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

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.

Mondelez’s incubator and investment arm SnackFutures has recently undergone a staffing change, with former PepsiCo investment executive Tapan Shah joining the group last month to head up investing for the snack-focused conglomerate.

Many food and beverage makers often look to adjacent categories for their first brand extension. However, caffeinated bar maker Verb is making a larger leap for its first foray beyond bars: EDM, which stands for Energizing Drink Mix (not electronic dance music). The new line promises consumers a jolt of energy from caffeine, not a bass drop.

In this week’s Checkout, coconut flour-based tortilla and chip maker The Real Coconut rebrands to Sana Foods; low-sugar baby and toddler food brand Serenity Kids raises $7 million; and plant-based bacon maker Hooray Foods secures $2 million in a seed financing.

Today yogurt and dairy conglomerate Danone announced it had sold plant-based nutrition company Vega to private equity firm WM Partners. Terms of the deal were not disclosed.

Here’s another marker that life is approaching a post-pandemic “new normal”: the reintroduction of free samples in grocery stores nationwide. To the relief of brands, who have long relied on sampling to win customers, many retailers announced plans this month to allow brands back in-store for product demonstrations.

Rind Snacks wants to make getting your daily serving of fruits more ap-peel-ing and now it has more powder to make this goal a reality. The snack brand announced this week the close of $6 million in funding, an investment that will help the fruit-focused brand as it makes moves to expand into salty snacks.

We’ve posted the agenda for next week’s BevNET & NOSH Virtually Live event, and we’ve added a new panel to influence you to attend. With so much focus on influencers these days, we’ll be hosting a panel with Thrive Market and CAVU Ventures to address the best ways to exploit emerging social media channels.

Can a Boston based cellular technology company solve the taste and texture challenges around plant-based proteins? Investors are betting more than $200 million on it. Boston-based food technology company Motif FoodWorks announced today it has closed a $226 million funding round, which the company will use to expand R&D capabilities as it looks to “solve key sensory and nutritional challenges” in plant-based meat and dairy products and commercialize its first ingredients next year.