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

In this week’s Checkout, General Mills talks “organizational reshaping efforts” in its fiscal Q4 and full-year 2021 earnings call; The Simply Good Foods Company reports a “resurgence” of bars in its fiscal Q3 earnings call; SnackMagic launches new data initiative Snack Drop; and The Single Origin Food Company raises $1.1 million.

Danone Manifesto Ventures (DMV) announced this week that it has acquired a majority ownership stake in coconut products maker Harmless Harvest. Speaking to BevNET, DMV CEO Laurent Marcel and Harmless Harvest CEO Ben Mand said the deal is primed to help the premium beverage and plant-based food maker to expand its presence in the global market.

California-based CBD company Kadenwood announced this week it has raised $50 million in funding, with $20 million allocated to an upcoming national media campaign to drive consumer awareness for its portfolio of CBD brands, including the recently acquired Healist Advanced Naturals and Social CBD.

June saw plenty of keto-friendly innovation from brands, ranging from spicy hot chicken chips to low-carb cereals and cookies. Check out the gallery for some of the month’s notable launches, including plant-based, grain-free products from RollinGreens, GOOD TO GO and Woodridge Snacks.

Frozen empanada brand Cocina 54 came out victorious at NOSH Pitch Slam 10 as the judges believed the brand’s convenient and authentic take on the Latin American staple will help it become a standout in the freezer aisle.

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.