Top Feature
Out of Time, VMG Calls Off SPAC
Investment firm VMG is calling off its Special Purpose Acquisition Company (SPAC), VMG Consumer Acquisition Corp, citing market conditions. The announcement follows the liquidation of several other CPG-focused SPACs.
Hain: FY Outlook Falls After Q3 Sales Miss
Hain Celestial has downgraded its full-year 2023 guidance after posting a net sales of $455.2 million Tuesday morning, down about 9% from the same period last year.
Hershey’s Eyes ‘New Snacking Occasions’ With Ocean Spray Product Partnership
Hershey’s expansion of its snacking business continues with today’s announcement of a new line of chocolate-dipped cranberry bites created in partnership with new Ocean Spray.
Back to the Future: Gainful Co-Founder Launches ‘Nostalgia’ Inspired Frozen Dumplings
Gainful co-founder Eric Ji Sun Wu and former Motif FoodWorks and Better Meat Company scientist Adam Yee have teamed up to launch a frozen dumpling company called Sobo Foods, which is available for hand delivery in the San Francisco Bay Area through next week.
Sweegen’s Brazzein Sweetener Receives GRAS Status, Opens Lane For Product Innovation
Last week, ingredient company Sweegen received GRAS status for its new Ultratia line of brazzein sweeteners that claim to be 500 to 2000 times sweeter than regular sugar, marking another step forward in the race to create the next generation of better-for-you sugar alternatives.
News Roundup: The EVERY Co. and Alpha Foods Team Up to Develop ‘Next-Gen’ Alt-Meat; Oatly Hits a Home Run with MiLB
In this week’s roundup: The EVERY Co. and Alpha Foods team up to develop “next-gen” alt-meat; Oatly hits a home run with MiLB; Tennessee announces new regulations for hemp-derived cannabinoids; and Mondelēz announces its 2023 CoLab class.
Notable New Products: Chocolate Bar Flights, Hot Truffle Honey and “Designer” Gochujang
In this week’s notable new products roundup, Immi celebrates AAPI month with its first new flavor launch in two years, DaRosario spices up its line of truffle honeys and Bubbies kicks off summer early with a new mochi variety.
Seeking Retail “Taste Makers,” Better Sour Debuts At Erewhon
Better-for-you gummy candy maker Better Sour will make its retail debut across California Erewhon stores this month; the products will be available exclusively at all nine locations until July before expanding into other retail accounts.
NOSH Podcast: What Will It Take To Raise The Stakes For National Distribution?
On this week’s show the team discusses mayo preferences in dating, an olive oil brand controversy and Whole Foods’ new regional map. Then, Ithaca Hummus chats about how they strategized growing from regional to national distribution.
Blue Apron ‘Actively Pursuing All Options’ for Financing Following $17M Net Loss in Q1
On an earnings call today, Blue Apron executives said the company is “actively pursuing all options” to bring in much-needed capital as it continues to suffer significant quarterly losses.