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

Hershey’s announced plans to sell off once high-flying jerky brand KRAVE, along with artisan chocolate brands Scharffen Berger and Dagoba, during a quarterly earnings call that reflected a few months of dramatically-shifting consumer habits toward the confection company’s chocolate products.

In response to the ongoing COVID-19 crisis, supplement brand Ancient Nutrition — which is backed by investment from some of the biggest names in the natural foods business — has undergone layoffs and replaced its CEO.

The eighth round of food and beverage brands includes Wedderspoon, Peekaboo Ice Cream, Catalina Crunch, Simply 7 Snacks and more. This week’s special co-host is Darren Rovell of Tastemaker Capital, who will offer an investor’s perspective and provide feedback for each brand.

No matter what side of the negotiating table you’re sitting on, the coronavirus has brought a host of critical new challenges and choices for both entrepreneurs and investors. In this interview with BevNET managing editor Martin Caballero, Jeremy Halpern, partner at Boston-based firm Nutter, offers his insights into the changing capital and lending environment.

It’s with great regret that we are announcing the postponement of our Summer BevNET Live, NOSH Live, and Cannabis Forum events that were scheduled to be held June 8-12 in New York City.

Keto-focused snack brand Fat Snax will have more support as it pushes further afield into brick and mortar retailers this year. The company announced today that it has raised $4.5 million from venture group Boulder Food Group (BFG), along with investment firm BIGR and some individual investors.

Annie Chun and Steve Broad, founders of Annie Chun’s and gimMe Snacks, spoke about their entrepreneurial journey from selling at farmer’s markets to building category leading brands, why operational efficiency is critical to achieve sustainable margins and the importance of “discovering new experiences for the consumer.”

For many fast-moving food and beverage startups, 2020 was set to be a banner year for sales growth. But the Covid-19 outbreak has forced many companies to reevaluate projections. In this video with NOSH editor Carol Ortenberg, Lily’s CEO Jane Miller details how the company is planning for growth, but still operating with a conservative mindset in order to prepare for any potential slowdowns

Having expanded from juice into shots, SoFresco’s new line of spoonable “smoothie cups” is intended to continue extending the brand into new use occasions while retaining focus on its core competency of fresh fruits. The line will be available individually and in 4-packs in three flavors: Mango, Avocado Spinach and Acai. A 2.2 lbs. bag format with tap is also available for food service.

Ashley Thompson, co-founder and CEO of innovative ready-to-eat oat brand MUSH, spoke about why she set out to create a “best for you” product, why she likes having a “polarizing” brand name, how she prepared for her first meeting with Whole Foods and why the company has pivoted from being “product first” to “team first.”

COVID-19 is changing the landscape for innovation as accelerators find digital ways to help new brands grow and trade shows stall for the foreseeable future. Meanwhile, two large manufacturers see COVID-19 cases in plants. Here’s the latest COVID-19 news from around the industry this week.

Whole Foods Market has issued a variety of policy changes for vendors who come in contact with store employees as it works to cut back possible routes of transmission of the COVID-19 virus.

Yesterday, John Raiche, EVP of supplier services at UNFI, discussed in detail how the industry is adapting to the changes brought on by the novel coronavirus in a webinar hosted by the Hirshberg Enterprise Institute. Raiche offered advice for how brands can adapt to the new environment while providing an update on how UNFI is responding to the demands of the crisis.

Senior executive Carla Vernón has left General Mills, where she led the organic brand and the rest of the company’s natural and organic division. Looking forward, Vernón said that she has “exciting new ventures” that she is working on, but for now, they remain confidential.