Finances and Deals: Page 22

  • Table with brightly colored jars, hands holding chopsticks and bowls of food
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    Courtesy of Fly By Jing
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    Chinese food brand Fly By Jing raises $12M

    The brand, which launched in 2018, also announced the appointment of its first chief financial, operations and commercial officers.

    By Dani James • March 9, 2023
  • Hostess products
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    Courtesy of Hostess
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    Hostess Brands CEO says snack maker poised to weather economic volatility

    The Twinkies and Donettes producer has thrived as consumers show a penchant for indulgent treats, with many people looking for affordable items. 

    By • March 8, 2023
  • Mergers and acquisitions Explore the Trendline➔
    Trendline

    Mergers and acquisitions

    Declining sales and slowing consumption have more companies divesting brands, opening the door for smaller players and private equity firms to expand their portfolios.  

    By Food Dive staff
  • Two cardboard containers with plant-based chicken on a waffle with scoops of plant-based gelato drizzled with honey on top, with branded Tindle toothpicks in front of the Tindle and Mwah logos.
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    Courtesy of Next Gen Foods
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    Next Gen Foods buys plant-based gelato maker Mwah

    The buzzy company that created chicken analog Tindle led the seed round for the U.K. frozen treat maker last year, and will be showcasing its products at Natural Products Expo West this week.

    By • March 6, 2023
  • Conagra
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    Christopher Doering/Food Dive
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    Better together: Conagra Brands CEO downplays possibility of splitting the food giant

    In an interview, Sean Connolly said the CPG company benefits from stronger cash flow, greater negotiating power with retailers and deeper margins with its snacking, frozen and plant-based meat brands under one roof.

    By • March 6, 2023
  • ingredion, pea protein
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    Christopher Doering/Food Dive
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    How Ingredion benefits from diversification and on-demand ingredients in volatile times

    CEO Jim Zallie said the company, which works with more than 18,000 customers, inherently minimizes risk by providing hundreds of ingredients in both staple and trendy categories.  

    By • March 2, 2023
  • Clif Thins owned by Clif, which Mondelez International purchased in 2022
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    Courtesy of Clif Bar
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    Food CPG makers are hungry for M&A, but taking ‘disciplined’ approach to acquisitions

    Companies at the recent CAGNY conference said even though they are in financially healthy positions, any deals they make will likely be smaller bolt-on purchases.

    By • March 1, 2023
  • A double-decker plant-based burger with pickles, red onions, mayonnaise, and red round slices on a poppy and sesame seed bun, with words explaining the ingredients.
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    Permission granted by Cargill
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    Cargill enters alternative fats partnership with Cubiq Foods

    The co-development and go-to-market agreement was part of the agribusiness giant’s investment in the Spanish plant-based and cultivated ingredients startup last year.

    By • March 1, 2023
  • Mondelez International, cakes
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    Permission granted by Mondelez International
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    Mondelēz aims to bring snacking supremacy to $71B cake and pastry category

    Even after tripling sales in the segment during the last three years, the chocolate and biscuit giant remains a distant third with a 3.2% market share.

    By • Feb. 27, 2023
  • A small cast iron skillet with Beyond Steak bites inside sits on a gas-powered hot plate with the product package and a dish of tortilla chips with dips is in the background.
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    Courtesy of Beyond Meat
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    Beyond Meat hits earnings expectations, but continues to struggle with sales

    CEO Ethan Brown said operational changes are starting to work, and reaffirmed the expectation to be cash flow positive by the second half of 2023.

    By • Feb. 24, 2023
  • IFF logo
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    Courtesy of International Flavors & Fragrances
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    IFF sells its Flavor Specialty Ingredients business for $220M

    British private equity firm Exponent is buying the business, which the company says generated more than $100 million in revenue during the last 12 months.

    By • Feb. 23, 2023
  • Packaging for Kellogg's MorningStar Farms Incogmeato brand.
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    Courtesy of Kellogg
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    Plant-based meat ‘ripe for consolidation,’ Kellogg exec says

    Chris Hood, who heads the CPG’s North American business, said in an interview while “the sector is challenged now,” the company remains upbeat about the category and its MorningStar Farms brand.

    By • Feb. 23, 2023
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    Mark Kolbe via Getty Images
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    Tyson to acquire Williams Sausage Company

    The meat giant’s purchase of the sausage and bacon processor, for an undisclosed sum, comes after a period of M&A inactivity in the meat sector. 

    By • Feb. 22, 2023
  • Two pouches of Soylent protein powder and three four different bottles of Soylent beverages sit on a table with a measuring cup and a spoon. A hand touches one of the bottles.
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    Courtesy of Soylent
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    Soylent acquired by Starco Brands

    The price paid for the plant-based nutritional beverage and snack brand was not disclosed by either company.

    By • Feb. 22, 2023
  • A scientist in a lab coat tends to plants in a greenhouse.
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    Courtesy of Elo Life Systems
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    Elo Life Systems raises $24.5M for molecular farmed monk fruit sweeteners

    The food tech company, spun out of Precision BioSciences in 2021, also is working with Dole on a disease-resistant banana.

    By • Feb. 16, 2023
  • IFF logo
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    Courtesy of International Flavors & Fragrances
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    Activist investor Third Point takes $240M stake in IFF

    While many details surrounding the deal remain unknown, Daniel Loeb’s firm has a history of getting involved with food companies and agitating for change.

    By • Feb. 16, 2023
  • Bodyarmor, coca-cola, sports drink
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    Retrieved from BodyArmor.
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    Coca-Cola struggles to integrate $5.6B purchase of BodyArmor

    The purchase of the sports drink, the largest in the company’s history, led to more “disruption in the short-term” than expected, CEO James Quincey said, but he remains optimistic about the brand’s future.

    By • Feb. 15, 2023
  • Inside a grocery store, a grocery shopper browses the meat selection where a "low price" sign hangs.
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    Brandon Bell via Getty Images
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    Food inflation to remain volatile despite recent improvements, trade group says

    While prices in January increased 11.3% compared to the same month a year earlier, the annual rate was the lowest since April, according to the government — a sign the surge in grocery costs could be moderating.

    By • Feb. 14, 2023
  • "Breaking Bad" star Bryan Cranston poses with a bag of PopCorners for the brand's Super Bowl LVII ad teaser.
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    Courtesy of Frito-Lay
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    Opinion

    Why brands need to pay attention to this year’s ‘Snack Bowl’

    Brands are starting to place a heavier focus off the big screen and onto social media platforms, writes Joe Charnitski, director of customer experience management best practices at Sprinklr.

    By Joe Charnitski • Feb. 14, 2023
  • TreeHouse Foods logo on a white background
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    Courtesy of TreeHouse Foods
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    TreeHouse Foods looking to M&A to improve manufacturing capacity

    While demand has increased for private label items, the company has not been able to fully capitalize on it because of pervasive supply chain issues.

    By • Feb. 14, 2023
  • Tofurky's Plant-Based Roast
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    Courtesy of Tofurky
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    Tofurky bought by Morinaga Nutritional Foods for undisclosed amount

    The plant-based meat pioneer has worked with the division of the Japanese dairy giant for 17 years, and the acquisition will help strengthen its supply chain and bolster future expansions.

    By • Feb. 10, 2023
  • Packaging for Kellogg's MorningStar Farms Incogmeato brand.
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    Courtesy of Kellogg
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    Kellogg will not split off its plant-based brands

    The CPG giant — which saw sales increase 12% in its last quarter — is holding on to MorningStar Farms and only breaking off its cereal brands, CEO Steve Cahillane said on the earnings call.

    By • Feb. 10, 2023
  • Post, pet food
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    Courtesy of Post Holdings
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    Post enters pet food category through $1.2B deal with J.M. Smucker

    The deal, which includes Rachael Ray Nutrish and Kibbles ‘n Bits, gives the Pebbles cereal and Peter Pan peanut butter producer a prominent presence in a category dominated by Mars, Nestlé and General Mills.

    By • Feb. 9, 2023
  • A white rectangular tray with several skewers with chicken nuggets sits on a wooden surface with a Rebellyous Foods package next to it and a green cloth behind it.
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    Courtesy of Rebellyous Foods
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    Rebellyous Foods raises $9.5M to build its plant-based chicken tech

    The Seattle company is working toward deploying a custom manufacturing facility, which founder and CEO Christie Lagally said will allow the brand to undercut meat prices.

    By • Feb. 6, 2023
  • A bottle of D'Usse cognac sits on an old wooden bar next to a gold-rimmed old fashioned glass and cocktail glass, both which have the gold D'Usse cross. A small white box is next to the bottle.
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    Jerritt Clark via Getty Images
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    Bacardi buys majority of Jay-Z’s cognac brand, ending legal battle

    The entertainer and businessman created D’Ussé with the alcohol maker, but filed a series of lawsuits challenging the company’s valuation of his share.

    By • Feb. 6, 2023
  • A petri dish of red liquid with three round black, grey and white fungal colonies floating in it sits on a steel surface.
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    Courtesy of Michroma
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    Michroma raises $6.4M to speed commercialization of natural red food color

    The company, which ferments bioengineered fungi to produce a pigment, received funds from General Mills-backed Supply Change Capital, Dr. Oetker and CJ CheilJedang.

    By • Feb. 2, 2023