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

Mambo Sauce maker Capital City is celebrating its first round of investment this week after securing a First Lien Term Loan Facility from middle market investment firm Lafayette Square.

BetterBrand rode the rumor roller coaster this week, and it’s only Thursday. The company was said by some media outlets to be in the process of shutting down, but the story that has unraveled is even more complex.

On CPG Week, the podcast team talks about the PepsiCo acquisition of Siete Foods, uncertainty about the future of a low-carbohydrate baking company and some high-profile beverage industry leadership changes.

Manufacturing B2B platform Keychain recently added $2.5 million from The Hershey Company, bringing the technology company’s total investment to $20.5 million in under a year.

Next-generation pasta sauce producer Sauz announced a major expansion that will bring the brand, along with a new SKU, to all 1,825 Target stores nationwide by the end of this year.

Johnny Tran is stepping down as managing director of General Mills’ venture arm 301 INC after more than a decade with the Minneapolis-based company. Kristen Harvey will succeed him in the role.

PepsiCo announced slow food brand sales dragged down its Q3 earnings as “business disruptions” to its international business lowered the company’s organic revenue growth outlook.

Simulate, the producer of alternative protein brand NUGGS, announced it has sold to The Ahimsa Companies via a combination of cash and equity at an undisclosed valuation.

Bioactive protein lactoferrin used in supplements and infant formula is usually derived from cow’s milk but a number of precision fermentation companies are using innovative processes to create a less expensive and more sustainably sourced ingredient.

BetterBrand, the company behind low-carb bagels, buns and rolls with a pre-money valuation of $170 million, might be in the process of shutting down as its website has been recently disabled and customers have taken to social platforms to express complaints over unfulfilled orders and a lack of communication.

With approximately 30,000 new brands introduced in the U.S. food and beverage market every year, raising brand awareness and capturing the attention of large retailers can prove a challenging feat for startups. Meanwhile, retailers are increasingly pressed to find new and innovative items to draw in consumers.

In this week’s new products roundup, S’NOODS transforms a holiday favorite into a snackable chip, Pitaya unveils a new line of smoothie pops, and Lexington Bakes rolls out a seasonal lineup of four new product collaborations.

Lindsay Hancock, the former SVP of sales at KIND, has launched My Better Batch, a line of premium baking mixes crafted to deliver homemade-tasting cookies.

On CPG Week, the podcast team talks about a number of lawsuits across food and beverage including another chapter in the PB&J wars and a couple deceptive labeling complaints for growing brands.