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

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.

At last week’s BevNET Live in Santa Monica, California, flavor and extract companies predicted their taste trends of 2018. Here’s what they expect consumers to be craving most in the new year.

The capital will be used to grow the company’s team beyond its current 10 employees, hiring food scientists and chefs to support a robust innovation pipeline. Although some efforts will go towards developing new flavors for its current pint line, Nicholson said an even bigger focus is to bring the brand into categories beyond pints and, potentially, beyond the freezer aisle.

Yesterday, plant-protein powerhouse Beyond Meat announced the close of a $55 million round. Leading the round was Cleveland Avenue, LLC, the venture capital firm founded by Don Thompson, former CEO of McDonald’s Corporation.

How organic plant-based food and beverage company Forager Project aligns innovation with current trends while staying true to its core mission; living at “the edge of success and extinction,” with the founder of Ibex Yogurt; the Bitsy way of making brain food.

After the NOSH Live conference last Thursday, a group of budding food entrepreneurs reconvened on Friday for a set of more intimate informational sessions on how to further build their businesses. A key session of the day was a deeper look at team building and best practices for hiring during periods of rapid growth.