Finances and Deals: Page 26
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Permission granted by Sovos Brands
As inflation rages, Sovos Brands thrives with a premium portfolio
Despite the surge in demand for private label products, the company’s Michael Angelo’s frozen meals and Rao’s sauces are attracting consumers who want to indulge more at home, CEO Todd Lachman said.
By Christopher Doering • Aug. 16, 2022 -
Permission granted by Eat the Change
Seth Goldman’s Eat the Change raises $14.5M to help launch Just Ice Tea
The funding will be used to set up and scale production, with a national brand rollout in some major retailers slated for October.
By Christopher Doering • Aug. 15, 2022 -
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 -
Courtesy of Clif Bar
Food and beverage M&A dips in Q2, study finds
Despite 84 deals compared to 99 in the same period last year, large cash stockpiles will keep the space “an attractive and intrinsically defensive sector for investments,” according to research and data provider Kroll.
By Christopher Doering • Aug. 12, 2022 -
Retrieved from TreeHouse Foods.
TreeHouse to sell large part of meal prep business for $950M
The sale to Investindustrial, which comes amid strong demand for store-branded offerings, will simplify the private label maker’s business and allow it to focus on higher-growth and -margin foods.
By Christopher Doering • Aug. 11, 2022 -
Permission granted by Danone
The secret behind Danone’s ‘very recession resilient’ portfolio
North American CEO Shane Grant said the company will benefit as consumers prioritize essential foods like its creamers, yogurts and plant-based milks.
By Christopher Doering • Aug. 10, 2022 -
Courtesy of Haus
Aperitif maker Haus to shutter as Constellation reportedly backs out on funding round
In a tweet, the upstart’s CEO said the three-year-old company is in the process of closing, and without an investor, doesn’t have the cash to support its operations.
By Christopher Doering • Aug. 10, 2022 -
Retrieved from Archer Roose.
Constellation Brands buys minority stake in canned wine Archer Roose
The investment comes four months after the alcohol giant bought the remaining stake it didn’t already own in Austin Cocktails.
By Christopher Doering • Aug. 9, 2022 -
Courtesy of Beyond Meat
Beyond Meat cuts outlook and employees as sales and earnings disappoint
As higher prices and inflation lead consumers to trade down at the grocery store, CEO Ethan Brown said the company is focusing on reducing its operational expenses.
By Megan Poinski • Aug. 5, 2022 -
Retrieved from McCormick & Co..
Del Monte buys broth and stocks brand Kitchen Basics from McCormick
The purchase for an undisclosed amount will strengthen the company’s branded portfolio while complementing College Inn, its existing product in the category.
By Christopher Doering • Updated Aug. 4, 2022 -
Permission granted by Sanderson Farms
Cargill and Continental Grain close $4.5B purchase of Sanderson Farms
The transaction, which was announced last August and creates the third-largest U.S. poultry processor, was delayed by a Justice Department review.
By Christopher Doering , Chris Casey • Updated July 22, 2022 -
Courtesy of Truly Hard Seltzer
Boston Beer stung by declining hard seltzer demand
The Truly maker is under pressure as the once popular alcohol category has fallen out of favor with more consumers turning to ready-to-drink cocktails and other offerings.
By Christopher Doering • July 22, 2022 -
Courtesy of Meati Foods
Meati nets $150M investment for expansion as products hit store shelves
The funding will help the mycelium-based meat analog company complete its “Mega Ranch” facility, which will supply all Sprouts Farmers Market stores later this year. Chipotle’s venture fund was among the investors.
By Megan Poinski • July 21, 2022 -
Permission granted by Phytolon
Phytolon raises $14.5M, led by Royal DSM's venture arm
The fermented natural colors maker plans to expand its products globally, with the help of leaders in the biotech space.
By Chris Casey • July 14, 2022 -
Permission granted by Brevel
Why Brevel says its microalgae will become the most popular alternative protein ingredient
The inexpensive powder with a mild taste and high level of nutrition will eventually topple today’s standards of soy and pea in plant-based foods, the Israeli company’s CEO says.
By Megan Poinski • July 14, 2022 -
Courtesy of Base Culture
Flowers Foods invests in keto bread maker Base Culture
The bakery giant will help the gluten- and grain-free company increase distribution, scale and marketing, as well as bolster manufacturing capabilities.
By Megan Poinski • July 14, 2022 -
Permission granted by Tyson Foods
Tyson uses automation and employee programs to meet chicken demand
The poultry giant is working to improve efficiency as supply issues continue to mount.
By Chris Casey • July 12, 2022 -
Courtesy of Steeped Coffee
Sustainable coffee maker Steeped raises $5M through crowdfunding
The beverage upstart said the money will go toward bringing its compostable single-serve brewing process to more drinkers.
By Christopher Doering • July 7, 2022 -
Courtesy of The Vita Coco Company
Diageo partners with Vita Coco on canned cocktail beverage
The drink, which will include the popular coconut water and Captain Morgan rum, will be available in three flavors starting in early 2023.
By Christopher Doering • July 6, 2022 -
Jeff J Mitchell/Getty Images via Getty Images
Diageo buys flavor tech company to streamline drink exploration, path to purchase
The world’s second largest distiller is hoping to match consumers — especially young ones — with a whiskey, eliminating the costly experimentation process.
By Sara Karlovitch • July 5, 2022 -
Courtesy of Bolthouse Farms
Cost of Fourth of July cookouts to jump by double digits this year
Price increases for food items like chicken, bread and soda have made this year’s holiday a more expensive celebration, according to two recent analyses.
By Chris Casey • July 1, 2022 -
Permission granted by Sanderson Farms
Sanderson, Wayne Farms merger delayed
In a new SEC filing, Sanderson Farms said it still expects the deal to close but not in its expected timeframe of mid-2022.
By Chris Casey • June 29, 2022 -
Courtesy of Eclipse Foods
Eclipse Foods scoops up more than $40M to invest in plant-based dairy
The ice cream maker’s signature ingredient blend can enable an entire non-milk platform, and additional products will launch next year.
By Megan Poinski • June 28, 2022 -
Courtesy of Atomo Coffee
Atomo raises $40M for molecular coffee and launches RTD products
The beans-free startup will begin shipping cold brew and latte products that aim to deliver a similar taste as traditional options, but with improved sustainability.
By Samantha Oller • June 28, 2022 -
Courtesy of Sapporo USA
Sapporo USA to acquire Stone Brewing in deal valued at $165M
By acquiring the ninth largest craft brewer in the U.S., the Japanese beer giant is gaining production capacity and a launching ground for its own brand.
By Samantha Oller • June 24, 2022 -
Kuklev via Getty Images
Chinova Bioworks raises $6M for clean-label preservative
Investors in the company and its ingredient made from upcycled mushrooms include the venture arms of Royal DSM and Rich Products.
By Samantha Oller • June 23, 2022
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