Finances and Deals: Page 29
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Courtesy of Tender
Tender raises $12M to make more realistic plant-based meat
After its beginnings creating scaffolding for cultivated meat, the company is now spinning plant fibers like cotton candy to develop analogs that have a more similar texture to animal meat.
By Megan Poinski • March 15, 2022 -
Mario Tama via Getty Images
Nearly 80% of food and beverage companies have passed on higher costs to customers, survey finds
According to Mazars' research, 83% of respondents expected sales to increase in 2022, while 54% identified higher shipping costs as their primary concern.
By Christopher Doering • March 14, 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 -
eskymaks via Getty Images
How Yali Bio plans to revolutionize alternative fats
The startup, which recently closed a $3.9 million seed round, is using precision fermentation to recreate naturally occurring fats for plant-based meat and dairy products.
By Megan Poinski • March 10, 2022 -
Permission granted by Phytolon
Ginkgo Bioworks partners with Phytolon on natural colors
The biotech powerhouse will work to improve and scale processes of the Israel-based company that uses precision fermentation to make yellow, purple and pink pigments.
By Megan Poinski • March 3, 2022 -
Permission granted by Ingredion
Disruption has drawn ingredient suppliers and food manufacturers closer, Ingredion CEO says
Jim Zallie said reduced R&D budgets, changing consumer tastes and an urgency to get products to market faster has created "more intimate relationships" between the two sides.
By Christopher Doering • March 3, 2022 -
Permission granted by Belgian Boys
Kind founder's fund leads $7M Belgian Boys investment
Through the money and a partnership, Daniel Lubetzky's Equilibra Ventures will help the European-style sweet snacks and breakfast company expand globally.
By Megan Poinski • March 1, 2022 -
Courtesy of Good Culture
Good Culture raises $64M for cultured foods expansion
The cottage cheese brand has attracted funding from investors including actress Kristen Bell as it looks to bring health benefits like probiotics into new product categories.
By Chris Casey • Feb. 24, 2022 -
Courtesy of Wildtype
Wildtype receives $100M investment
The cell-based seafood company plans to use the funding to expand production of sushi-grade salmon as it prepares for a U.S. launch.
By Megan Poinski • Feb. 23, 2022 -
Courtesy of The Kraft Heinz Not Company LLC
Kraft Heinz enters joint venture with NotCo
The partnership will develop and produce plant-based co-branded products, combining the CPG giant's vast portfolio and reach with the startup's ability to reimagine animal-derived food.
By Megan Poinski • Feb. 23, 2022 -
Christopher doering/Food Dive
Deep DiveOnce an afterthought, brand licensing reaps billions for CPGs hungry for growth
Hershey, Conagra and Post are a few companies using the strategy to expand their business, build equity and keep products relevant.
By Christopher Doering • Feb. 22, 2022 -
Fiona Goodall via Getty Images
Kerry buys 2 biotech companies for more than $226M
The acquisition of Germany's C-LEcta and Mexico's Enmex will help the Irish ingredients company expand its enzymes and precision fermentation business.
By Megan Poinski • Feb. 17, 2022 -
Courtesy of Future Meat Technologies
Food tech saw $39.3B in VC investments last year, says PitchBook
Companies making alternative protein products and ingredients received $6 billion — a 93.4% increase over 2020, the report found.
By Megan Poinski • Feb. 17, 2022 -
Permission granted by Change Foods
Change Foods raises $12M and partners with Upfield and Sigma
The animal-free dairy company will collaborate with the plant-based butter giant and the global cheese maker to develop products, scale production and increase distribution.
By Megan Poinski • Feb. 15, 2022 -
Courtesy of Next Gen Foods
Next Gen Foods raises $100M and expands to US
The Singapore company's much-hyped Tindle plant-based chicken is now available at 12 restaurants and major foodservice distributors, and the funds will go toward more expansion and R&D.
By Megan Poinski • Feb. 15, 2022 -
Permission granted by Dreyer's Grand Ice Cream
After divestiture by Nestlé, sales heating up at Dreyer's Grand Ice Cream
The company, which posted its fastest growth rate in years in 2021, is investing half a billion dollars to boost manufacturing, marketing and innovation for brands like Häagen-Dazs and Drumstick.
By Christopher Doering • Feb. 14, 2022 -
Courtesy of Endless West
Molecular spirit maker Endless West raises $60M for tech scale-up
The funding will go toward expanding the company's Blank Collective B2B manufacturing platform in the U.S. and overseas, while increasing production up to 20-fold.
By Samantha Oller • Feb. 11, 2022 -
Courtesy of International Flavors & Fragrances
IFF adds Icahn-recommended member to board
Church & Dwight Chief Marketing Officer Barry Bruno will be one of eight new board members of the ingredients giant, which will also get a new CEO next week.
By Megan Poinski • Feb. 10, 2022 -
Say-Cheese via Getty Images
Cell-based chocolate maker California Cultured gets strategic investment from Cult Food Science
The West Coast company grows cocoa from cells in bioreactors, bypassing the human rights and environmental problems associated with the ingredient's production.
By Megan Poinski • Feb. 10, 2022 -
Christopher Doering/Food Dive
Beer industry scrutinized by Treasury Department following wave of consolidation
In a new report, the department said the DOJ and FTC should examine the way they review mergers in the sector while paying "particular skepticism to claims of efficiencies" in assessing future deals.
By Christopher Doering • Feb. 10, 2022 -
Permission granted by Everything Legendary
Plant-based burger Everything Legendary raises $6M with backing from General Mills
Entrepreneur Russell Simmons also became a senior advisor to the Maryland-based brand, which was jumpstarted with a 2021 appearance on "Shark Tank."
By Megan Poinski • Feb. 8, 2022 -
Permission granted by Hormel Foods
Hormel Foods' snack brands thrive behind 'transformative' $3.35B Planters buy
The acquisition, the largest in the company's 131-year history, immediately became its biggest brand and opened up shelf space for other offerings in its portfolio.
By Christopher Doering • Feb. 7, 2022 -
Courtesy of Susan Wilkinson, via Zero Acre Farms
Zero Acre Farms raises $37M for its mission to make oil healthier
The startup uses fermentation to create fats that are better for human health and the environment, and plans to launch its first product later this year.
By Megan Poinski • Feb. 3, 2022 -
Courtesy of Orgain
Nestlé to buy majority stake in protein powder maker Orgain
The deal accelerates the CPG giant's push to grow its health and wellness business while selling parts of its slower-growing food and beverage division.
By Christopher Doering • Feb. 3, 2022 -
Courtesy of Kalera AS
Kalera starts trading on Nasdaq
The indoor farming company debuted at $14 a share after its shareholders approved its merger with Agrico Acquisition Corp. at a special meeting on Tuesday.
By Samantha Oller • Updated June 29, 2022 -
Courtesy of Olipop
Functional soda Olipop raises $30M with notable investors, including former PepsiCo CEO
The three-year-old company, which plans to use the money to develop new products and hire employees, said the celebrity-packed funding round values it at $200 million.
By Christopher Doering • Feb. 1, 2022
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