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

Beyond Fried Chicken is back, plus other Beyond Meat updates, Nestlé advances plant-based protein, and more in this week’s Checkout.

This week we’re joined by Nick Guillen and Nick Ajluni, founders of TRUFF, a fast-growing brand of upscale, truffle-infused hot sauces. Guillen and Ajluni spoke about how their shared backgrounds in digital media and streetwear fashion inspired the creation of TRUFF, how Instagram factored into the brand’s design and why they are trying to “influence the influencer” on social media.

In an interview at the Winter Fancy Food Show, Miyoko Schinner, founder and CEO of Miyoko’s Creamery, discussed broadening the brand’s reach with new plant-based cheeses, including slices, blocks and shreds, a pizza cheese that will launch in foodservice this year and a new cultured oat milk butter.

Frozen dessert producer The Mochi Company, producer of My/Mo Mochi, was acquired today by an investment fund managed by Lakeview Capital, Inc, a Michigan-based family office. Terms of the deal were not disclosed.

Ruth Elnekave is the Founder & CEO of Joya, a company focused on bringing consumers moments of pure, everyday joy through superfoods and functional foods that are just as decadent as they are nourishing and effective. Joya’s three lines of products include functional elixirs and loose leaf teas that utilize adaptogenic herbs and medicinal mushrooms, as well as handcrafted chocolates that feature simple ingredients.

Hershey’s Q4 earnings call today reviewed the company’s savory snack strategy, the success of its most recent acquisition — low-sugar, high-protein bar company ONE Brands — and what the company has learned from jerky brand KRAVE not reaching expectations.

At last week’s Winter Fancy Food Show in San Francisco, High Road Craft Ice Cream CEO Keith Schroeder discussed his patient approach to growing the brand and his decision to eschew category trends such as plant-based and keto. He also shared how the brand plans to take on larger players this year in an effort to become “the country’s next generation leading ice cream company.”

A presentation at the Winter Fancy Food Show reviewed the category trends, channel breakdowns, consumer shopping behaviors and product positioning claims shaping the specialty food market.

Specialty food distributor The Chefs’ Warehouse announced Thursday its acquisition of specialty wholesaler Sid Wainer & Son, a deal expected to generate approximately $180 million in annual net sales.

At the Winter Fancy Food Show last week, SuperFat founder and CEO David Hauser told NOSH that as the keto market grows and conventional retailers increasingly show interest, SuperFat’s cohesive message and emphasis on taste will keep the brand going strong.

Miyoko Schinner, founder and CEO of fast-growing vegan cheese and butter company Miyoko’s Creamery, spoke about why she describes her business “a mission with a company,” the importance of empowering employees and ensuring they align with the brand’s ethos and why investors “have to love you for who you really are.”

At last week’s Winter Fancy Food Show in San Francisco, brands continued to innovate, offering plant-based and vegan options to classic dairy favorites, from spreads and sauces to chocolate and cheeses. Check out the gallery for the new plant-based products spotted on the show floor, including the latest launches from Miyoko’s and a sweet new release from The Coconut Collaborative.

Two brands in the bean-based snacking segment — Beanitos and The Good Bean — revealed last week that they had struck a deal to go into 2020 as a unified company after The Good Bean acquired Beanitos’ assets in December. Beanitos investors, L Catterton, 2x Consumer Products Growth Partners, and BFY Capital are now each minority shareholders in The Good Bean.

In a webinar this week, research firm Innova Market Insights listed its Top 10 Trends in Sweets and Snacks, and many of those characteristics were also displayed in products at the Winter Fancy Food Show in San Francisco.