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

Kite Hill, which produces plant-based alternatives to dairy products, closed an $18 million investment today led by General Mills’ venture arm, 301 Inc, and CAVU Ventures, a partnership between Clayton Christopher, Rohan Oza and Brett Thomas. The brand, which is only three years old, produces yogurt, cream cheese, aged cheeses and cheese-filled ravioli, all made with almond milk.

First Lady Michelle Obama – who has played an active role in efforts to update the Nutrition Facts panel since 2014 – said the label changes “make a real difference in providing families across the country information they need to make healthy choices.”

Demonstrating the ongoing interest in next-generation food brands, CPG giant Hormel today announced the acquisition of natural nut butter and snack maker Justin’s for $286 million. Justin Gold, Founder of Justin’s, told Project NOSH that the brand admires Hormel’s success and looks forward to learning from the larger company.

R.e.d.d, a Portland, Maine-based company, announced today it had added two flavors to its superfood energy bar line and raised $1 million dollars from investors including Dan Nordstrom, CEO of Outdoor Enthusiast, and Greg Hanson, Founder and Managing Partner. Nordstrom and Hanson will both hold seats on R.e.d.d.’s Board of Directors and the capital will go towards marketing, production and distribution.

The food and beverage industry hasn’t been one to shy away from crowdfunding models to date, either via donations on sites like Kickstarter or investment platforms like CircleUp.

The Project NOSH conference in Brooklyn has added some significant food for thought with the addition of an inspiring conversation with Krave Jerky and Sonoma Brands founder Jon Sebastiani and a special presentation from retailing information provider SPINS on the snack category.

Any food or beverage company will tell you that the day a Food and Drug Agency (FDA) warning letter shows up in the mail is, in the politest terms, nerve-wracking. But it seems you can sometimes fight City Hall. Despite what some believe is pressure from Big Food to keep with the status quo, it seems the FDA has realized it needs to start pulling some of its punches in the case of certain claims or claims used for specific functions.

Shane Emmett, CEO of Health Warrior, looks at the current election cycle and the one topic that he thinks has been ignored: the State of the American Plate. From the point of view of an entrepreneur, Emmet provides an overview of the situation and its five main issues as well as a list of resources to learn more.

Field Trip Jerky which was founded in 2010 by three friends who pooled together $11,000, announced today that it has closed its second round of funding. The brand last year alone grew 250 percent and moved from being sold in 5,000 retailers to over 30,000.

During an external quarterly earnings call and an internal memo posted to team members, Whole Foods has opened up with some more information about its soon-to-debut 365 by Whole Foods Market stores as well as new tactics to reduce inefficiencies at its flagship stores.

RangeMe, an online platform to streamline the communication and discovery process between retail buyers and CPG brands, has announced the closing of a $4 million seed round.

Natural foods giant Hain Celestial announced a major reorganization today as well as the creation of a venture capital arm.

Yesterday may have been May Day, but rather than celebrating the start of Spring, several CPG groups were celebrating an influx of cash. No sooner had we hit our collective seats this morning than a few million dollars had flowed out of investors’ wallets and into entrepreneurial coffers.

In this interview with Project NOSH, Jeff Lichtenstein the CEO and founder of Gourmet Guru provides his candid thoughts about what he’s witnessed in the industry, what he’s proud of as he celebrates the company’s 20th anniversary, and where he sees the industry moving.