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

In quarterly earnings calls this week, Post Holdings talks cereal sales and its plan to distribute a portion of its interest in BellRing Brands; Beyond Meat sees a sales bump as foodservice rebounds; and B&G Foods sees a decline in sales while the spices and seasonings segment grows.

In a recap of this week’s quarterly earnings calls, Kellogg’s net sales increase as on-the-go snacks rebound; Blue Apron reports customer loss and average revenue increases; and Kraft Heinz talks “manageable” inflations costs and innovation strategy.

Meat snack brand 4505 Meats has made the jump from salty snacks to meat sticks with the launch of Butcher’s Snacks. The company believes the new line can add incremental sales and increase its D2C business.

Plant-based cheese and butter maker Miyoko’s Creamery today announced the closing of a $52 million funding round which the company plans to use to grow distribution and launch new dairy-free cheese innovations.

CPG-focused investment group Sunrise Strategic announced late last week that it would bring aboard more food and beverage veterans, notably ex-ONE Brands CEO Peter Burns, to help the firm diversify its capabilities. The news comes as the firm also announced it has raised more capital from its financial partner, Trilantic North America.

July saw a range of notable collaborations and partnerships from brands such as Kraft and Van Leeuwen, and AYO Foods and Top Chef competitor Eric Adjepong. Food companies also introduced a variety of new functional offerings ranging from latte blends to adaptogenic trail mixes from Toodaloo. Check out the gallery for the latest new releases, brand debuts, and limited-edition items including a retro rebrand from Cheerios.

his week, we’re joined by Charles Coristine, president and CEO of LesserEvil, who spoke about the better-for-you snack brand’s turnaround from industry outcast to a vertically integrated platform that emphasizes gross margin and innovation.

With humble beginnings as a maker of “hippie health food,” gluten-free and vegan cookie brand Emmy’s Organics is now a step closer to its goal of becoming a “legacy brand.” The brand has been acquired by Grupo Bimbo, the Mexico-based baked goods giant announced last week, and will join its Bimbo Bakeries USA (BBU) portfolio alongside brands such as Entenmann’s, Thomas, Sara Lee and Arnold.

D2C condiment brand Fly By Jing announced late last week that it had raised $5 million from investment firm Prelude Growth Partners. Over the next few months the company will debut in Sprouts stores nationwide along with launches in some regions of Target, Whole Foods Market and Costco.

In this week’s Checkout, veggie burger producer Actual Veggies raises $2.3 million; digital delivery platform Gopuff secures $1 billion; HelloFresh Market debuts in the U.S.; and Manitoba Harvest announces a new research partnership.

If The New Primal was started to help consumers eat like cavemen, then the company has certainly evolved. To help fund this growth, the condiment, sauce and snack company announced today it has raised $15 million from investor Manna Tree.

In a recap of this week’s quarterly and half-year earnings calls, Hershey’s salty snacks and bars see sales bumps, while baking declines; Nestlé talks inflation-induced price hikes and Health Science strategy; and Mondelēz reports growth across snacking and confection.

As a leader, there are always hard decisions to be made — sometimes unpopular or even risky calls. So how do you learn to lean into the fear and uncertainty that can surround these choices in a way that can help your company or your own career? How do you empower and engage your team to move companies forward?
Jolie Weber, the CEO of snack brand Lenny & Larry’s, will delve into these questions, and more, during this episode of Market Share, with host Carol Ortenberg, the editor of NOSH.

Ultra-fresh meal, snack and beverage producer Urban Remedy is doubling down on a strategy to grow sales via its branded kiosks. It’s a move that CEO Paul Coletta says allows the company to achieve better margins, grow faster with less capital investment and puts the company on “path to profitability.” To support this strategy, the company last week announced it had raised an additional $18 million in funding.