Corporate
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After $20M Raised and Whole Foods Debut, Stockeld Dreamery Shutters
Over the course of six years in business, Stockeld Dreamery raised over $20 million and recently secured a spot in Whole Foods, but this month founder and CEO Sorosh Tavakoli made the decision to close up shop.
Can Big Food Compete Among Entrepreneurs?
Legacy CPG companies are a goalpost for food industry entrepreneurs. But that dynamic may be shifting as large corporations struggle under their own weight.
NotCo Expands Beyond Plant-Based With Magnum Ice Cream Partnership
Today, The Magnum Ice Cream Company announced a new partnership with AI-driven food innovation company NotCo, marking the latter’s inaugural venture beyond its plant-based roots.
Additional Content
Freshly Ending Direct Delivery As Meal Co Pivots To Retail
Nestlé-owned ready-made meal delivery platform Freshly appears to be shutting down its direct-to-consumer business, according to media reports and a LinkedIn post from the company’s co-founder.
Maple Leaf Restructures Alt-Protein Business, Partners With Better Meat
Under the leadership of Adam Grogan, meat juggernaut Maple Leaf Farms is broadening how it looks at the alt-protein category by partnering with The Better Meat Co. and exploring new food-tech offerings.
Ample Hills Runs into Financial Roadblocks, Shutters Operations
Ice cream maker Ample Hills is temporarily closing in a last-ditch attempt to secure critical financing to continue operations, the company stated in a letter posted to its website on Monday.
Cometeer: Layoffs Hits Across Departments at Flash-Frozen Coffee Brand
Cometeer, the Massachusetts-based maker of flash-frozen coffee pods, laid off a number of employees across departments last week in a move sources described as an attempt to cut costs. The innovation-focused startup, founded in 2015 by CEO Matt Roberts and CTO Douglas Hoon, had grown to over 100 employees this year, following a $35 million… Read more »
Misfits Market, Imperfect Foods Layoff 20% of Company
Weeks after closing its acquisition of online retailer Imperfect Foods, “ugly” food marketplace Misfits Market laid off over 80 employees last week as it moves to streamline operations.
News Roundup: Carrot Cracker Business Closes Down; Campbell’s Soup Sales Surge
In this week’s roundup: Upcycled cracker brand Seconds closes up shop, Campbell’s raises FY guidance as soup sales heat up, Second Nature Brands acquires Brownie Brittle and Vital Proteins secures B Corp status.
Watch: Kroger and Albertsons CEOs Take The Stand In Senate Hearing
Senate committee members attempted to extract Kroger and Albertsons’ “side of the story” during a hearing on the $24.6 billion merger. Here are some highlights from the two and a half hour testimony.
Maine Crisp Co. Strategizes Growth As Buckwheat Bakery Brand
Snack manufacturer Maine Crisp Company is eying new baked goods categories as it seeks to scale with the support of a new production facility, distribution gains, updated packaging and an expanded leadership team.
Kroger/Albertsons: CEO’s Face Merger Opposition In Senate
The CEOs of Kroger and Albertsons Companies faced intense criticism from the Senate Judiciary Antitrust Subcommittee during a hearing yesterday regarding their proposed merger.
Hain Celestial Names Wendy Davidson As New CEO
Hain Celestial president and CEO, Mark Schiller will hand off both roles to Wendy Davidson at the end of the year and transition to a non-executive director on the company’s Board at the beginning of 2023.