A Sweet Acquisition & Stockout Solutions: CPG News, Week of May 17-21
Contents
Unioncrate's curated weekly round-up of CPG & supply chain news. This week's news features a big-time chocolate industry acquisition, lots of updates from KIND, and—it's a dream come true—lime-only skittles.
investments-acquisitions
Investments & Acquisitions
Hershey is acquiring low-sugar chocolate brand Lily’s for an undisclosed amount. Food Dive
Oatly, in all of its glory, has officially IPOed at a valuation of $10B. Forbes
Kroger has selected 10 brands for its $2.5M Innovation Fund centering on upcycling and sustainability, including Agua Bonita, Grain4Grain, Husky Beverages, Journey Foods, Matriark Foods, NETZRO, reBLEND, Renewal Mill, Take Two, and The Spare Food Co. Winsight Grocery Business
Eat Just has raised $170M in its newest funding round. Food Dive
Plant-based chicken brand Daring has raised $40M in its Series B. Food Dive
Bagless tea brand Tea Drops has raised $5M in its Series A. Built In LA
Upside Foods, formerly known as Memphis Meats, has received capital from Whole Foods founder John Mackey. Bloomberg
Exponent Private Equity is buying dessert brand Gü Puds from Noble Foods for an undisclosed amount. FoodBev
Cell-cultured meat firm Mosa Meat has decreased the cost of its fat production by 65x. The Spoon
The American division of Mexican retailer Grupo Comercial Chedraui SA has acquired Smart & Final Stores for $600M+, marking Grupo’s geographic expansion in the States. The Wall Street Journal
The new CEO of Danone, starting in September, will be Antoine de Saint-Affrique, formerly of Barry Callebaut. Food Dive
Iceland Seafood International intends to acquire an 80% stake in Spanish salmon processor Ahumados Dominguez.FoodBev
products-partnerships
New Products & Partnerships
KIND has launched a line of plant-based ice creams, marking a pivot away from the bar category. Food Dive
In other KIND news, the supergiant has launched an almond butter breakfast bar. FoodBev
Leading Canadian energy drink brand GURU has launched a Yerba Mate energy drink in the States. BevNet
Gatorade has launched Gatorlyte, a version of the sports drinks with more electrolytes and less sugar. Food Dive
Freee has launched a line of gluten-free breakfast cereals. FoodBev
Trader Joe’s has launched vegan fudge pops. VegNews
You can now find frozen cups of riced cauliflower from CAULIPOWER at Whole Foods. CAULIPOWER
In other CAULIPOWER news, the veggie-powered brand has launched a new version of its pizza crusts, one that’s “artisanal” and “stone-fired.” Self
Instacart and 7-Eleven are expanding their partnership. Grocery Dive
Skittles has launched a limited edition pack of just its lime flavor. Best Products
Sugar Plum Chocolates has launched a line of childhood treat-inspired chocolate bars. Candy Industry
¡CACTUS! Organic Cactus Water has gained distribution with Raley’s Supermarket. BevNet
Chr. Hansen Natural Colors has changed its name to Oterra following its acquisition by investment firm EQT. Food Dive
Switzerland-based flavor company Firmenich has developed a technology, called Dynarome SR, that mimics fat in plant-based foods. Food Dive
supply-chain
Supply Chain News
Yeti’s inventory has been down 9% YoY in the past quarter, prompting the brand to look for solutions to solve stockouts. Supply Chain Dive
Meijer has opened three new supercenters (155,000 ft. sq) in Ohio and Indiana. Progressive Grocer
Kroger is testing its new Ocado ecommerce facilities for retailer and DTC deliveries. Winsight Grocery Business
The effect of high-priced corn is rippling across the rest of the supply chain, particularly in the meat sector. Forbes
Cargo ships are delivering their loads later than ever, putting yet another kink in the global economic recovery. The Wall Street Journal
Whole Foods is looking to make operational pivots after a subpar pandemic performance. Winsight Grocery Business
In-store sales for Target and TJX are soaring thanks to consumers’ general post-pandemic sentiments. The Wall Street Journal
TuSimple says its self-driving trucks shaved off 10 hours from a 24-hour trip. CNBC
Recyclablu is upcycling medical waste into personal protective gear for everyday consumers. Forbes
A year ago, every company in America was rushing to produce personal protective equipment; now that the pandemic is somewhat letting up, there’s a lot—a lot—of excess inventory. Reuters
good-reads
Good Reads
Online grocery sales are on the decline as more shoppers return to stores. Grocery Dive
Walmart, on the other hand, has its online sales up 37%. Grocery Dive
Ever wondered the percentage of consumers open to eating cultivated meat? It’s 80%. Food Dive
Catch up on the top 10 flavors to watch for 2021. Specialty Food Association
6 trends will shape the future of grocery, according to Instacart. Progressive Grocer
Grocery Outlet in particular has a bold vision for growth—one that it’s on track to execute. Progressive Grocer
“Big money is going vegan,” proclaims The New York Times. Read more; you know where. The New York Times
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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