Investment

Last month, collagen powder mix maker Obvi made its first acquisition, purchasing ground coffee manufacturer Coffee Over Cardio. The deal is just the first step, the company said, in its mission to become a CPG portfolio with a deep presence in the Midwest by way of its New Jersey HQ.

Gluten-free snack brand Quinn Foods has ended over a year and a half searching elevating chief commercial officer Al Matulis to CEO who has been with the company since 2019.

The rising costs of retail have pushed The Planting Hope Company to shift its growth strategy outside of the grocery store. Late last month the company announced plans to acquire QSR-cafe chain Argo Tea – marking a turning point in its new growth plan which centers on the managed food service channel.

In a “incredibly difficult,” mycelium-based alt meat brand Meati has restructured its 300 person company, laying off 30 employees and moving another 30 into new roles as it seeks to prioritize profitability.

Mac and Cheese and pasta brand Goodles announced yesterday a $13 million in new capital as it looks to take on its blue box and bunny competitors.

Mycelium-based food startup Meati is rumored to have raised a $50 million Series C extension round. Investors include Bond, Congruent Ventures and Revolution Growth, among others.

Kroger and Albertsons today announced they have entered into a $1.9 billion divestiture agreement with C&S Wholesale Grocers intended to appease antitrust regulators reviewing the companies’ proposed $24.6 million merger.

Seeking to gain U.S. regulatory approval for their proposed $24.6 merger, grocery giants Kroger and Albertsons are in talks to offload 400 stores to C&S Wholesale Grocers for nearly $2 billion, as reported by Reuters.

Asian-inspired pantry staples maker Momofuku Goods has raised $11.5 million in a funding round led by Alliance Consumer Growth to further its national expansion strategy. This is the “restaurant-grade” brand’s second, eight-figure raise this year.

TreeHouse Foods announced today that it will sell its Lakeville, Minn. manufacturing facility and snack bars business to global nut distributor John B. Sanfilippo & Son, Inc. for approximately $63 million as it shifts focus to becoming a private label leader. The deal is expected to close in the next 30 days.