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

Legume-based snacking brand Hippeas is shaking things up with a new financial backer, the exit of early investors, and the departure of its CEO. The company announced today that it had raised $50 million from investment firm The Craftory, a move that will make the group the largest shareholder in Hippeas.

Swedish ice cream maker Nick’s believes that the easiest way to get consumers to make a dietary change is to require little to no sacrifice. To help implement that goal, and with an ambitious plan for 2021, the better-for-you food company announced last week the appointment of dairy industry veteran Carlos Altschul as CEO, a move that comes just weeks after the brand closed $30 million in funding.

In this week’s Checkout, cell-based seafood maker BlueNalu raises $60 million; Jensen Meat adds a plant-based division; U.S. Soy launches Sustainably Grown U.S. Soy Mark pilot program; Explore Cuisine owner Ethical Brands acquires Edamama; and SPINS secures new investment.

Things are getting official: as upcycled food brands grow in popularity and consumers continue to scrutinize the environmental impact of what they consume, the Upcycled Food Association (UFA) is taking a major step in helping to shape the way consumers view this emerging movement.

Over the last few years, consumers have continued to gain a better understanding of complex environmental issues connected to our current food system, and have begun to ask more from the food brands that fill their grocery carts. Now, upcycled baking brand Renewal Mill is prepared to meet that demand head on.

Americans are closer to seeing what a federally regulated hemp industry looks like today, after the U.S. Department of Agriculture (USDA) released its finalized regulations.

Here’s the problem for Mondelēz International: it’s obsessed with snacking, but consumers are changing what they eat when they snack. Here’s the solution, according to Glen Walter, who is the company’s North American president — buy a company that’s firmly grounded in those changing tastes.

In the latest distribution news, jerky brand PREVAIL builds on West Coast ecommerce success with its retail launch at Erewhon, Otamot rolls out its full sauce line at Sprouts stores nationwide and plant-based meat brands make a push in the foodservice channel.

In this week’s Checkout: WM Partners acquires Jade Leaf Matcha; KIND updates its KIND Kids packaging as part of racial inequality commitments; the fifth annual PepsiCo Greenhouse Accelerator turns its focus to food tech companies; and Gainful and CookUnity close funding rounds.

For chocolate maker GoodSam Foods, the latest brand to emerge from incubator and accelerator BeyondBrands, the goal is simple: make products that are “good for you, good for farmers and good for the planet.” Led by BeyondBrands chief strategy officer and Nibmor co-founder Heather K. Terry, the company recently launched with a goal of using chocolate as a springboard for developing into a sugar-free snack platform focused on transparency and sustainability.

Following the violent attacks on the U.S. Capitol last week, and heeding customers’ increased calls for accountability, food companies, suppliers and retailers alike are adjusting or suspending political donations.

The brewing industry produces 9 million metric tons of spent grain annually, and rather than discard it, Anheuser Busch InBev-backed ingredient supplier EverGrain is giving the nutrient-rich brewing byproduct a second chance as a food and beverage ingredient.

The company that owns Mauna Loa feels there’s power in the “mighty mac.” With a goal to transform the Hawaiian macadamia nut line from occasional treat to nutritional powerhouse, the brand’s leadership team has embarked on an ambitious plan, launching a new look, marketing campaign and innovation strategy earlier this month. The change follows yesterday’s sale of parent company Hawaiian Host Group to a consortium of private investors.

The year 2020 was challenging in ways that few of us could possibly have anticipated. We have seen food and beverage industry members face a global pandemic that upended worker safety, the supply chain, retailing and distribution networks. The ongoing lockdowns have tested endurance and resources, but have pushed us all to find creative ways to survive and evolve.