M&A

Climate neutral cracker brand Moonshot Snacks has been acquired by Patagonia Provisions, the food and beverage division of outdoor-centric brand Patagonia. The news marks Patagonia’s first acquisition in over twenty years.

When plant-based nutrition brand Soylent began in 2013, it adopted a tech-influenced approach, dubbing its products Soylent 1.1, Soylent 2.0, and so on. Now, after its acquisition by CPG portfolio company Starco Brands earlier this week, the food and beverage maker is in stable release.

Publicly traded consumer products company Starco Brands, Inc. has acquired plant-based food and beverage maker Soylent, completing the brand’s evolution from red hot food-tech startup to cross-category CPG platform.

Last week Turtle Island Foods, which makes Tofurky and Moocho, was acquired by a subsidiary of multibillion dollar company Morinaga Milk Industry Co. With a purchase price of over $50M, the deal came as CEO Jaime Athos said the company was “facing a lot of challenges.”

Morinaga Nutritional Foods, a subsidiary of Morinaga Milk Industry Co, has acquired Turtle Island Foods, the producer of Tofurky and alt-dairy line Moocho, putting the Japanese-owned company in control of one of the leading plant-based meat brands in the category.

Ultimately the holding company plans to have four entities in the company’s portfolio, two of which are already accounted for: egg white-based chip company Quevos and supplement and energy drink brand ProSupps.

Powered by Real Food From the Ground Up continues to expand its salty snack business with the acquisition of tortilla chip brand Food Should Taste Good from General Mills.

Kerry Group announced last week its intention to sell its sweet ingredients portfolio in order to further focus on functional ingredients and innovation in biotechnology for food.

Less than two years after the baking mix brand was sold to Sovos Brands, Birch Benders announced today it has been acquired by baking platform Hometown Food Company.

JPG Resources has acquired RodeoCPG’s Brooklyn-based R&D team allowing JPG to better serve brands in the Big Apple, while Rodeo pivots toward becoming a targeted, tech-forward sales management platform.