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

You don’t have to be a rocket scientist to break into the food and beverage business… but it doesn’t hurt. Just ask Vital Proteins founder Kurt Seidensticker; something’s BRUing in the trendy world of bone broth; is basil seed an ingredient to watch in 2018?

Yesterday, Canadian natural food company GreenSpace Brands announced it had acquired Galaxy Nutritional Foods, the producer of Go Veggie plant-based dairy products, from investment firm Mill Road Capital. The deal allows GreenSpace to bring their other Canadian brands to U.S. stores and enter the plant-based dairy category.

The food world was rocked Monday by two deals that carried a combined $6.5 billion in value, both designed to allow companies with declining core business areas rearrange their portfolios around growing premium snack lines.

Today, Impossible launched a new sales channel with DOT Foods, America’s largest food redistributor, to gets its burgers in more restaurants nationally. On Monday, Beyond Meat announced its first venture beyond burgers with Beyond Sausage.

Friday’s announcement that the U.S. Department of Agriculture would decouple animal welfare standards from federal regulations around organic certification has caused outcry and debate among natural and organic food industry leaders. Now, the Organic Trade Association and its allies believe the rule’s withdrawal will impact food sourcing, pricing and certification, both for packaged and fresh food alike.

Today, two young companies operating in evolving routes to market, Daily Harvest and AxleHire, both found fuel to burn via multi-million dollar investment rounds. The raises are indicative of rising interest in direct-to-consumer sales and subscription models, both for millennial consumers and investors alike.

Today Campbell Soup Company announced the acquisition of snack food company Snyder’s-Lance for $50 per share in an all-cash transaction. For Campbell, acquiring Snyder’s represents a significant shift of their business from soups and meals to snacking — a move that echoes the eating habits of consumers.

The global confectionery leader announced today that it has agreed to acquire Skinny Pop maker Amplify Snack Brands for more than $920 million. The deal, which is expected to close in Q1, will be Hershey’s largest acquisition to date.

In Part III, Stu Strumwasser, founder and managing director of Green Circle Capital, addresses that pink elephant in the virtual room: convertible notes.

Distributors called her a “relentless bitch,” but DRY Soda founder Sharelle Klaus paid little mind to their insecurities. She was too busy building a business; My/Mo CMO talks mochi momentum; Keto FTW: Bear Squeeze founders chat about Showdown triumph.

Last week, Beyond Meat announced the close of a $55 million investment in its plant-based meat substitute platform. Beyond Meat CEO Ethan Brown said the round was needed in order to set the company up for success in 2018, with the investment focused primarily on operations and R&D.

This week, My/Mo announced the launch of its newest innovation, pints with mochi “bite” inclusions, an ice cream-forward reversal of the brand’s original mochi line. The company will also launch four non-dairy mochi flavors using cashew milk in Q1.

After over a decade and a half on U.S. store shelves, fair trade focused snack and chocolate brand Alter Eco has been acquired by strategic equity firm NextWorld Evergreen (NWE).

The big box retailer announced today that it has agreed to acquire Shipt, Inc., a leading online same-day delivery platform, for $550 million in cash. The acquisition strengthens Target’s position as a major competitor in the online grocery space.