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

Today ghee brand 4th and Heart announced the appointment of Max Dichter as president following the departure of founder and former CEO Raquel Tavares. Dichter, who has been with the company for two years, is taking over after Tavares left the company in July.

Food company Sovos Brands announced today it has signed an agreement to acquire pancake and waffle mix brand Birch Benders, deepening Sovos’ presence in the breakfast and snacking categories as it seeks to expand the brand’s distribution, marketing efforts and product offerings. The transaction is expected to close by the end of October.

Refrigerated bar brand Clio Snacks announced the close of an $8 million funding round yesterday, which was led by long-term investor Alliance Consumer Growth (ACG).

Say hello to the BevNET and NOSH content calendar, where we list the upcoming free and subscriber-only happenings that you won’t want to miss for each site. Featuring a swath of new shows as well as our ongoing Office Hours and Elevator Talks, the calendar is our handy way of getting the word out on what’s coming up.

Natural and organic products maker Hain Celestial increased net sales 1% to $512 million in Q4, the company announced today in its fourth quarter and 2020 earnings report, after Q3 marked the first time the brand saw gains since 2018.

Canadian frozen food brand Sol Cuisine announced last week the close of a $10 million funding round as the plant-based brand looks to expand its U.S. distribution footprint, while also investing in new marketing efforts and product innovation.

As the assets of dairy conglomerate Dean Foods continued to be divided up following the company’s bankruptcy filing, plant-based dairy brand Good Karma announced today that it has repurchased the majority of the company once owned by Dean and also closed a “significant” amount of capital through new strategic partners.

While it’s been a tumultuous path for Thrive Oil, it seems the road goes no further — Its current owner, ingredient company Corbion, announced the algae-based product line has been discontinued.

In this week’s Checkout, Walmart and Target report Q2 earnings and plans to enhance delivery options, while DoorDash adds grocery stores to its platform. Also, Propeller Industries gains investment from Newlight Partners.

In June, both leaders and ordinary people who work in the food and beverage industry spoke out against racism as national protests in response to the killing of George Floyd brought to light issues surrounding systemic inequality. Now, brands, distributors, retailers and advertising agencies have begun to take action, or build upon previously established efforts to address this inequality, particularly through programs and initiatives designed to support the advancement of BIPOC entrepreneurs.

This episode is all about the art of revisions – moving from a big conceptual picture of the brand and into the details that can make all the difference at the moment of truth aka getting a consumer to choose us.

BevNET and NOSH have designed a platform exclusively for subscribers so that they can work with their peers and our selected experts. Our first Round Table discussion will be with Stu Strumwasser, managing director of Green Circle Capital, on Aug. 26. Stu will be answering questions about valuation trends in the natural products industry, and the overall changes in fundraising and operational strategy that can help guide brands as the capital cycle changes.

Although federal CBD regulations remain in limbo, some retailers are pushing forward to capitalize on consumer interest in the ingredient. This month CBD retail chain American Shaman opened its first ‘store-within-a-store’ concept inside of Kansas City, Mo.-based grocery store Price Chopper.

Facing major disruptions to its traditional business model, New York-based coffee maker Wandering Bear announced yesterday the launch of a new suite of products designed to bring the formerly office-focused brand into the at-home coffee space.