Finances and Deals: Page 27
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Courtesy of Crush Dynamics
How CrushDynamics upcycles wine waste into a nutritious ingredient
The Canadian company uses fermentation to make polyphenol-rich blends that can enhance flavor, reduce salt, block bitterness and extend shelf life, and plans to take its tech to winemaking regions worldwide.
By Megan Poinski • June 23, 2022 -
Mark Wilson via Getty Images
How food tech companies can raise money in a slowing economy
Investors still want to put funds toward well-established players in the sector, and M&A, partnerships and joint ventures will continue to proliferate, said panelists at the Future Food-Tech Alternative Proteins conference this week.
By Megan Poinski • June 23, 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 -
Justin Sullivan via Getty Images
Splitting Kellogg is the best way to drive growth, CEO says
In an interview, Steve Cahillane said dividing the 116-year-old CPG will unlock value and create three "healthy, strong companies” in plant-based food, cereal and snacks.
By Christopher Doering • June 22, 2022 -
Tim Boyle via Getty Images
Kellogg splitting into 3 companies
The CPG will spin off its North American cereal and plant-based foods operations while retaining its global snacking business. The separation is slated to be complete by the end of 2023.
By Megan Poinski , Christopher Doering • Updated June 21, 2022 -
Courtesy of Clif Bar
Mondelēz to buy Clif Bar for at least $2.9B
The purchase of the Clif, Luna and Clif Kid brands further expands the CPG giant’s reach in snacking while giving it a major presence in the high-growth bar business.
By Christopher Doering • Updated June 20, 2022 -
Courtesy of The Live Green Group
Live Green Group partners with Sigma to make clean-label ingredients
This agreement will utilize the startup’s Charaka algorithm and the Mexican food giant’s reach to create alternatives to things like methylcellulose, gums and emulsifiers.
By Megan Poinski • June 16, 2022 -
Courtesy of Nestlé
Nestlé sells Chameleon coffee to food and beverage operator
The divestiture to Systm Foods for an undisclosed amount comes five years after the food giant purchased the brand as part of a broader effort to grow its presence in the popular beverage category.
By Christopher Doering • June 16, 2022 -
Courtesy of Moolec Science
Moolec Science to go public through SPAC merger
The company, which uses bioengineered plants to produce animal proteins, is valued at $504 million in the deal.
By Megan Poinski • June 16, 2022 -
Catherine Douglas Moran/Food Dive
Magic Spoon raises $85M as better-for-you cereal launches at retail
The former DTC brand has built a large fan base of Gen Z and millennial consumers thanks to its low-sugar, high-protein offerings in fun flavors.
By Samantha Oller • June 14, 2022 -
Courtesy of Coca-Cola
Coca-Cola partners with Brown-Forman to launch Jack Daniel's RTD cocktail
The beverage, which marks the soda giant’s fourth alcoholic offering, will be sold around the world. The initial rollout is planned for Mexico in late 2022.
By Christopher Doering • June 13, 2022 -
Courtesy of Danone
Danone's venture arm invests in oat milk maker Minor Figures
The minority stake will allow the upstart to expedite its global footprint while enabling the CPG giant to deepen its presence in the fast-growing plant-based beverage subcategory.
By Christopher Doering • June 13, 2022 -
Retrieved from Foster Farms.
Chicken company Foster Farms purchased by private equity firm
Acquirer Atlas Holdings has named former Tyson CEO Donnie Smith to lead the poultry processor, which has $3 billion in annual revenue.
By Christopher Doering • June 8, 2022 -
Courtesy of J.M. Smucker
Jif recall may cost Smucker $125M
Salmonella contamination in products from the company’s largest peanut butter plant triggered a massive recall last month, which could subtract about 2% from total sales, the jam maker said.
By Megan Poinski • June 8, 2022 -
Permission granted by Eat the Change
Jilted by Coca-Cola, Honest co-founder plans new RTD tea launch
Just two weeks after the beverage giant announced it would discontinue the line in 2022, Seth Goldman said his yet-to-be named drink would have the same values and similar recipes.
By Christopher Doering • June 6, 2022 -
Courtesy of Royal DSM
DSM, Firmenich to merge into 'powerhouse of innovation and creativity'
The Dutch chemicals giant and Swiss ingredients maker will combine in a $21 billion deal to pursue natural, clean-label and sustainable products.
By Samantha Oller • June 2, 2022 -
Courtesy of Joywell Foods
Joywell Foods nets $25M from Kraft Heinz VC and others for sweet protein commercialization
The company, which uses fermentation to create substances found in super sweet African fruits, is working toward bringing a line of beverages to market.
By Megan Poinski • June 2, 2022 -
Christopher Doering/Food Dive
Beer drinkers clinging to higher-priced brews as inflation rages, Molson Coors CEO says
In an interview, Gavin Hattersley said price increases for the alcoholic beverage are trailing those hitting gas and other food categories, making it an affordable offering for many people.
By Christopher Doering • June 2, 2022 -
Permission granted by Unilever
Activist Nelson Peltz to join Unilever board
The investor, whose group owns a 1.5% stake in the European CPG giant, has a track record of pushing large food companies to split off less profitable divisions.
By Megan Poinski • May 31, 2022 -
Justin Sullivan via Getty Images
General Mills to sell Helper, Suddenly Salad for $610M
Eagle Foods, known for its sweetened condensed milk, will buy the two brands. The transaction could help both companies expand in growing categories.
By Chris Casey • May 25, 2022 -
Permission granted by Evo Foods
Ginkgo Bioworks partners with Evo Foods on animal-free eggs
The U.S. biotech company will offer its scientific expertise in precision fermentation to help the Indian plant-based CPG create an ingredient to use in its products.
By Megan Poinski • May 19, 2022 -
Permission granted by Dippin' Dots
Dippin' Dots to be acquired by Icee owner J&J Snack Foods for $222M
The snack maker said the purchase will complement its existing frozen business and leverage its expertise to grow the ice cream brand and enter new markets.
By Christopher Doering • May 19, 2022 -
Courtesy of Motif FoodWorks
Motif FoodWorks launches plant-based meat products
The food tech company, which says it is debuting the offerings following strong demand for test products demonstrating its ingredients, also received an investment from Robert Downey Jr.'s venture capital fund.
By Megan Poinski • May 18, 2022 -
Courtesy of Eat Just
ADM partners with Eat Just on cell-based meat growth medium and product development
This is the ingredient powerhouse's first agreement in the cultivated meat space, and the company says it fits in with its strategic focus on alternative proteins.
By Megan Poinski • May 17, 2022 -
Permission granted by Brightseed
Brightseed raises $68M to accelerate artificial intelligence work
The creator of Forager AI, which maps the health impact of plant-based compounds, plans to use the funding to launch its first FDA-GRAS ingredient.
By Christopher Doering • May 12, 2022 -
Courtesy of Beyond Meat
Beyond Meat shares drop as jerky costs drive $100.5M loss
President and CEO Ethan Brown said the internal costs the company incurred will pay off in the long run, but analysts seem to be skeptical of the strategy.
By Megan Poinski • May 12, 2022
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