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

While it’s fairly common for startup food brands to face challenges in their first few years, there aren’t too many that are thought of as nice-to-haves. Still, Joel Warady believes that things could be a lot worse as he moves into the president’s role at keto-friendly snack brand Catalina Crunch.

We’re almost to the finish line! In this episode, not only will you see the end design result, but you’ll also get to hear directly from Melissa. She’ll go into detail about the most critical learnings and how she felt about the process.

Last month Melissa Facchina, founder and CEO of outsourced operations firm Siddhi Ops, and the Finn Family, the backers of Martstar investments, announced the close of their first fund under the newly formed firm Siddhi Capital. Facchina will also partner with the father and son duo of Brian Finn (the former CEO of Credit Suisse USA) and Steven Finn on a special purpose acquisition company (SPAC.

It’s the summer of special purpose acquisition companies (SPACs). Also known as blank check companies, SPACs have increasingly become appealing for the ability to quickly create category leaders and getting capital infusions into brands that need them. The past week has seen two such investment vehicles from industry experts.

In its fourth quarter earnings presentation yesterday, Campbell’s Soup Company reported that its net sales increased 18% to $2.1 billion over the quarter as consumers continued to partake in “quick scratch cooking” while also stocking up on snacks.

In this week’s Checkout, Climax Foods raises a $7.5 million seed round to study plant-based alternatives, Giant Eagle debuts cashierless tech and Target adds 600 ‘premium’ products to Good and Gather.

In this complicated back-to-school environment, snack brands that relied on their allergy-friendly ‘school safe’ appeal are striving to now find a place in consumers’ homes, focusing less on the lunchbox and instead trying to capitalize on the uptick in cooking at home.

The second part of our monthly new products gallery takes a look at the new snacks, sides and meals that hit shelves in August. Brands turned to comfort foods and flavors last month, with cheesy snack and meal offerings from 8Myles, Feel Good Foods and Good Health and two new varieties of refried beans from A Dozen Cousins. Check out the gallery for more of the month’s notable releases, including the latest from RXBAR and LesserEvil.

Plant-based food and beverage maker Califia Farms announced yesterday that it has named CPG industry veteran Dave Ritterbush as CEO. Ritterbush said the brand will continue to look beyond beverage as the platform expands.

The first half of the August New Product Gallery highlights new breakfast and baking products along with sweet treats that hit shelves this month. Check out the gallery to learn more about this month’s new products, including Smart Sweets’ new sour offering, a plant butter line from Upfield and breakfast offerings from Sambazon and Vital Farms.

While keto and low-sugar products may dominate the food industry discussion right now, Chef Christina Tosi wants to answer the question of ‘what happened to dessert?’ The award-winning chef and bakery owner announced today the launch of a new line of Truffle Crumb Cakes in Whole Foods Markets nationwide.

PeaTos yesterday announced the close of a $7 million funding round, which included a $3 million convertible note from 2019. The round was led by financial services firm Jackson Springs Management Partners and venture capital firm Connetic Ventures, with participation from returning investors Apu Mody and Carlos Barroso, along with an undisclosed private hedge fund and former NBA basketball player Tracy McGrady.

As it prepares to enter its next phase of growth, snack brand Spudsy announced last month the close of a $2 million round of funding. It’s necessary capital, founder and CEO Ashley Boeckle said, to get the brand to profitability and support increased distribution.

Stacy Madison, founder of Stacy’s Pita Chips, shared essential lessons learned from building her company, including those that she’s applying to her latest venture, BeBold, a refrigerated energy bar brand. She explained why having a “nothing to lose” attitude was key during her early days as an entrepreneur and the altruistic reason that she decided to get back into the packaged food industry.