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Two of Canada’s major cannabis producers are coming together after Tilray Brands agreed to take on $211 million of debt from HEXO, a resolution that will allow the latter brand to shake off its “crippling overhang” by providing Tilray with “significant equity ownership position,” according to a press release.

Six months after being sold to ingredient company Milk Specialties Global (MSG), Minnesota-based protein snack maker Kay’s Naturals has discontinued its branded product lines as its new owner looks to focus on expanding its extruded protein production capabilities.

In this edition of Category Closeup, BevNET reporter Brad Avery and a panel of CPG leaders take a look at one of the fastest growing (and most misunderstood) trends currently emerging within the food and beverage space: web3. This disruptive, decentralized technology platform – which includes NFTs, cryptocurrencies, blockchain and Metaverse – has emerged as… Read more »

Legal cannabis sales worldwide are projected to rise 22% this year to over $35 billion, up from $29 billion in 2021, according to a report by Colorado-based cannabis market data supplier BDSA released today. The rapid rise in sales – covering all categories including flower, vapes, tinctures, edibles and beverages – is expected to continue… Read more »

After changing people’s perceptions of tea and kids juice drinks with Honest Tea and burgers with Beyond Meat, celebrated entrepreneur Seth Goldman is now taking on kids snacks, announcing today that his latest company, Eat the Change, is launching Cosmic Carrot Chews, a line of plant-based snacks aimed at younger consumers.

Belgian Boys announced today that they closed a round of funding led by Equilibra, the family office of KIND founder Daniel Lubetzky, which is aimed at helping the seven-year old food brand to expand its distribution, with a particular focus on fresh breakfast items.

Acknowledging that “they were the wrong products,” Miyoko’s CEO Miyoko Schinner announced this week that the artisanal plant-based dairy brand has halted production of its cheddar and pepper jack slices, shreds and blocks, explaining that the line’s insubstantial nutritional value compromised the brand’s values and mission to create real nutrient-dense, vegan cheese.

Frozen food and snack brand Sweet Nothings is changing up its branding in order to better clarify its value proposition as it plans for distribution expansion. In tandem with the new look, the company will launch a kids line of squeezable smoothies.

Since making its retail debut last March, climate-friendly snack brand Moonshot has increased its footprint to over 1,000 doors following a nationwide expansion with Sprouts Farmers Market, announced last week. In addition to expanding distribution, the brand is looking to accelerate the growth of its platform throughout the year.

This week’s new food launches focused on function and saw brands adding benefits while maintaining a focus on flavor. Here’s the latest allergy-friendly, plant-based, and adaptogenic products to launch this week including new flavors from Lil Bucks and Parktake and functional innovation from ZEGO and Clevr Blends.