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

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.

Kirsty Lewis officially has two tweens on her hands — both her son and the snack company named after him, Quinn turn ten this week. With one decade in business under its belt, the company announced today the close of $3 million in funding, in part to help further launch its newest releases, grain-free and gluten-free pretzels.

The state of strategic venture units during the ongoing Covid-19 pandemic will be explored during Office Hours on Tuesday, Aug. 11 at 3 p.m. ET when our guests will be the John Haugen, Heidi Dillon Otto, and Daniel Grubbs, the leaders, respectively, of 301 INC (General Mills), Distill Ventures North America and PepsiCo Ventures Group. Office Hours viewers are encouraged to submit questions before and during the show, and will be invited to join the discussion live.

This week in the checkout, plant-based brand Lightlife pens an open letter to Beyond Meat and Impossible Foods urging them to use cleaner ingredients, Meanwhile, KIND commits to using only “bee-friendly almonds” and plant-based cheese and butter brand Miyoko’s comes out ahead in its labeling lawsuit against the state of California.

Breezy Griffith, co-founder and CEO of fast-growing coated nut brand Skinny Dipped, spoke about why persistence was critical in landing the brand’s first retail accounts, how guts and guile got the products into the office pantries of Google and Microsoft.

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.