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Stryve Reports Q2 Earnings, Discusses Supplement Play
On its first quarterly earnings call since going public last month, Stryve Foods reported net sales were up 71.8% to $7.4 million for the quarter and gross profits of $3.6 million in the second quarter, an increase of 148.3%. The company also discussed its ecommerce strategy, its plans to reach Hispanic shoppers and why it decided to enter the nutrition category.
Direct-to-Consumer Food and Beverage Brands Dominate The Inc 5000 List
Alongside healthcare, financial services and software companies, dozens of food and beverage brands were ranked on Inc.’s annual 5000 list of the fastest-growing privately-held companies in the United States. Released today, the 2021 list features an array of companies with a direct-to-consumer focus, highlighting the pandemic’s lasting impact on consumer shopping habits.
Whole Foods Adds Plant-Based Offerings, Yo Mama’s Sees Summer Expansion
Over the past several weeks, plant-based brands have seen distribution gains with Wholly Veggie and Daring Foods joining the shelves of Whole Foods Markets and Impossible launching its new sausage line in retail.
Oatly: Q2 Earnings Hone in on Growth, Capacity Expansion
Oatly announced today Q2 revenue of $146.2 million, up 53.3% year-over-year in its first earnings report as a public company.
The Checkout: Miyoko’s Scores Victory in Labeling Lawsuit; Mizkan Acquires Born Simple
In this week’s Checkout, Miyoko’s is victorious in its California labeling lawsuit; Mizkan America acquires Born Simple; Coconut Secret announces its sale to Nutiva; and CPG veterans launch a free mentorship program for entrepreneurs.
UNFI Moves Winter Show to Virtual Format, Mondelez Cancels Accelerator Showcase
In an email to customers yesterday distributor UNFI announced that it would shift its Winter Natural Show to a virtual-only format. Mondelez’s investment and innovation group SnackFutures also cancelled a planned showcase for the brands taking part in its accelerator program.
Welcome to Public Life: Lessons from the Oatly Short Report
Last month, still hot on the hype of its highly publicized May IPO, plant-based milk maker Oatly sustained its first major setback as a publicly traded company when Spruce Point Capital Management, a research firm focused on short selling, released a 124-page document claiming that the company had misrepresented its success and “will never achieve… Read more »
Plant-Based Milk Players Invest in New Texas Facilities Amid Growing Oatmilk Demand
Citing increasing demand for oatmilk in retail and foodservice, plant-based milk producers Oatly and SunOpta are ramping up production, with both companies announcing plans for new facilities in Texas set to open over the next few years.
Elevator Talk Ep. 40: Undressed Snacks, Sorate, The After Bar, Yishi, Lovely Day Bars
Episode 40 of Elevator Talk features leaders from Undressed Snacks, Sorate, The After Bar, Yishi and Lovely Day Bars. Watch founders and CEOs introduce their brands and provide a recap of recent news and updates.
IRI Identifies Trends and Strategies for Success in Frozen and Plant-Based Meat
In a webinar last week, Sally Lyons Wyatt, EVP, Client Insights at IRI, Christine Boule, Principal, Client Insights at IRI and Alison Bodor, president and CEO of the American Frozen Food Institute, delved into the growing frozen food segment and identified ways brands can navigate the category to win in retail. IRI also dug into how brands can capitalize on growth in the plant-based meat space and what consumers are looking for in meat alternatives going forward in another webinar earlier this week led by Anne-Marie Roerink, president at 210 Analytics and Jonna Parker, Principal IRI Fresh.