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

This summer’s Speed Dating events will be even more frequent, as well as more focused. Our upcoming events will be 60 minutes instead of two hours to free up calendars and allow participation in multiple events. Each event is also now focused on a particular fundraising stage and/or category of products to lead to more qualified conversations.

Low-sugar chocolate brand Lily’s is on track to join The Hershey Company. The candy and snack giant today announced its intention to close the deal for VMG-backed, Boulder-based Lily’s.

Nearly a year after being formally separated from Dean Foods, plant-based food and beverage company Good Karma is beginning a new chapter. The Colorado-based company announced today a brand refresh accompanied by the launch of a new line of refrigerated plant-based milks and a direct-to-consumer ecommerce platform.

Despite challenges presented by the COVID-19 pandemic, the plant-based food industry continued to gain momentum in 2020 with increased sales, a strong interest in investment and manufacturing advancements. The Good Food Institute’s (GFI) 2020 Plant-Based State of the Industry report highlighted some of these major achievements in the space last year, while also offering plant-based companies actionable insights for the future. Although the category is buzzy and crowded, there’s still opportunity for companies to innovate and bring new consumers into the category, according to GFI research analyst Kyle Gaan.

In this week’s Checkout, Memphis Meats rebrands to UPSIDE Foods with plans to launch chicken this year; B&G names its new CEO and reports a strong first quarter; Kroger announces a new Go Fresh & Local Supplier Accelerator Program; and Target launches a plant-based line from its Good & Gather brand.

After almost a year of discussions, planning, and strategizing, market research firm IRI has launched the Diversity Advantage Program (DAP), a pro-bono service aimed at supporting minority and women-owned CPG companies by offering access to their market research and analytics, consumer and category insights, as well as training and consulting services.

Massachusetts-based meat and vegetable burger blend maker Grateful Market has secured several retail placements in the Northeast, hitting the freezer section at Hannaford, Shaw’s and Whole Foods, following a channel strategy pivot as a result of the pandemic.

Episode 36 of Elevator Talk features leaders from Chia Smash, Honey Child, Artisan Pops, Zesty Kitchen, OMG…It’s Gluten Free! and Seagreen. Watch founders and CEOs introduce their brands and provide a recap of recent news and updates.

As consumer interest in plant-based eating continues to grow, GW Chew, founder and CEO of plant-based protein maker Something Better Foods, is working to ensure that meat alternative products are created for, and accessible to, everyone who wants them. With new funding from nonprofit venture capital firm ICA, the California-based company hopes to expand availability of its plant-based proteins to minority communities by focusing both on affordable pricing and by developing a portfolio of products that cater to a wide range of cuisines.

Jason Wright, the co-founder and CEO of chicken- and pork-based chip brand Wilde Brands, explained how he was able to land investment without having a finished product, why he regrets working with a co-packer, how he collaborated with retail buyers to establish a new protein-centric segment within the snack category and why the keys to winning consumers over always begins with taste.

Vitamin “bites” brand GEM wants to make the store supplement aisle more tasty and transparent. The company, which makes functional, granola-esque bites, announced today it had raised $7.5 million in funding last month, an investment the largely direct-to-consumer brand will use to help launch into physical stores and expand its product line.

Plant-based protein brand Aloha is getting ready to become a more serious beverage player while also expanding its line of bars further into the natural channel.

For organic egg brand Pete and Gerry’s, it was time to expand the flock. The company announced last week that it had sold the majority of its business to Butterfly, a Los Angeles-based private equity firm. The deal will allow the company to scale into adjacent categories and expand distribution.

Nestlé Health Science has acquired hydration tablet brand Nuun for an undisclosed fee, the company announced today. The deal is expected to close in Q3 2021.