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

Plant-based start-up platform LiveKindly Collective announced yesterday the close of a $335 million funding round as the company looks to extend its brands’ reach to new geographies, while also growing its portfolio through new acquisitions and strategic partnerships.

Looking to straddle the confection and nutritional bar categories, bar brand Mid-Day Squares announced this week the closing of a $4 million funding round that will allow the outspoken Canadian company to expand further into the U.S. market. The four-year-old company expects to have $10 million in revenue for 2021, its co-founders said.

In this week’s investment-focused Checkout, nut butter and snack brand Abby’s Better lands $1 million and adds Kevin Love and Kate Bock as investors; cultivated meat company Meatable secures $47 million; and JUST Egg maker Eat Just raises $200 million.

For the 32 million Americans who suffer from food allergies, access to safe and affordable specialty care — including allergy-safe food — is a necessity. But that doesn’t mean that it’s available on an equal basis, particularly for minority or low-income consumers. A new report from the food allergy advocacy organization FARE (Food Allergy Research & Education) has identified systemic racial and economic inequity — both in healthcare and with regard to a lack of access to allergy-friendly food — as the root obstacles to that specialized care. To help further its mission, FARE is identifying ways CPG food brands can advance equality initiatives in the food allergy community.

Having already made the jump from operational consulting to investing, the principals behind Siddhi Capital this week filed with the United States Securities and Exchange Commission (SEC) to launch a proposed special purpose acquisition company (SPAC).

From pho to penne, this month during our Category Closeup: Product Showcase we’re exploring innovation and growth strategies for a group of rising noodle brands. Speaking with executives from brands producing shelf stable, fresh and frozen products, we’ll hear the views of the entrepreneurs who are currently shaping this broad set of categories.

During its fiscal third quarter earnings call today, General Mills reported a continued focus on its “Accelerate” strategy, a growth model that includes brand building, innovating, scaling and being a “force for good.” The company also discussed changes to its Yoplait operations and financial structure and offered a look at how pandemic-driven consumer habits have continued to impact sales across several categories and channels.

The virtual world is a busy one and so we’re in frantic preparation to rush out our next Supercharge event for April 20. This one-day event will provide a concise but impactful look at the key trends influencing marketing and branding strategies for food and beverage brands.

This month, Evolve, Cytosport’s plant-based protein platform brand, will debut a new brand identity and reformulated products across its range, beginning with its core shake line. With dairy-based Muscle Milk experiencing double-digit sales declines, according to Nielsen data, Evolve is positioned to be Pepsi’s primary growth driver in plant-based protein, a space that includes players like OWYN, Koia, Orgain and Aloha.

Given the plethora of pasta options available, it can be daunting to think about how a brand can add incremental value to the set or best appeal to shoppers. In this month’s Category Closeup: Expert Analysis, we’ll hear from a group of industry leaders about these quandaries and more, exploring the market dynamics facing pasta brands as well as how the Covid-19 pandemic has impacted consumer shopping behaviors.

The last year has caused upheaval to many aspects of the food and beverage industry. But one element that doesn’t seem to be impacted is investing, with business analytics firm CB Insights finding that funding to the sector is on the rise.

After selling its Austin, Texas manufacturing facility last November, veggie noodle and rice brand Cece’s Veggie Co. is making another major change. Cece’s founder Mason Arnold announced this month that he has stepped down as CEO of the company, with president Wade Groetsch taking over to lead the company in its next stage of growth as it seeks expanded distribution and new innovation.

Chobani has teamed with PepsiCo to further its ambitions in the refrigerated space through a pilot distribution program that will take the yogurt maker’s products into convenience retailers, colleges and universities across the Northeast starting this month.

In this week’s Checkout, Asian and Hispanic e-grocer Weee! raises $315 million; Meatless Farm opens a new Canadian plant and launches ingredient subsidiary Lovingly Made Ingredients; Once Upon a Farm ages up with a brand refresh; and Fridge No More closes a $15.4 million funding round.