Lab-Grown Lobster and Amazon Aplenty: CPG News, Week of Apr 12-16
Contents
Unioncrate's curated weekly round-up of CPG & supply chain news. This week's news features big bucks for alternative bacon, cell-based lobster, and a new private label food brand for Amazon.
investments-acquisitions
Investments & Acquisitions
Cultured Decadence, manufacturer of lab-created lobsters, has raised $1.6M in its pre-seed round. The Spoon
Hain Celestial is selling its Dream and WestSoy alt milk brands to SunOpta for $33M. Food Dive
Atlast Food Co. has raised $40M to make alternative bacon out of mushroom mycelium. Food Dive
Private equity firm Kainos Capital has sold foodservice distributor Ferraro Foods to Kelso & Company, another private equity firm, for an undisclosed sum. FoodBev
Riviana Foods has invested $15M into its Memphis instant rice production facility. FoodBev
Impossible Foods has a new Chief Experience Officer: Steve Turner, previously of Apple. Consumer Goods Technology
SpartanNash has a new Chief Supply Chain Officer: David Petko, previously of C&S Wholesale Grocers. Supermarket News
Hippeas has a new CEO: Paul Nardone, previously of Annie’s. Food Dive
General Mills has partnered with other investors to funnel $20M into jarred desserts maker Pots & Co. Food Business News
Hazel Technologies has raised a $70M Series C to prevent food waste, which it does by putting packets into produce that “inhibit the release of the ripening agent ethylene.” Food Dive
CVS is now offering frozen food from Beyond Meat, Birds Eye, and Amy’s Kitchen. Winsight Grocery Business
BODYARMOR has a new $5B sales target. BevNet
products-partnerships
New Products & Partnerships
Amazon has launched Aplenty, its private label snack brand to be offered at Amazon Fresh locations. Grocery Dive
Canadian alternative meat brand The Very Good Food Co. is distributing through Colorado-based Green Spoon Sales in an effort to increase its US presence. Winsight Grocery Business
Kraft-Heinz has launched snackable Jet-Puffed marshmallows covered in chocolate. Food Business News
Simulate has gained new distribution with Walmart. Read about the 21-year-old founder’s journey. Business Insider
Grove Collaborative is launching at Target, its first retail location. Modern Retail
Nestlé is incorporating Banza pasta into one of its newest dishes in its Life Cuisine line. Food Dive
BLD is a new brand of protein bars—a savory one. Food Business News
In The Raw’s newest sweetener blends monk fruit, stevia, allulose, and erythritol to emulate the taste and texture of granulated sugar. Food Dive
Coca-Cola and Jel Sert have partnered to produce a line of frozen Powerade pops. FoodBev
supply-chain
Supply Chain News
Conagra has accrued $15M in supply chain costs in order to keep up with their demand. Seems as though they may need better demand forecasts, I don’t know from whom, but. Supply Chain Dive
Kroger, in partnership with UK retailer Ocado, has launched two robotic fulfillment centers in Ohio and Florida. Winsight Grocery Business
Keurig Dr. Pepper pledges to cut its use of virgin plastic by 25% by the year 2025. Food Dive
Merit Functional Foods has opened a 94,000-square-foot facility in Manitoba, Canada to process canola protein. Food Dive
Target has tested fulfilling DTC orders in Minneapolis using a sortation center and contractors from Shipt. CNBC
Amazon’s most recent investor letter is out. Modern Retail
good-reads
Good Reads
Despite a wild 2020 and its continued consequences in 2021, PepsiCo’s revenue has risen 6.8%. CNBC
The pandemic opened up opportunities for smaller food brands to gain market share—and they’re continuing to thrive. Food Business News
Gen Z’s main spending priority? Food, in all of its glory. Food Dive
The agrifoodtech industry is booming in China, especially when it comes to startups. Read more on how agrifoodtech startup investing increased by 66.1% YOY compared to the global rate of 34.5% YOY. AgFunder
Did you know that spinach serves as a great exoskeleton for bovine cell cultivation? Yeah, that one’s a brainfull. Read more in Green Queen.
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