperfect’s roots and mission to reduce food waste on a massive scale and the process for incorporating branded items into its product selection.

With a slew of new product lines over the past few years, That’s It is working to prove that it’s more than just a fruit-based bar brand. As part of its goal to create a plant-based snacking platform across several categories, the brand this month debuted a new energy bar line called Keto Kick, which it hopes will further expand its reach to new consumers.

As part of our Supercharge virtual events series, BevNET and NOSH are going inside the hype to try to help brands understand the methodologies of scale and growth, particularly in the evolving omnichannel environment. On September 9th we’ll explore the costs of growth — both from a cash and staffing standpoint, as well as ways that brands can know they’re ready to begin investing in that growth.

In this week’s Checkout, Tyson Foods mandates vaccines for all U.S.-based employees; Kroger partners with Kitchen United; Danone and Brightseed expand their partnership and Modern Meat launches in the U.S.