Investment

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.

Mondelez International’s SnackFutures Ventures announced this week it has taken a minority stake in air-fried, low-sugar donut brand Urban Legend. Financial terms of the investment were not disclosed.

Once Again announced today it has acquired California-based, organic almond manufacturer Big Tree Organic Farms as it seeks to increase efficiencies and reduce its environmental impact for its West Coast industrial customers.

Protein bar maker Mezcla is unveiling new branding as it enters its next phase of growth following a recent funding round that brings its total backing to more than $8 million. Additionally, the plant-based bars, which feature a puff-crispy texture, are rolling out to more retail shelves by year-end.

PepsiCo, Inc. announced this morning it has entered into a definitive agreement to acquire Siete Foods for $1.2 billion. The transaction is expected to close in the first half of 2025, pending regulatory approval and customary closing conditions.

Big Picture Foods announced today it has been acquired by the Atalanta Corp. for an undisclosed sum.

Earlier last week, The J.M. Smucker Company filed a lawsuit against crustless sandwich producer Chubby Snacks, accusing the startup of false advertising, trademark violations and disparagement in “years of advertising designed to tarnish the name and reputation” of Smucker’s competing Uncrustables brand.

Danone SA is making a move to acquire leading kefir manufacturer Lifeway Foods, offering $283 million, or $25 per share, for the publicly traded company, according to a Schedule 13D form filed yesterday with the U.S. Securities and Exchange Commission.

As he prepares to hand over control of his protein snacks brand to a new licensee, IWON Organics founder and CEO Mark Samuel is taking on a new full time role at food and beverage growth equity firm Siddhi Capital. Samuel announced the move to Siddhi on LinkedIn this week, where he will work to support the growth of the firm’s portfolio brands.

Daily Crunch has scooped up $4 million in a Series A funding round led by Launch Tennessee with participation from various strategic investors.