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

San Francisco-based office food service provider and snack delivery service garten today announced its acquisition of East Coast sister companies LeanBox, a provider of healthy fresh food kiosks, and Grind Coffee, an office provider of coffee kegs and beans. The deal gives West Coast-focused garten access to LeanBox’s East Coast accounts.

Canadian cannabis producer Tilray Inc. has acquired a majority stake in dispensary chain MedMen in a $165.8 million deal, the company announced today.

Meat Snacks brand Country Archer is making moves from grass-fed beef to mushrooms, announcing today the launch of a new line of plant-based jerky. The launch comes after the company also added new CPG leaders to its executive team in preparation for its next phase of growth.

In this month’s Category Closeup Condiments: Expert Analysis, we’ll hear from a group of industry leaders about the tactics, trends, and efforts successful condiment brands must embrace. We’ll explore both the unique dynamics of the set, as well as the opportunities for growth and innovation.

On its first quarterly earnings call since going public last month, Stryve Foods reported net sales were up 71.8% to $7.4 million for the quarter and gross profits of $3.6 million in the second quarter, an increase of 148.3%. The company also discussed its ecommerce strategy, its plans to reach Hispanic shoppers and why it decided to enter the nutrition category.

Alongside healthcare, financial services and software companies, dozens of food and beverage brands were ranked on Inc.’s annual 5000 list of the fastest-growing privately-held companies in the United States. Released today, the 2021 list features an array of companies with a direct-to-consumer focus, highlighting the pandemic’s lasting impact on consumer shopping habits.

This week we’re joined by Teresa Tsou and Jeff Martin, co-founders of Pipsnacks, which markets classic salty snacks made with a base of heirloom corn. The pair spoke about the brand’s unique positioning, how they navigated a tumultuous funding round and a key partnership that has boosted its innovation strategy.

Over the past several weeks, plant-based brands have seen distribution gains with Wholly Veggie and Daring Foods joining the shelves of Whole Foods Markets and Impossible launching its new sausage line in retail.

Oatly announced today Q2 revenue of $146.2 million, up 53.3% year-over-year in its first earnings report as a public company.

In this week’s Checkout, Miyoko’s is victorious in its California labeling lawsuit; Mizkan America acquires Born Simple; Coconut Secret announces its sale to Nutiva; and CPG veterans launch a free mentorship program for entrepreneurs.

In an email to customers yesterday distributor UNFI announced that it would shift its Winter Natural Show to a virtual-only format. Mondelez’s investment and innovation group SnackFutures also cancelled a planned showcase for the brands taking part in its accelerator program.

Last month, still hot on the hype of its highly publicized May IPO, plant-based milk maker Oatly sustained its first major setback as a publicly traded company when Spruce Point Capital Management, a research firm focused on short selling, released a 124-page document claiming that the company had misrepresented its success and “will never achieve… Read more »

Citing increasing demand for oatmilk in retail and foodservice, plant-based milk producers Oatly and SunOpta are ramping up production, with both companies announcing plans for new facilities in Texas set to open over the next few years.

Episode 40 of Elevator Talk features leaders from Undressed Snacks, Sorate, The After Bar, Yishi and Lovely Day Bars. Watch founders and CEOs introduce their brands and provide a recap of recent news and updates.