Investment

In 2002 Phil Anson founded what would become EVOL Foods and quickly turned it into a leading multi-category frozen foods brand. In 2013 Anson sold the brand to Boulder Brands, which in turn was acquired by Pinnacle Foods in 2015. Anson remained with Boulder Brands until this summer. Just a few weeks into his “retirement” from the brand, Anson spoke to Project NOSH about his time with the company and what’s next for his career.

The past year has been busy for contract manufacturer Ideal Snacks and PopCorners producer Medora Snacks. In July 2015, the two brands, were acquired by global private equity firm Permira and consolidated under the moniker Better For You (BFY) Brands. Now the company, under CEO Paul Nardone, is unveiling a new, global, consumer-facing identity. The brand, Our Little Rebellion, will house five year-old PopCorners (a line of popped corn chips) along with two other brands.

Last week natural products distributor United Natural Foods Inc. (UNFI) announced the acquisition of Gourmet Guru, a natural and organic food distributor and merchandiser serving the Northeast. Project NOSH spoke with Gourmet Guru CEO Jeff Lichtenstein about the sale, why it was the right time, and what the future looks like

Plant-based food and beverage private equity firm Powerplant Ventures today announced the closing of a $42 million fund. The fund is led by Mark Rampolla, founder of ZICO Coconut Water, Kevin Boylan and T.K. Pillan, co-founders of the Veggie Grill restaurant chain, and Dan Beldy, former Managing Director of Steamboat Ventures (the venture capital division of Disney).

The deal will nearly double the size of Danone’s North America footprint, increasing it from 12 to 22 percent of the company’s total portfolio and align it with several fast-growing brands focused on healthy and sustainable lifestyles.

This week The Kellogg Company announced the launch of Eighteen94 (1894) Capital, an internal venture capital fund with roughly $100 million to invest in entrepreneurial brands. Managing Director Simon Burton told NOSH that the group is keeping initial investment criteria broad.

Kite Hill, which produces plant-based alternatives to dairy products, closed an $18 million investment today led by General Mills’ venture arm, 301 Inc, and CAVU Ventures, a partnership between Clayton Christopher, Rohan Oza and Brett Thomas. The brand, which is only three years old, produces yogurt, cream cheese, aged cheeses and cheese-filled ravioli, all made with almond milk.

Demonstrating the ongoing interest in next-generation food brands, CPG giant Hormel today announced the acquisition of natural nut butter and snack maker Justin’s for $286 million. Justin Gold, Founder of Justin’s, told Project NOSH that the brand admires Hormel’s success and looks forward to learning from the larger company.

Field Trip Jerky which was founded in 2010 by three friends who pooled together $11,000, announced today that it has closed its second round of funding. The brand last year alone grew 250 percent and moved from being sold in 5,000 retailers to over 30,000.

Yesterday may have been May Day, but rather than celebrating the start of Spring, several CPG groups were celebrating an influx of cash. No sooner had we hit our collective seats this morning than a few million dollars had flowed out of investors’ wallets and into entrepreneurial coffers.