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

In this week’s Checkout, plant-based snack brand Outstanding Foods and meal delivery service Thistle close funding rounds; citrus-derived CBD brand Peels secures investment from KarpReilly; and Benford Capital Partners recapitalizes Brothers International Food Corporation.

Allergen-friendly snack brand Partake Foods today announced it had raised $4.8 million from investors including Marcy Venture Partners, FF2032 (the investment arm of Lotus Bakeries), CircleUp Growth Partners, and others. The investment comes after the brand announced earlier this week that it would expand beyond the cookie category, launching an all-purpose baking mix.

Plant-based milk maker Oatly is expected to launch an initial public offering this year that could raise as much as $1 billion, according to media reports this week. On Tuesday, CNBC reported that Oatly has hired Morgan Stanley, JPMorgan Chase and Credit Suisse to manage the offering.

According to founder Greg Willsey, Los Angeles-based consumer brands holding company Venice Brands has always had a “unique business model,” launching in 2017 with a plan to found and incubate its own brands while also investing in others. But the firm is narrowing its focus, with a plan to outright acquire majority stakes or build out its own companies, such as its latest venture, online CBD marketplace Arrive Market.

Today snacking and confection powerhouse Mondelēz International announced it was acquiring Hu Master Holdings, the parent company of Hu Products. In 2019 Mondelēz took a minority stake in the company, which included a right of first refusal to acquire the company in an eventual sale. Hu will operate as a separate business, continuing to produce all products at current manufacturing facilities.

The second half of the December new product gallery takes a look at more of 2020’s final product launches, such as baby and kid-friendly offerings from White Leaf Provisions, Silk, True Citrus and Plant Camp. Check out the gallery for more of December’s new releases, including new packaging from GT’s COCOYO and Snacklins and a new Vital Proteins collaboration.

The last products to launch in 2020 reflected many of the top trends in natural products from over the past year in the natural products industry, including plant-based, immunity-boosting and sustainably sourced products. Check out the gallery for several of December’s notable releases, including Simulate’s latest chicken “simulation” and new superfood blends from Orgain and Laird Superfood.

In this session from NOSH Live Winter 2020, Kathryn Peters, EVP of Retailer Services at research firm SPINS, delves into the trends and strategies that saw success in 2020. Peters not only offers insight into how shoppers approached and engaged with natural products throughout this year, but also looks at what channels saw growth, the types of products and portion sizes that yielded the most sales, and the ingredient-based diets that remained relevant.

The effects of COVID-19 on the many facets of the food industry was clearly a major theme throughout 2020, from the impact on food workers’ safety, supply chain disruption, cancelled trade shows and the shift to ecommerce. Despite the tepid investment landscape in the first half of the year as the industry grappled with these many changes and brands faced financial struggles, the latter portion of the year saw several notable deals and launches as the industry adjusted to the new reality the pandemic presented.

The United States Department of Agriculture (USDA) and Health and Human Services (HHS) today released its 2020-2025 Dietary Guidelines for Americans (DGAs). This edition of the guidelines marks the first time the USDA organized its recommendations by life stage, outlining dietary needs from birth to older adulthood, and is the first time since 1985 the USDA has included dietary guidance for infants and toddlers.

In this session from NOSH Live Winter 2020, Bob Burke recaps the changes the past year (and the Covid-19 pandemic) have brought to the natural foods industry, and advises brands what “resolutions” to set for the upcoming year.

Brands celebrated the holidays this year with a slew of seasonal plays offering consumers sweet snacks, stocking stuffers and dishes fit for holiday meals. Check out the gallery for this season’s notable festive releases, including sweet twists on salty classics from Beanfields and LesserEvil and holiday ice cream flavors from NadaMoo!, Halo Top and High Road.

For GoodFish, despite the Covid-19 pandemic, things are going swimmingly. The company announced today it had closed $4 million in funding in a round led by Siddhi Capital.

In an unprecedented step, the FDA today announced via a news alert that it had sent a warning letter to Whole Foods Market for “engaging in a pattern” of receiving and selling misbranded store brand food products that did not carry appropriate allergen warnings.