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- Serving operations teams with formulation, nutritional analysis, and compliance tools
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Venture Funding
Weekly Summary: There was a slight decline in venture activity this week; however, there were some developments in the sauces, seafood & alcohol segments.
Tia Lupita Foods Secures $2.6M in Seed Funding
Tia Lupita Foods, a California-based company that sells Mexican hot sauce, has secured $2.6 in seed funding. The funding comes from Santatera Capital and GBM Ventures, among other investors (Source).
BlueNalu Inc. Raises $35M in Series B Funding
Blue Nalu, a cell-cultured seafood manufacturer has raised $35M in a Series B funding round. The company plans to use the additional funds to further expand its growth (Source).
Switchyard Brewing Announces Equity Funding Round
Switchyard Brewing, a Bloomington-based brewing company, has announced its “community equity funding round”. The funding round invites locals & supports to invest directly in the brewery (Source).
M&A
M&A Weekly Summary: There was a healthy amount of M&A activity this week, driven by 2 significant strategics.
Ferrara Candy Reaches an Agreement to Aquire Jelly Belly Candy Company
Candy giant, Ferrara Candy has reached an agreement to acquire Jelly Belly Candy, a company best known for selling jelly beans. The deal further expands Ferrara’s portfolio which currently includes Trolli, Red Hots and Fun Dip to name a few (Source).
WarRoom Cellars Acquires Toad Hollow Vineyards
WarRoom Cellars, a California-based wine company, has acquired Toad Hollow Vineyards. The deal further expands WarRoom’s profile, which currently includes Lapis Luna & Bonny Doon Vineyard (Source).
Retail & Distribution
Retail & Distribution Weekly Summary: There was a slight decrease in distribution activity this week. There were a few developments within the caffeinated beverage segment.
Kardea Brown Launches a New Line at Walmart
Celebrity Chef, Kardea Brown has partnered with Golden West Food Group to launch a line of frozen entrees at Walmart. The rollout comes after the superstore launched a line of frozen dishes by Gordon Ramsey in September (Source).
Sang Rolls Out Nationwide at The Fresh Market
Sang, a ready-to-drink Vietnamese coffee company, has rolled out nationwide at Th Fresh Market. The rollout significantly increases the beverage company’s national presence (Source).
Pureboost Energy is Now Available on Costco.com
Pureboost Energy, the antioxidant energy drink mix, has launched on Costco.com. The deal significantly increases the company’s invisibility & overall distribution (Source).
Hiatus Cheesecake Launches at Kroger
Hiatus Cheesecake, the Baltimore-based cheesecake frozen company, is now available in Mid-Atlantic Kroger locations. (Source).
Welcome!
Hello, this is a weekly newsletter covering major venture funding, M&A, and retail & distribution updates in the US food & beverage CPG space. If you aren’t subscribed, please see the subscribe button below.
Our sponsor SKUsafe is an enterprise software platform focused on:
- Equipping high growth brands and manufacturers with best-in-class specification management
- Serving operations teams with formulation, nutritional analysis, and compliance tools
- Arming sales & marketing teams with sell sheets and product catalogues that automatically tie to a single source of product truth
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Venture Funding
Weekly Summary: There was a healthy amount of venture activity this week, particularly in the better-for-you segment.
Wanda Fish Technologies Secures $7M in Seed Funding
Wanda Fish Technologies, a company that formulates cultivated fish, has secured $7M in seed funding. The funding allows the company to cultivate and scale their blue fish tuna filet (Source).
DAIZ Raises ~$47M in Series C Venture Funding
DAIZ, a Japanese company specializing in plant-based meats, has raised over $47M in series C venture funding. The funding comes in the form of debt & equity from Roquette, Nisshan Seifun Group, and Miyoshi Oil & Fat Company. The company has raised over $87M to date (Source).
The Sharks Take a Bite of Gatsby Chocolate on Shark Tanks
Gatsby Chocolate, the better-for-you chocolate brand named after Fitzgerald’s iconic character, has received funding on ABC’s Shark Tank. The company, owned by brothers, walked away with $250K in exchange for 20% equity & another $250k in loans (Source).
Bonumose Raises $34M in Venture Funding
Bonumose, a producer of raw food, has raised more than $34M in venture funding. The funding round was led by Symise, with the participation of other investors (Source).
M&A
M&A Weekly Summary: M&A activity slowed down this week. However, there were a few developments in the beverage segment.
Better Booch Acquires Live Soda
Kombucha giant, Better Booch, has acquired Live Soda, a company that produces gut-healthy soda. This deal marks the first M&A deal for Better Booch, significantly expanding their US presence (Source).
Longwood Gardens Purchases Galer Estate & Winery
Galer Estate & Winer, a Pennsylvania-based vineyard & wine distributor, has been purchased by Longwood Gardens (Source).
Retail & Distribution
Retail & Distribution Weekly Summary: There was a slight decrease in distribution activity this week. There were a few developments within the health food segment.
Target Introduces New Olipop Products
Olipop, a ready to drink beverage company that specializes in better-for-you sodas, has introduced their new tinier cans to Target. The launch follows a long-standing, years long partnership between the two companies (Source).
Heilala Rolls Out at Sprouts
Heilala, a company that specializes in vanilla bean paste has rolled out at Sprouts Markets across the country. The roll out follows the company’s recent partnership with Gather Brands, a consulting company in the CPG space (Source).
Big Picture Foods Launches at Erewhom
Big picture foods, a Rhode Island-based artisanal food company, has launched its products at Erewhom, a regional grocer in California. The rollout comes after an eventful few months for the artisanal food company, which partnered with Sweetgreen earlier this year (Source).
Brewers Food Partners with Jasper Hill Farm
Brewer’s Food, a company that sells crackers made from upcycled grains, has partnered with Jasper Hill Farm. The cracker company’s “pretzel flatbread” crackers will now be offered in Jasper Hill Farm’s cheese club box (Source).
Scott’s Protein Balls are Now Available through GoPuff
Scott’s Protein Balls, a family owned company specializing in protein snacks, is now available on GoPuff in New York City. The launch is expected to lead to significantly expand the NY-based company’s distribution (Source).
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Hello, this is a weekly newsletter covering major venture funding, M&A, and retail & distribution updates in the US food & beverage CPG space. If you aren’t subscribed, please see the subscribe button below.
Our sponsor SKUsafe is an enterprise software platform focused on:
- Equipping high growth brands and manufacturers with best-in-class specification management
- Serving operations teams with formulation, nutritional analysis, and compliance tools
- Arming sales & marketing teams with sell sheets and product catalogues that automatically tie to a single source of product truth
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Venture Funding
Weekly Summary: There was a healthy amount of venture activity last week, fueled by developments in the hard alcohol segment
Bespoken Spirits Raises $12M
Bespoken Spirits, a hard liquor company with a sustainability focus has raised $12M in venture. The venture activity comes in the midst of an exciting time for the company, which recently launched in Florida, Georgia & New York (Source).
DAIZ Raises ~$1.3M in Venture Funding
DAIZ, a Japanese company specializing in plant-based meats, has raised over $1.3M. The funds come from Kagoshima and will be used to build a new germination and plant-based meat factory (Source).
Dented Brick Distillery Announces Venture Plans
Dented Brick Distillery, a Utah-based craft spirit company, has announced its plans to raise $5.7M in venture funding. The announcement follows previous alternative fundraising efforts from the company; in 2020 the distillery attempted to raise $1.2M by offering customers stock in the company (Source).
Puncher’s Chance Raises $1.7M in Seed Funding
Puncher’s Chance, the Oregon-based bourbon company has raised $1.7M in seed funding from undisclosed investors. The funding follows the march release of the brand’s fourth whiskey variety, “the UNDISPUTED” (Source).
Lebby Snacks Raises $175k in Venture Funding
Lebby Snacks, the chickpea & healthy snack company, has raised 175k in venture funding. The funding follows an eventful year for the company, which recently rolled out at Fairway & Randall’s (Source).
M&A
M&A Weekly Summary: There was a moderate amount of M&A activity this week, driven by developments in the snack food sector
Brenntag Acquires Colony Gums
Brenntag, a German-based chemical and ingredients company, has acquired Colony Gums, a gum and stabilizer manufacturer, located in Monroe, NC. The acquisition allows the German company to break into the US market and further expand its product portfolio in the nutrition category (Source).
Second Nature Brands Acquires Sahale Snacks for $34M
Second Nature Brands has acquired Sahale Snacks, a nut and trail mix company currently owned by J.M Smucker Company. This divestiture allows Smuckers, which acquired Hostess Brand in September, to “sharper [their] focus” (Source).
Piccola Cucina Acquires Judy G Foods
Judy G Foods, a Canada-based maker of gluten free & vegan foods has been acquired by Piccola Cucina. The deal enables Judy G Foods to expand their product line of better-for-you frozen pizza & desserts (Source).
Retail & Distribution
Retail & Distribution Weekly Summary: This week saw a healthy amount of distribution activity, fueled by indie brands with a health focus
New AF Drinks Products Launch at Sprouts
AF Drinks, the ready-to-drink, alcohol-free beverage company has released their cucumber flavored gin & tonic to Sprouts across the US. The launch expands upon a pre-existing partnership between the company & the retail giant (Source).
Mooski Hits the Shelves at Fresh Thyme
Mooski, the chilled oat bar company with a Swiss flare, has rolled out at Fresh Thyme Market. The deal comes during an exciting time for the company, which recently launched at Foxtrot & Central Market (Source).
Zero Acre Farms & Shake Shack Partner
Zero Acre Farm, a company that sells sugarcane cooking oil, has partnered with Shake Shake to launch a new fry in select NYC locations. The partnership enables the fast-food giant to pilot a new, more sustainable cooking method at two of their NY locations with a possibility for broader rollout in the coming months (Source).
Soom Foods is Now Available on Misfits Market & Imperfect Foods
Misfits Market and Imperfect foods now carry tahini from Soom Foods. The rollout includes the brand’s premium, classic tahini and their specialty, dark chocolate tahini with sea salt. The move follows a successful year for the company which launched its tahini at Sprouts in July (Source).
Bear Balanced Lands in Lazy Acres
Bear Balanced, the “world’s first creatine gummy” is now available at Lazy Acres, a southern California-based retail chain. The move significantly improves the gummy’s regional presence (Source).
Food & Beverage CPG Newsletter
(Week of 9/25/2023)
Welcome!
Hello, this is a weekly newsletter covering major venture funding, M&A, and retail & distribution updates in the US food & beverage CPG space. If you aren’t subscribed, please see the subscribe button below.
Our sponsor SKUsafe is an enterprise software platform focused on:
- Equipping high growth brands and manufacturers with best-in-class specification management
- Serving operations teams with formulation, nutritional analysis, and compliance tools
- Arming sales & marketing teams with sell sheets and product catalogues that automatically tie to a single source of product truth
If you are a brand or manufacturer interested in learning more about SKUsafe, please hit the "learn more” button below.
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Venture Funding
Weekly Summary: There was a healthy amount of venture activity last week, fueled by developments in the alcoholic beverage segment.
Boisson Raises $5M in Venture Funding
Boisson, the alcohol-free beverage company, has raised $5M in venture funding, in the form of convertible notes. The company plans to use the funds to scale up its operations.(Source).
Good Boy Wine Raises $40K in Angel Funding
Good Boy Wine, a California-based French wine company has raised $40K in angel funding. The capital comes from undisclosed investors in the form of safe notes (Source).
Local Coho Raises Undisclosed Amount
Local Coho, a sustainably-caught fish seller, has raised an undisclosed sum of venture funding from Cuna del Mar. The capital comes from Cuna del Mar’s impact investment fund which targets sustainable aquaculture businesses (Source).
It’s Skinny Announces $7.5M Funding Target
It’s Skinny, a better-for-you pasta company, has announced its new $7.5M funding target. The company, which offers “the 9 calorie noodle, plans to raise the money via StartEngine (Source).
Mishka Premium Vodka Raises $10K
Mishka Premium Vodka, a better-for-you spirits company based in Allentown, PA, has raised ~$10K in venture funding via StartEngine. The funding gets the company closer to its target equity of $1.2M (Source).
M&A
M&A Weekly Summary: There was a slight drop in M&A activity this week. However, there were 2 strategics and 1 merger.
Cattaneo Bros. Acquires Bob Tallman’s Authentic Cowboy Beef Jerky
Bob Tallman’s Authentic Cowboy Beef Jerky, a beef jerky company that specializes in gluten and MSG free snacks, has been acquired by Cattaneo Bros.. The move was an “obvious choice” for Cattaneo Bros., which like its target, has roots in western culture and supports the rodeo industry (Source).
Grippo’s Acquires Ballreich Snack Foods
Grippo’s, a Cincinnati-based snack food manufacturer, has acquired Ballreich Snack Foods, a snack seller located in Tiffin, OH. The acquisition allows the Cincinnati-based company to expand production into northern Ohio (Source).
Bora Health Merges with Sunway Biotech
Bora Health, a pharmaceutical producer, has merged with Sunway Biotech, a Taiwanese development center for health foods and ingredients. Using their shared facilities and resources, the companies plan to produce Ankascin 568-R, an ingredient commonly found in dietary supplements and fortified foods (Source).
Retail & Distribution
Weekly Summary: New rollouts at Walmart and Costco, major expansion for Recess
Twrl Milk Tea Rolls Out at Sprouts
Twrl milk tea, the company that sells ready-to-drink plant-based milk tea, has rolled out nationwide at Sprouts. The rollout follows an eventful summer for the company, which was made available at Wegmans in August (Source).
Yumi Launches New Line at Whole Foods
Yumi, the artisanal baby food company, has introduced its new bars and puffs to Whole Foods locations across the country. The move highlights parents’ changing expectations and demand for their baby food (Source).
Mela Water Hits the Shelves at Target
Mela Water, the California-based watermelon juice company, has rolled out at over 300 Target locations in CA, AZ, TX, and GA. The rollout precedes the juice company’s nationwide launch at Sprouts which is scheduled to happen this October (Source).
Chocxo Rolls Out at Target
Chocxo, the low-sugar, organic chocolate company, has launched at over 200 Target stores across the US. The rollout significantly increases the Vancouver-based company’s US presence (Source).
Pnuff Crunch Is Now Available at ShopRite
Pnuff Crunch, a company that sells baked peanut snack puffs, has launched at ShopRite locations in the greater NYC area. The move significantly expands the distribution channels for the better-for-you snacking company (Source).
Welcome!
Hello, this is a weekly newsletter covering major venture funding, M&A, and retail & distribution updates in the US food & beverage CPG space. If you aren’t subscribed, please see the subscribe button below.
Our sponsor SKUsafe is an enterprise software platform focused on:
- Equipping high growth brands and manufacturers with best-in-class specification management
- Serving operations teams with formulation, nutritional analysis, and compliance tools
- Arming sales & marketing teams with sell sheets and product catalogues that automatically tie to a single source of product truth
If you are a brand or manufacturer interested in learning more about SKUsafe, please hit the "learn more” button below.
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Venture Funding
Weekly Summary: This week saw an uptick in CPG-related venture funding, fueled by activity in the alcoholic beverage sector.
Spirit Hound Distillers Raises ~$700K
Spirit Hound Distillers, an artisanal Colorado-based spirit company, has raised ~$700K in venture funding. The investment follows an eventful summer for the local distillery, which opened a tasting room in July (Source).
Heineken Invests in Served
Beer giant, Heineken has bought a “significant” minority stake in Served, Ellie Goulding’s hard seltzer brand. The move is part of Heineken’s broader strategy to expand into the RTD market (Source).
Eastern Standard Provisions Co. Raises $1.07M in Funding
Artisanal soft pretzel company, Eastern Standard Provisions Co. has raised $1.07M in venture funding in the form of convertible debt. The funding comes during a period of growth for the pretzel company, which hit the freezer aisle at Whole Food nationwide this summer (Source).
SĀFU SAKE Raises $24K in Venture Funding
SĀFU SAKE, the California-based sake company has raised $24K in venture funding. The capital influx comes in the midst of an eventful year for the sake startup, which launched regionally at Total Wine & More in July (Source).
M&A
M&A Weekly Summary: CPG M&A activity slowed down this week compared to last week. There were 3 notable strategic acquisitions in the CPG space.
Bokksu Acquires Japan Crate
Japanese snack subscription company, Bokksu acquires competitor, Japan Crate. Through the acquisition, Bokksu hopes to expand its distribution channels by adopting a more robust system similar to its target company (Source).
Avalon Spirits Acquires TSS Brands
Avalon Spirits, a spirits marketing and sales company, has announced the acquisition of TSS Brands, the parent company of Whiskey Row Bourbon. The move is part of Avalon’s broader strategy to expand into the super-premium spirits market (Source).
Better For You Wellness Reaches an Agreement to Acquire The Ideation Lab
Better For You Wellness has agreed to acquire The Ideation Lab. The deal includes The Ideation Lab’s beverage division, The Jordre Well, which carries curated coffee and CBD-infused beverages. The $3M deal marks Better For You Wellness’s entrance into the increasingly-popular CBD market (Source).
Retail & Distribution
Retail & Distribution Weekly Summary: This week saw a significant amount of retail & distribution activity, fueled by product rollouts at Whole Foods.
GOODLES Hits the Shelves at HEB
GOODLES, the good-for-you mac n’ cheese company founded by Gal Gadot, is now available at HEB. The rollout comes one week after the company raised $13M in series A funding (Source).
Wandering Bear Coffee Rolls Out at Whole Foods
Artisanal coffee company, Wandering Bear Coffee, launches its signature cold brew coffee at Whole Foods. The coffee can now be found at 200+ Whole Foods locations, throughout the northeast, south pacific, rock mountains and Florida regions. (Source).
Cocojune Debuts New Food Line at Whole Foods
Dairy-free snacking company, Cocojune has released its newly-launched labneh dips to Whole Foods Market. The rollout follows Cocojune’s long-standing partnership with organic grocery store chain, which currently sells the company’s dairy-free yogurt (Source).
Andrew Zimmern Launches Walmart-Exclusive Frozen Food
Celebrity Chef, Andrew Zimmern has partnered with Walmart to launch a line of frozen meals. The line features an assortment of comfort dishes, including one that the Food Network star dubs “My Grandma’s Meatloaf”. The superstore isn't a stranger to celebrity partnerships, having recently unveiled Gordon Ramsay's line of frozen food earlier this month (Source).
Tea Drop Launches at Sprouts Market Nationwide
Tea Drop, a company that specializes in single-serve tea pods, has rolled out nationwide at Sprouts Market. The rollout includes 8 of the company’s tea and latte kits and precedes a Sprouts-Exclusive boba release that the company teased will occur later this month (Source).
Food & Beverage CPG Newsletter
(Week of 9/11/2023)
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Our sponsor SKUsafe is an enterprise software platform focused on:
- Equipping high growth brands and manufacturers with best-in-class specification management
- Serving operations teams with formulation, nutritional analysis, and compliance tools
- Arming sales & marketing teams with sell sheets and product catalogues that automatically tie to a single source of product truth
If you are a brand or manufacturer interested in learning more about SKUsafe, please hit the "learn more” button below.
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Venture Funding
Weekly Summary: This week saw an uptick in CPG-related venture funding, fueled by activity in the alcoholic beverage sector.
Molson Coors Expands Investment in ZOA Energy
Beer giant, Molson Coors has strengthened its partnership with ZOA Energy, the energy drink company co-founded by Dwayne “The Rock” Johnson. This expanded partnership involves a significant investment that will enable ZOA Energy to double its media budget for the upcoming year. The move follows Coors' recent entry into the spirits market, marking another step in strategy to expand beyond the beer sector (Source).
GOODLES Raises $13M in Series A Funding
GOODLES, the better-for-you macaroni and cheese brand founded by Gal Gadot, has raised $13M in a Series A funding round led by L Catterton. With the investment, GOODLES plans to bolster its executive team and expand US production capacity (Source).
Ten To One Secures $1M in Venture Funding
Ten to One Rum, the Caribbean rum company co-owned by Ciara, has secured $1 million in venture funding from InvestBev, an investment firm specializing in the alcoholic beverage sector. Brian Rosen, the founder of InvestBev, justified his investment by pointing to the rapid growth of the rum market, which is expected to achieve a Compound Annual Growth Rate (CAGR) of 12.6% from 2021 to 2026 (Source).
Hoplark Announces Series A Funding Round
Non-alcoholic beer company, Hoplark has announced its Series A financing round, led by Brooklyn Brewery. The deal marks the beginning of a strategic partnership between the two firms, which allows Hoplark to leverage Brooklyn’s existing infrastructure while allowing Brooklyn to expand its presence in the NA beverage category (Source).
M&A
M&A Weekly Summary: There was a healthy amount of M&A activity this week in the CPG sector, including 2 strategics, 1 financial and 1 merger.
J.M. Smucker Reaches Deal to Acquire Hostess Brands
Snacking and coffee giant, J.M Smucker has agreed to acquire Hostess Brands for $5.6B. The merger is likely to expand Hostess’s brand portfolio and strengthen its presence in the dessert-snacking category (Source).
Bacardi Acquires ILEGAL Mezcal
Privately-owned rum giant, Bicardi has acquired ILEGAL Mezcal, a leading premium artisanal mezcal seller. The deal marks Bicardi’s expansion into the mezcal market which is expected to grow at a CAGR of 16% over the next five years (Source).
Illva Saronno Holding S.p.A. Acquires Majority Stake in Sagamore Spirit
Multinational investment company, Illva Saronna Holding S.p.A. has acquired a majority stake in Sagamore Spirit, a Baltimore-based whiskey brand and distillery. The move bolsters the investment company’s presence in the US, which began in 2015 with the stateside introduction of Disaronno International (Source).
Mark Foods and Arista Seafood Merge
U.S. food processor, Mark Foods has merged with Arista Industries’ seafood division. Arista’s seafood business, which recorded over 50 millions pounds of seafood sales last year, will significantly boost Mark Food’s distribution business. According to an internal report, the merger is expected to generate over $800M in annual revenue for the new Mark Foods (Source).
Retail & Distribution
Retail & Distribution Weekly Summary: This week saw a significant amount of retail & distribution activity, fueled by product rollouts at Walmart and Whole Foods.
Walmart Rolls Out Pitaya Foods Products
Healthy snacking company, Pitaya Foods has launched its frozen smoothie bowls nationwide at Walmart. The rollout significantly expands the company’s presence in the US (Source).
SOMOS is Now Available at Target Nationwide
Burrito bowl-kit company, SOMOS is bringing its Mexican meal solutions to 1800+ Target locations nationwide. In addition to launching products from their pre-existing portfolio, SOMOS will also offer 2 target-exclusive kits at the superstore (Source).
Petit Pot Launches its Rice Pudding at Whole Foods
Premium refrigerated dessert company, Petit Pot has released its newly-launched rice pudding to Whole Foods Market. The rollout follows Petit Pot’s long-standing partnership with organic grocery store chain, which currently sells various Petit Pot puddings and desserts (Source).
Dan-O’s Seasoning Rolls-Out at Publix Super Markets
Publix Super Markets now offers Louisville-based seasoning supplier, Dan-O’s Seasoning. The rollout follows a successful month for the company; in early September it was announced that Sam’s Clubs nationwide will offer the seasoning (Source).
Sweet Nothings Products are Now Available at The Fresh Market
The Fresh Market has rolled out Sweet Nothings’ nut butter bites at all 159 of their stores. The announcement comes one year after Sweet Nothings launched their “spoonable smoothies” at the North Carolina grocery-chain (Source).
Absurd Snacks Hits the Shelves at DMV-Area Whole Foods
Absurd Snacks, an allergen-free trail mix company, is now available at Whole Foods locations throughout the DMV area. The rollout follows a breakout year for the small snacking company which started as a school project for a University of Richmond entrepreneurship course (Source).
Food & Beverage CPG Newsletter
(Week of 9/4/2023)
Welcome!
Hello, this is a weekly newsletter covering major venture funding, M&A, and retail & distribution updates in the US food & beverage CPG space. If you aren’t subscribed, please see the subscribe button below.
Our sponsor SKUsafe is an enterprise software platform focused on:
- Equipping high growth brands and manufacturers with best-in-class specification management
- Serving operations teams with formulation, nutritional analysis, and compliance tools
- Arming sales & marketing teams with sell sheets and product catalogues that automatically tie to a single source of product truth
If you are a brand or manufacturer interested in learning more about SKUsafe, please hit the "learn more” button below.
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Venture Funding
Weekly Summary: This week saw an increase in Series A funding in the healthy-snacking space and significant investments in established, yet struggling brands
SkinnyDipped Raises $12M
SkinnyDipped, a family-run company that sells nuts thinly coated in chocolate, has raised $12M in their recent series A funding round. The company’s fundraising strategy focused on individual investors rather than an investment vehicle. Notable investors included: Post Malone, Mark Wahlberg and Shakira (Source).
Eat Just Secures Funding
Eat Just, a California-based company that sells plant-based eggs, has secured funding from the non-profit VegInvest/Ahimsa Foundation. The funding provides a short-term cash infusion for the company, which has faced profitability challenges in recent months (Source).
M&A
M&A Weekly Summary: There was a healthy amount of M&A activity this week in the CPG sector, including 2 strategics, 1 financial and 1 merger.
John B. Sanfilippo & Son, Inc. Acquires TreeHouse Foods’ Assets
Snack nut seller, John B. Sanfilippo & Son, has reached a deal with TreeHouse Foods to acquire assets related to their snack bars unit. As part of the deal, John B. Sanfilippo & Son Inc. will pay TreeHouse Foods $63M in cash, subject to adjustments (Source).
Nestlé Buys Majority Stake in Grupo CRM
Swiss chocolate giant, Nestlé has purchased a majority stake in Grupo CRM, a Brazilian luxury chocolatier. This investment is part of Nestle’s broader strategy to expand its presence in the premium chocolate space (Source).
Heartisan Acquires North Country Packaging
Heartisan, the largest online retailer of specialty & flavored cheeses, has acquired North Country Packaging. The deal is expected to triple Heartisan’s manufacturing capacity, significantly expanding its fulfillment capabilities (Source).
National Lecithin Acquires Soya International
National Lecithin, a major lecithin supplier, has acquired Soya International, a New York based food ingredients supplier. The deal will allow National Lecithin to expand into the bakery, dairy and confectionary sectors (Source).
Retail & Distribution
Retail & Distribution Weekly Summary: Last week saw new rollouts at Walmart and Good Earth Markets, as well as breakfast-foods product expansions
Kellogg Launches a New Pop-Tart Flavor
Kellogg has launched a new flavor of its iconic breakfast pastry, Pop-Tart. The new flavor, Frosted Chocolatey Chip, features a chocolate chip filling and maple-flavored icing. The product is now available at Walmart and will be available at other retailers in December (Source).
Wonderful Pistachio Debuts First New Flavor in 10 Years
Wonderful Pistachios, the largest pistachio seller in the US, has launched its first new flavor in 10 years: Seasoned Salt. This new variant offers a salty taste with hints of garlic, onion, and paprika. Seasoned Salt is set to launch at retailers across the country later this month (Source).
Oscar Mayer Now Offers On-The-Go Breakfast Products
Oscar Mayer, a Kraft Heinz brand, has unveiled on-the-go breakfast items with its new Scramblers line. The Scramblers, available in 3 varieties, are now available at major retailers around the country (Source).
Banza Launches Protein Waffles
Banza, an American company that specializing in Chickpea-based comfort foods, has unveiled a line of protein waffles. The waffles, which are available in 3 varieties, officially mark Banza’s entrance into the breakfast foods market (Source).
Food & Beverage CPG Newsletter
(Week of 8/21/2023)
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- Equipping high growth brands and manufacturers with best-in-class specification management
- Serving operations teams with formulation, nutritional analysis, and compliance tools
- Arming sales & marketing teams with sell sheets and product catalogues that automatically tie to a single source of product truth
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Venture Funding
Weekly Summary: Moderate seed stage activity in the functional and sports-focused category
GoodSport Raises $5.9M
Good Sport, a Chicago firm offering milk-based sports drinks, has raised $5.9M. Sports icons Ken Griffey Jr. and Ronnie Lot are prior investors in the brands (Source).
Jellatech Raises $3.5M
US-based biotech firm, Jellatech has raised $3.5M. The company plans to use the funding to further develop and market its plant-based collagen and gelatin products. If successful, these products could significantly alter the food & beverage industries, namely the vegetarian and vegan markets (Source).
MOSH Raises $3M in Series A Funding
MOSH, a protein bar company whose products support brain-health, has closed a $3M Series A funding round. The Company, founded by Maria Shriver and son Patrick Schwarzenegger, plans to use the capital to support national expansion (Source).
Infamous Whiskey Raises 100K in Pre-Seed Funding Round
Infamous Whiskey, a Georgia-based bourbon and spirits distillery, has successfully raised 100k. The influx of capital will be used to fund the company’s crowdfunding campaign, go-to-market development and applications for local and federal licensing (Source).
M&A
Weekly Summary: No major strategic acquisitions, 1 PE-backed platform transaction
Torquoise Consulting Acquires Seltic Beverages
Torquoise Consulting has acquired Seltic Beverages, a canned cocktail company based in Scottsdale. The sale marks Torquoise’s entrance into growing ready-to-drink market (Source).
Roland Foods Acquires ifiGOURMET
Roland Foods has acquired the ifiGOURMET, a Gurnee-based supplier of baking, pastry and confectionary- products. The parent company of Roland Foods, Vestar Capital, plans to combine the confectionary acquisition with AUI Fine Foods, a subsidiary of Roland Foods (Source).
Superlatus Acquires The Urgent Company for $1.25M
US food tech firm Superlatus has acquired the Urgent Company. The acquisition includes the company’s consumer brands: Coolhaus, Brave Robot, Modern Kitchen and California Performance Company. The deal comes one month after The Urgent Company’s parent company, Perfect Day, laid off 15% of its workforce (Source).
Retail & Distribution
Weekly Summary: New rollouts at Walmart and Costco, major expansion for Recess
Walmart Now Offers Blender Bites
Blender Bites, a frozen-functional drink company from Canada, is now available at 1.6k Walmart locations across the US. This rollout follows the Company’s June entry into Walmart Canada (Source).
Belgian Boys Rolls Out Pancake Cereal at Costco
Belgian Boys, an NYC-based snack company, has announced the release of its pancake cereal. The new product will be available for a limited time only, exclusively at Costco. The release follows a viral Tik Tok trend / recipe featuring pancake cereal (Source).
Recess Expands to 5K Additional Retail Locations
Recess, a sparkling water and mocktail company, has expanded into 5k more retail locations. The beverage is now available at major retailers, namely Target, CVS and Sprouts. Including this expansion, Recess is available at 14k stores nationwide (Source).
Brazi Bites Announces the Release of Frozen-Waffle Products, Exclusively Available at Sprouts
Brazi Bites, an American company that offers gluten-free snacks, has announced its rollout of frozen, gluten-free waffles. For the foreseeable future, the waffles, which comes in sweet and savory flavors, will be available only at Sprouts (Source).
WayFare Foods Introduces Dairy-Free Pudding to Albertsons
WayFare Foods, a Montana-company offering plant-based products, has announced the release of its dairy-free pudding at Albertsons. The rollout comes only a few months after WayFare’s entry into Meijer and Hy-Vee earlier this year, and allows for further midwestern expansion (Source).