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

In this week’s Checkout: Hakuna Brands rebrands to Must Love; Red Clay Hot Sauce raises $1.5 million; Hershey’s reports Q4 earnings; Dole launches a new “Malnutrition Label” marketing campaign; and Frito-Lay and Dairy Farmers of Wisconsin project Super Bowl snacking stats.

Yesterday ecommerce platform Good Eggs announced the close of a $100 million round of capital, an infusion that will help the company expand into a new geographic region, build out assortment and bring on more support for the growing business.

Brain health bar brand IQBAR is ready to start thinking bigger after securing a new round of funding led by CircleUp Growth Partners, with plans to expand into a new category and grow its presence in ecommerce and retail this year.

Best known for its broad spectrum hemp CBD-infused sparkling waters and energy drinks, the brand further expanded its growing platform with the launch of infused gummies in January.

Base Culture is ready to accelerate the growth of its business, cleaning up classic favorites. The brand, which produces paleo-certified baked goods, breads and nut butters, announced last month the close of a round of funding led by previous investor Emil Capital Partners (ECP) and that the company would see a shift in executives, with a new CEO heading the company.

Just over a year after adding industry veteran Sarah Bird as its CEO, plant-based powdered broth brand Beyond Broth announced last week its new identity as Grace’s Goodness Organics, a move intended to position itself in the broader wellness category with the ultimate goal of building a brand that is “bigger than broth.”

Consumers looking for healthier options in the new year had plenty of new products to choose from, with brands like Solely, Kashi and Siete all launching better-for-you takes on indulgent snacks in January. Check out the gallery for the month’s notable product releases, including new CBD-infused nut butter line Groovy Butter and the latest macadamia nut innovation from Milkadamia.

To kick off the new year, many brands looked to stand out on shelf with new flavors of customer favorites or revisions to their packing. Check out the gallery for this month’s new line extensions and packaging refreshes, including new flavors from Sweet Nothings and Ithaca Hummus, a new look for Honey Mama’s and KIND’s second annual Equality Bar.

For the next edition of Category Close-Up, Product Showcase, we’re taking a deep dive into the trends and news — as well as the innovative brands and products — that are currently shaping the fast paced chips category.

In this week’s Checkout: Partnership for a Healthier America launches “Veggies Early & Often” packaging icon; Zero Grocery expands to Los Angeles; Mondelēz and McCormick report Q4 earnings; and Quevos scores a “Shark Tank” deal with Daniel Lubetzky.

Biltong brand Stryve Foods announced plans to go public on the NASDAQ through a business combination with Andina Acquisition Corp III, a publicly-traded special purpose acquisition company (SPAC). The new company is valued at $170 million, and will be listed on the NASDAQ under the ticker symbol SNAX. Stryve’s goal, the company said, is to become a snacking platform that can exist across categories.

Consumers are always looking for the next great salty snack, which makes chips a fast-turning category that requires significant investment in innovation and marketing. But because the turns are there, emerging brands find themselves competing with deep-pocketed category captains who have established strangleholds on shelf real estate.

When it comes to new products, keto snack brand HighKey follows a simple philosophy: “more is more.” Since its launch in 2018, the brand has wasted no time on its mission to drive sugar out of the American diet, building out a robust portfolio of products online that spans from cookies to candy to baking and breakfast items. Since the digitally native company has expanded to retail, it now uses ecommerce as a testing ground for new launches.

Originally scheduled for late June, the Summer 2021 Fancy Food Show, renamed as the Fancy Food Show, will now be held September 27-29 at the Jacob Javits Convention Center in New York City. The show will be the sole SFA in-person event for this year, after the Winter 2021 Fancy Food Show was previously cancelled.