Corporate

Regenerative ingredient platform company Above Food marked its first month trading on the Nasdaq with an update and overview last week highlighting that the overall business has grown at a CAGR of 34% since fiscal 2021.

Meati announced a trio of big moves today, headlined by the closing of a $100 million investment led by Grosvenor Food & AgTech.

Mondelēz posted “solid top-line” results in Q1 2024 with net revenue up 1.4% and organic net growing 4.2%; however the multinational chocolate, candy and snack producer saw volume/mix decline 2.1%.

When Outfox Hospitality abruptly shuttered its doors earlier this week, it left a lot of CPG brands caught in the fray, including many emerging brands and new product concepts. Many of them feel as if the industry has lost a major stepping stone account.

Tolerant Foods, the maker of organic legume-based pasta products, announced Thursday in an Instagram post that it has closed its doors and will begin winding down the brand.

Just two weeks into his tenure as CFO at Meati, Phil Graves is getting a promotion. The mycelium root-based protein company this week elevated Graves, a former Patagonia exec, to CEO, following the departure of president/COO Scott Tassani earlier this month.

As of this morning The Kellogg Company is no more. The global food giant completed its previously announced business split into two new separate entities: Kellanova and The W.K. Kellogg Company.

Blue Apron announced this morning that Wonder Group, the privately held, vertically-integrated “Fast Fine” dining delivery services founded by Marc Lore, will acquire the company for $13 per share or approximately $130 million in equity value.

Wellful, an omnichannel health and wellness company, is rebooting weight management company Jenny Craig as a direct-to-consumer meal platform.

After filing for Chapter 11 bankruptcy in June, Aerofarms announced today it has restructured the organization to be “fully-funded” following the court’s approval of its asset purchase agreement.