Investment

The Hershey Company announced today it has acquired sour candy brand Sour Strips, expanding the snacking and confectionery giant’s growing sweets portfolio. Financial terms of the deal were not disclosed.

Manufacturing is a difficult-to-staff sector, but food companies are broadening the pool and seeing benefits to their own business by giving an opportunity those who may have faced barriers to employment.

Washington, D.C.-based peanut butter brand One Trick Pony (OTP) has secured seed funding from Collaborative Fund. The new funds will be used to support retail growth, new innovations and an upcoming packaging overhaul in early 2025.

While the pace of food and beverage acquisitions has slowed from previous years, recent deals reflect two key themes – portfolio reshaping and increased snack demand – that are expected to continue, according to a new report from CoBank, a national cooperative bank and agricultural export credit agency.

Amidst accelerated growth, refrigerated donut brand Drumroll Snacks is seeking to further expand its distribution footprint in the natural channel with the support of a recent $3 million investment from CPG brand incubator 7 Mile Brands.

Celebrity chef Robert Irvine’s FITCRUNCH has been acquired by 1440 Foods which already operates active nutrition brands MET-Rx, Pure Protein and Body Fortress.

Ready-to-heat Hispanic food brand Del Real Foods is now majority owned by multilatina corporation Corporación Multi Inversiones (CMI).

On CPG Week, the podcast team talks about Keurig Dr Pepper’s acquisition of GHOST Energy, Olipop’s sports sponsorship ambitions and a look at Whole Foods Market’s Trend Forecast.

Gaming-themed sour snacks producer Final Boss Sour announced yesterday it has raised $3 million in a seed round led by CPG investment and brand development firm Science Inc., the initial investor behind canned water powerhouse Liquid Death.

Snack brands Pipcorn and Spudsy have joined together under a newly formed entity, UpSnack Brands, to leverage their combined scale and accelerate a pathway to profitable growth.