Investment

In good times, a rising tide lifts all boats – but right now, the hunt is on for seaworthy vessels, according to investors. Otherwise, judging by the last quarter of the year, it’s clear that the financial doldrums are going to stay for a while for brands.

In the first episode of CPG Week, Nosh Managing Editor Monica Watrous and reporters Brad Avery and Lukas Southard sit down to discuss the various M&A deals seen so far in the first month of the year.

Boston-based Jaju Pierogi has slowly built a “grassroots” brand and in the process learned the ups-and-downs of getting bigger and carving out a niche in the frozen dumpling category.

Alter Eco has shifted hands once again. Today, Texas-based investment firm Trek One Capital announced it has acquired the Fair Trade, regenerative confections and pantry staples producer. The deal closed on December 22, and terms were not disclosed.

When Norma Chu founded DayDayCook in 2012, the Hong Kong-based company was simply an online recipe sharing platform. Twelve years later, with Chu still at the helm as CEO, it’s become a publicly traded global CPG portfolio business specializing in Asian food brands.

M&A activity continues to accelerate. This morning we are bringing you updates on the changing snack landscape as Our Home expands its platform with tried-and-true Utz Brand muscle. Additionally we run down news that distressed salad dressing maker Tessemae’s has found a new home and share details on a growing pasta platform.

California-based FreshRealm announced this morning it had acquired the U.S. operational assets and supply chain infrastructure of global meal kit provider Marley Spoon for $24 million.

Aiming to put a troubled period behind it, meal kit maker Blue Apron is embracing a leaner business model in 2024 that prioritizes flexibility and accelerates innovation targeted at consumers’ growing interest in convenient, clean label offerings.

For those of you looking for a variety of levels of investment capital, the frustration was real in 2023. Deals were down. That’s the read from the FABID 2023 Annual Report, which hit our screens yesterday.

Financial advisory firm Solomon Partners reported its expectations for M&A activity in food and beverage this year with a slow escalation in acquisitions as inflation recedes and the Fed lowers interest rates.