M&A

Urban Farmer, a manufacturer of branded and private label specialty dough products, announced today its acquisition of gluten-free frozen foods brand Caulipower, best known for its cauliflower crust pizzas.

Nut butter and confection company Justin’s will soon return to private ownership, a move that incoming CEO Peter Burns – who previously served as CEO from 2014 to 2016 – believes will “unlock the true potential of the brand.”

This week on the podcast, Nosh managing editor Monica Watrous and senior reporter Brad Avery talk about Recess’ new funding round and leadership addition, a premium bourbon brand on the block, and new cash for Robert Downey Jr.’s coffee brand. The podcasters also discuss the closure of an alt-cheese maker and the surge in demand for gummy formats in supplements and in candy.

After nearly a decade under the ownership of massive protein company Hormel Foods Corp., Justin’s – the nut butter and confection company started by entrepreneur Justin Gold in 2004 – is coming back under private ownership, with Gold and former CEO Peter Burns returning to the company.

B&G Foods announced today it has agreed to sell the Green Giant and Le Sieur frozen and shelf-stable vegetable product lines in Canada to Nortera Foods.

Specialty ingredient purveyor Woodland Gourmet announced today it has acquired International Spices, which creates “high-impact blends” for use in snacks, proteins and prepared foods.

PNC Brands Group, the parent company of PNC Specialty Foods and Pivot North Consulting Group, has taken a majority stake in Ice Cream Factory, expanding its end-to-end commercialization capabilities.

As early-stage deal flow moderates and mid-sized rounds gain share, the quarter signals a market that is stabilizing at a more sustainable pace – one defined by disciplined capital allocation, selective growth, and investor confidence in category leaders.

DDC Enterprise Limited, which does business as DayDayCook, has raised a whopping $124 million in equity financing – but it doesn’t seem likely that much, if any, of it will be put into the Hong Kong-based company’s recent CPG acquisitions.

On this episode of CPG Week, Nosh managing editor Monica Watrous and senior reporter Brad Avery unpack Once Upon A Farm’s IPO announcement, a grocery retailer’s adoption of a food health scoring system, breakfast maker Seven Sundays’ step toward vertical integration, and Beckett Industries’ new food and beverage focused fund.