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The Fresh Market Sells Majority Stake To South American Retailer Cencosud
South American retailer Cencosud has acquired a majority stake in natural grocery chain The Fresh Market in a $676 million transaction as it looks to expand its business into the U.S.
Black Rifle: RTDs, Outposts Push Net Revenue +35%
Founded in 2014, the veteran-owned company has attracted attention from within and outside the beverage industry, thanks in large part by both the popularity of its pro-military merchandise and its expanding ready-to-drink product family. In February, Black Rifle went public via SPAC in an IPO valuing the company at around $1.7 billion. The company plans to reorganize as a public benefit corporation to reinforce its mission of serving veterans, law enforcement and first responders, including a commitment to hire 10,000 veterans.
DAH! Looks to Lakshmi to Increase Education Efforts [Updated]
After partnering with author and television host Padma Lakshmi last fall, yogurt and lassi maker DAH! is preparing to put the culinary expert front and center next month as it begins a new marketing push built around consumer education. Founded in 2006 by Indian expat JD Sethi and Ajeet Burns, the Massachusetts-based brand produces a… Read more »
Blue Apron Cooks Up Investments To Build Subscribers At First-Ever Investor Day
Despite missing earnings by $38.4 million, Blue Apron is confident that a significant investment in brand awareness will expand its reach to new customers. During its first-ever Investor Day presentation on Tuesday, the meal kit company laid out its marketing strategy that will tap consumers interested at-home dining options.
Lancaster to Divest from Bantam Bagels Citing ‘No Foreseeable Path to Profitability’
Less than four years after acquiring the brand, Lancaster Colony Corporation plans to divest from the frozen food maker Bantam Bagels later this summer.
CBA: Market Volatility Is CPG’s ‘New Normal’
Turbulent markets, chaotic supply chains and both new and old challenges are expected to continue impacting the CPG industry this year, according to a report released this month from the Consumer Brands Association (CBA).
Amor Perfecto Fights to Reclaim Colombia’s Coffee Identity
For better or worse, the visage of Juan Valdez, a fictional marketing vehicle created by the National Federation of Coffee Growers of Colombia, has become inextricably linked to the worldwide perception of Colombian coffee. The humble coffee farmer, always with his trusted burro Conchita by his side, symbolizes the global appeal and heritage of the South American nation, but perhaps in a way that at best overlooks and at worst trivializes the passion and dedication behind Colombia’s coffee farmers and their unique crop.
Voyage Foods To Take “Future Proof” Food To Market With New Funding
Food tech platform Voyage Foods closed a $36 million funding round last week that will help bring its full slate of innovations – including peanut-free peanut butter, cacao-free chocolate and coffee-free coffee – to consumers by the end of the year.
FDA Addresses Safety of Foreign Food by Issuing Draft Guidance for Third-Party Certification Program
The U.S. Food and Drug Administration (FDA) in late April announced draft guidance for the Accredited Third-Party Certification, a voluntary program within the Food Safety Modernization Act (FSMA). The guidance aims to encourage more organizations to participate in the Accredited Third-Party Certification Program (also referred to as the Third-Party Program or TPP) which would expedite regulatory approval of foreign food and beverage into the U.S.
Tomorrow Farms Raises $8.5M To Be The ‘Commercial Engine’ for Food Tech Companies
Food and beverage company Tomorrow Farms announced today the closing of $8.5 million in funding aimed at supporting its first product launch this summer and attracting ingredient companies with which it can partner to bring its technologies to market.
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