Finances and Deals: Page 24

  • Glass laboratory containers of pulses including yellow peas on a lab counter.
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    Courtesy of Equinom
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    Equinom raises $35M for new non-GMO plant protein ingredients

    The Israel-based company is nearly doubling its lifetime funding with this round and will use the money to get its precision-bred pea, soy and sesame ingredients to the market faster.

    By • Dec. 12, 2022
  • IFF logo
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    Courtesy of International Flavors & Fragrances
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    IFF plans job cuts as part of company restructuring

    The ingredients giant plans to save $100 million annually through headcount reduction, which is a part of a plan to become more streamlined, efficient and customer-centric.

    By • Dec. 8, 2022
  • 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
  • c4 energy drink
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    Courtesy of C4
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    Keurig Dr Pepper spends $863M for stake in C4 Energy maker

    The beverage giant will own 30% of Nutrabolt with opportunities to increase its ownership. The companies also entered into a long-term sales and distribution agreement.

    By • Dec. 8, 2022
  • Packages of products from Wells Enterprises brands Halo Top, Blue Ribbon, Blue Bunny and Bomb Pop on a red background.
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    Courtesy of Wells Enterprises
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    Ferrero to buy ice cream maker Wells Enterprises

    The price and terms of the deal, which will give the Italy-based confectioner a large foothold in the frozen treats business, were not disclosed.

    By • Dec. 7, 2022
  • BeeHero beekeeper
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    Courtesy of Cibus Fund
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    Precision pollination startup BeeHero nets $42M with backing from General Mills

    The startup said its technology allows beekeepers to better monitor their hives, which could help improve crop yields and reduce food insecurity.

    By • Dec. 7, 2022
  • Produce section of a grocery store
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    Catherine Douglas Moran/Food Dive
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    A taste of Food Dive’s best stories

    From the struggles of plant-based meat to Kellogg’s proposed split, Food Dive writes about the news that moves the CPG industry.

    By Food Dive Staff • Dec. 2, 2022
  • Idris Elba sits next to Huel CEO James McMaster in a recording studio.
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    Courtesy of Huel
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    Huel closes $24M investment round

    Actor Idris Elba is among the backers for the British meal replacement company, which is now valued at $560 million.

    By • Dec. 1, 2022
  • A group of Protera Biosciences employees in black shirts stand in front of a building.
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    Courtesy of Protera Biosciences
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    ICL Food Specialties and Protera Biosciences partner on AI-discovered plant-based ingredients

    The collaboration, with the goal of quickly scaling up clean-label options, follows a $1 million investment from the global minerals giant last year.

    By • Dec. 1, 2022
  • Products made with Perfect Day's animal-free dairy proteins.
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    Courtesy of Perfect Day
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    Perfect Day expands its reach with gelatin company purchase

    With the acquisition of India’s Sterling Biotech Limited, the animal-free dairy company doubles its manufacturing capacity and has a path to widen its precision fermentation portfolio.

    By • Nov. 30, 2022
  • Dippin' Dots
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    Permission granted by Dippin' Dots
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    Dippin’ Dots could come to retail, new owner says

    The ice cream, which J&J Snack Foods recently purchased for $222 million, has a large presence in outlets including movie theaters, stadiums and amusement parks, but not grocery stores.

    By • Nov. 29, 2022
  • Freshly's Purely Plant line
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    Courtesy of Freshly
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    Nestlé scales back meal delivery presence through Freshly deal

    The CPG giant and private equity firm L Catterton are creating an entity bringing together the business it bought two years ago and Kettle Cuisine. Nestlé will retain a 41% stake in the partnership.

    By • Nov. 28, 2022
  • Unique Snacks, pretzel
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    Permission granted by Unique Snacks
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    Once a ‘sleepy category,’ the pretzel grabs its fill of the $106B snacking space

    Long mocked as an unloved staple of bars and airplanes, brands such as Hershey’s Dot’s have turned to bold flavors to attract snack-obsessed consumers.

    By • Nov. 28, 2022
  • Post Holdings, cereal, pebbles
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    Permission granted by Post Holdings
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    Post is on lookout for M&A deals, CEO says

    Rob Vitale said the manufacturer of Peter Pan peanut butter and Pebbles cereal has a cash-rich balance sheet that could be beneficial as it considers whether to add to its portfolio.

    By • Nov. 23, 2022
  • A Beyond Meat double cheeseburger with a toothpick flag of the company's logo sits on a counter.
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    Courtesy of Beyond Meat
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    Deep Dive

    How can plant-based meat get back to growth?

    As business indicators have worsened, Beyond Meat and other companies in the space have tried new strategies — but analysts say they may have forgotten consumers along the way.

    By • Nov. 17, 2022
  • Vow cell-based meat
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    Courtesy of Vow
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    Vow raises $49.2M to expand cultivated meat production

    The Australian company, which focuses on growing uncommon types of meat such as kangaroo, alpaca and quail from cells, plans to launch in its home country and the U.S. next year.

    By • Nov. 14, 2022
  • A hand wearing a safety glove gives a paper-wrapped ice cream sandwich with round cookies and pink ice cream to another hand.
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    Alex Wong via Getty Images
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    Deep Dive

    From science to CPG: New ventures create opportunities for startups

    While many larger players in the food tech space had to build their own facilities and processes from scratch, entities are planning to give those starting out now a smoother beginning.

    By • Nov. 11, 2022
  • Back to Nature, B&G Foods
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    Courtesy of B&G Foods
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    B&G Foods ‘actively seeking’ to sell Back to Nature brand

    The owner of Ortega and Cream of Wheat said it is also looking at other divestitures that could help it pay down debt, reduce leverage and better position its portfolio for growth.

    By • Nov. 11, 2022
  • Beyond Meatballs at a retail store.
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    Courtesy of Beyond Meat
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    As revenue slides, Beyond Meat CEO outlines strategy to improve business

    CEO Ethan Brown said today’s economy has not been kind to plant-based meat. He’s aiming to return the company to cash-flow-positive operations in the second half of 2023.

    By • Nov. 10, 2022
  • A rendering of Steakholder Foods' planned future facility: A large open room with windows. Three large bioreactors in the middle, with smaller ones, 3D printers and storage drawers arranged around.
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    Courtesy of Steakholder Foods
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    From science to CPG series

    A five-part series examining the challenges food tech companies face when scaling up.

    By • Nov. 9, 2022
  • Athletic Brewing nonalcoholic beers
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    Retrieved from Athletic Brewing Company.
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    Keurig Dr Pepper invests $50M in Athletic Brewing

    The minority stake deepens the soda and coffee giant’s presence in the nonalcoholic category following its acquisition of ready-to-drink cocktail brand Atypique in June.  

    By • Nov. 9, 2022
  • A person in lab safety gear bends slightly and works with one of Future Meat Technologies' large silver bioreactors.
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    Courtesy of Future Meat Technologies
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    Deep Dive

    From science to CPG: How money makes the food tech startup world go round

    Fundraising and understanding a realistic timeline are high barriers for these companies as they face R&D and regulatory challenges.

    By • Nov. 8, 2022
  • A view of an industrial room with scientific equipments and desks.
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    Permission granted by Finless Foods
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    Deep Dive

    From science to CPG: How food tech companies grow into tomorrow’s food manufacturers

    It’s difficult to take a scientific discovery that could change the way the world eats and get it to consumers’ plates. Startups need tenacity, money, R&D, patience and an understanding of reality.

    By • Nov. 7, 2022
  • Fermentation equipment in an open building, with concrete block walls and floors on one side, and an open view of grass and trees behind. Two people in hard hats stand nearby.
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    Permission granted by BioVeritas
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    BioVeritas gets $65M for fermented upcycled ingredients

    The company, which turns broken pasta and other food waste into ingredients commonly sourced from petrochemicals, plans to open a commercial-scale plant in 2025.

    By • Oct. 27, 2022
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    Christopher Furlong via Getty Images
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    Constellation transitions to passive role at Canopy Growth

    As part of a deal, the alcohol giant would keep its existing 35.7% stake, but no longer be allowed to nominate representatives to the board or approve certain transactions.

    By • Oct. 25, 2022
  • Kodiak Cakes, cookies
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    Permission granted by Kodiak Cakes
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    Q&A

    How one private equity firm is adapting its strategy in today’s volatile environment

    While Peter Burns, managing partner at Sunrise Strategic Partners, said there is plenty of money still looking for a home in food, investors are more cautious and prioritizing profitable, established brands.

    By • Oct. 24, 2022