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Memphis Meats and Multicultural Mochi: CPG News, Week of May 10-14

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May 14, 2021
by Sophie Guimaraes
5 minutes

Contents

Unioncrate's curated weekly round-up of CPG & supply chain news. This week's news features acquisitions for Nestlé and Utz, new products from My/Mochi and Vital Farms, and an increase in demand for retail tech.

investments-acquisitions

Investments & Acquisitions

Nestlé is purchasing hydration-focused sports brand Nuun for an undisclosed amount. Food Dive

Oatly has officially set its IPO terms, aiming to sell $1.65 billion worth of shares at $17 a share. Food Dive

Canned water brand Liquid Death has closed a $15M Series C round, featuring a number of celebrity backers. BevNet

Agritech firm Benson Hill is going public with a $1.35B SPAC valuation. Food Dive

Mondelez’s SnackFutures has announced the nine startups selected for its first-ever CoLab accelerator. They are: Better Bites Bakery, Chasin’ Dreams Farm, Elite Sweets, Love Corn, Numa, NuSkool, Snacklins, Sourse, and 12 Tides. FoodBev

Utz is acquiring Festida Foods for $41M in a move that aims to improve their supply chain. Supply Chain Dive

Tyson is selling its pet treats brands to General Mills for $1.2B. Consumer Goods Technology

Danone has sold its 9.8% stake in Chinese dairy producer China Mengniu Dairy for €1.6B. FoodBev

A Black woman founder has started a VC fund to invest in other Black-owned businesses. Forbes

products-partnerships

New Products & Partnerships

My/Mochi has launched a line of mochi ice creams inspired by global flavors. FoodBev

Sproud has gained distribution with Whole Foods, appointing a GM for North America in the process. BevNet

Tillamook has introduced a line of frozen custards to its product lineup. FoodBev

Target is expanding its private label Good & Gather into the plant-based space. Winsight Grocery Business

Vital Farms has debuted a line of new egg-based breakfast bars. Food Dive

Vegan breakfast sandwiches from Alpha Foods are coming to the Costco frozen aisle. VegNews

Memphis Meats has changed its name to Upside Foods. Food Dive

Nestlé’s Sweet Earth brand has introduced a line of plant-based jerky. Food Dive

Del Monte Foods is launching a line of boba-inspired RTD beverages. Food Dive

International Flavors and Fragrances is selling its fruit preparation branch to Frulact, which specializes in fruit flavorings for CPG brands. FoodBev

Thrive Market has incorporated Beyond Meat products into its private label’s frozen food line. Supermarket News

Massachusetts Stop & Shops are partnering with the Flashfood app so customers can get deals on fresh foods that are near their best-buy dates. Progressive Grocer

Equinom, an Israeli ingredients company, and Dipasa, a Mexican seed producer, are partnering to produce a higher-protein variety of sesame seeds. Food Dive

Hormel’s Jennie-O brand has debuted a line of blended turkey burgers. Food Dive

Shiseido is partnering up with Accenture to bolster its digital strategy. Consumer Goods Technology

supply-chain

Supply Chain News

Funding for retail tech has tripled to $28.9B between Q1 of 2020 and Q1 of 2021, indicating a post-pandemic move on retailers’ parts to invest in new technologies. Supply Chain Dive

Under Armour is taking a new approach to inventory: restricting it, despite ever-growing demand. Its goal with this strategy is to try to ensure the right inventory is in the right places. Supply Chain Dive

Coveris Group has acquired UK-based flexible packaging producer Four04 Packaging. FoodBev

Self-driving truck company Plus aims to build commercial-scale production with its new SPAC merger. The Wall Street Journal

Big-time retailers like Walmart and Sysco are implementing penalties for late or incomplete orders in a clear message to brands: figure out your labor and/or ingredient shortages, and fast. The Wall Street Journal

In order to fend off the ever-increasing dominance of Amazon, Japan’s Rakuten is investing in logistics. Modern Retail

MercadoLibre, an Argentinian ecommerce platform, is also leveraging investments to outpace Amazon. Modern Retail

Agriculture-focused ecommerce platform Pinduoduo has surpassed Alibaba as the largest retailer in China in number of users. Modern Retail

Coke Energy will be discontinued in North America. BevNet

Kroger has launched business incubator Go Fresh & Local Supplier Accelerator in an effort to expand its fresh food offerings. Supermarket News

Chocolate brands are increasing the traceability of its raws by mapping out 600K cocoa farms in West Africa. Supply Chain Dive

Pulpex, a packaging company co-founded by Diageo, is teaming up with Finnish company Stora Enso to produce 100% recyclable packaging sourced from recycled wood pulp. Food Dive

good-reads

Good Reads

All about crowdfunding—which the SEC raised the limit for in March—and why it’s becoming a more popular fundraising option for digitally native brands. Modern Retail

New Belgium’s Fat Tire brand has launched Torched Earth, a beer that’s meant to taste bad, in a creative marketing campaign to warn against climate change. Modern Retail

For the fourth consecutive year, sales for private sales have outpaced name brands. Winsight Grocery Business

Kroger has released a guide to bolster small brands and advance supplier diversity. Progressive Grocer

Many consumers don’t know the difference between “best if used by” and “use by” labels. Food Dive

Were you a bit confused by that, er, candy-flavored Kraft mac & cheese from back in February? Read more about why they, and others, are taking flavors to the bizarre and extreme. Fast Company

About Unioncrate

Unioncrate is an AI-powered Integrated Business Planning (IBP) platform that delivers demand forecasts with unmatched accuracy, collaborative visibility, and actionable intelligence—enabling CPG brands to plan and execute agile supply chain strategies at the click of a button.

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