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

Danone Manifesto Ventures (DMV) announced today that it has acquired a majority stake in premium coconut products maker Harmless Harvest. Terms of the deal were not disclosed. Harmless Harvest is the first U.S. investment to become majority-owned by DMV, the venture arm of French multinational corporation Danone, the company said in a press release.

Low-carb donut producer and NOSH Pitch Slam Nine winner Elite Sweets announced today the closing of a $2 million round of funding. The capital will be used to help the two-year-old company reformulate its line and prepare for its launch into brick and mortar retailers.

The growth of the specialty food industry over the past year was primarily driven by products used for at-home cooking and baking as consumers looked to make easy meals and indulgent treats as lockdowns carried into the new year. In a recent report published by the Specialty Food Association (SFA) with research from SPINS and IRI, the SFA predicts that these categories will continue to lead growth in the industry as cooking at home becomes more habitual to consumers.

Amy’s Kitchen co-founders Andy and Rachel Berliner spoke about how they’ve maintained their vision and focus for the prepared food brand over the years, how a retirement-aged accountant became the company’s most significant hire, why they are extremely patient when it comes to new product development and why their happiness has never been tied to financial gain.

Six startup food brands in categories ranging from snacking to international were selected from a field of 12 to compete in Wednesday’s final round of NOSH’s Virtual Pitch Slam 10, presented by 301 Inc. The five judge-selected finalists are Beyond the Equator, COCINA 54, Honey Child Artisan Pops, Singing Pastures and Down to Cook and the sixth, audience-voted finalist is Daily Crunch Snacks.

Premium chocolate company Scharffen Berger Chocolate Maker has returned to private ownership following its acquisition by The Hershey Company in 2005, the company announced last week. The company will refocus its business on baking chocolate under the leadership of new owner and CEO Paul Cherrie, a confection category veteran, with founder John Scharffenberger returning as advisor. Terms of the deal were not disclosed.

In this week’s Checkout, plant-based nutrition company Equinom raises $20 million; Cuisine Solutions recalls JUST Egg bites; LiveKindly launches two new brands aimed at Gen Z in China; and Motif Foodworks announces new meat alternative tech.

Leveraging supply chains, UNSTUCK is on a mission to support refugees. An extension of nonprofit The Tent Partnership for Refugees, the initiative has developed brand partnerships which it believes can create sustainable change, and it’s demonstrating this power through a new launch with yogurt brand Chobani.

Vega could be in for some retooling. Last week private equity fund WM Partners acquired the performance nutrition brand from previous owner Danone. The deal is part of the firm’s strategy to acquire synergistic brands and then “build operational excellence” in order to better position them for sale to a strategic buyer.

Better Juice, an Israel-based food tech company which has developed an enzymatic technology to reduce the sugar content in fruit juice and fruit-based ingredients, has raised $8 million in a seed funding round that will support the company as it goes to market next year.

Frozen direct-to-consumer baby food maker Tiny Organics announced this week that it has closed an $11 million funding round. The brand, whose mission is to help parents introduce their babies to more flavors, will use the funding to expand its marketing efforts and grow its team as it works to capitalize on consumer interest in frozen products, which accelerated during the COVID-19 pandemic.

North Carolina-based vegan meat maker No Evils Foods earlier this month laid off a number of employees, including its full production staff, amid the shutdown of its manufacturing facility in favor of a switch to co-manufacturing. The company has cited financial challenges, particularly in the wake of the pandemic, as the catalyst for the layoffs and the production changes.

Kids food company Once Upon A Farm announced today it has acquired baby and toddler meal provider Raised Real, putting the company into the frozen food aisle for the first time. CEO John Foraker says other acquisitions may follow.

Alexander Harik, founder and CEO of Zesty Z, a brand of condiments, popcorn and seasonings inspired by the Mediterranean diet, discussed company’s positioning as an authentic food brand designed to reach a broad set of consumers and the process of scaling from a single product to a platform brand.