A Series B for Simulate & Vegan Raw Tuna: CPG News, Weeks of Jun 7 & 14

by Sophie Guimaraes

5 minutes

Contents

Unioncrate's curated biweekly round-up of CPG & supply chain news. This week's news features a big-time acquisition for Hormel, a new mycoprotein fermentation plant for The Better Meat Co., and "raw tuna" ready to launch from Finless Foods.

investments-acquisitions

Investments & Acquisitions

Hormel has purchased Planters from Kraft Heinz for $3.35B. Food Dive

Simulate’s $50M Series B was led by Reddit co-founder and investor Alexis Ohanian. Forbes

All Market Inc., Vita Coco’s parent company, is planning to IPO at a valuation of $2B+. Food Dive

PepsiCo is investing $200M in expanding its Texas manufacturing facility to add manufacturing lines for its snack lines. Food Dive

Plant-based food tech company Motif FoodWorks has raised $226M in its Series B. Food Dive

RIND has raised $6M in its most recent funding round and aims to target the salty snack aisle. NOSH

Danone has sold plant-based protein company Vega to WM Partners for an undisclosed amount. NOSH

In other Danone news, the company is targeting younger consumers with a new “blended” line. Food Navigator

The USDA is investing $4B to strengthen the American agricultural supply chain via the Build Back Better Initiative. Food Dive

JBS USA is investing $130M to bolster its beef capacity and production as demand for red meat rises. Food Dive

Online marketplace Faire closed a funding round of $260M. BevNet

Kraft Heinz has acquired condiment producer Assan Foods, a deal valued at $100M. Consumer Goods Technology

The Better Meat Co. unveiled a 13,000-foot mycoprotein fermentation plant that’s been in the works for three years. Food Dive

Change Foods, an animal-free dairy company, has closed a $2.1M seed round. Food Navigator

Unilever has acquired skincare brand Paula’s Choice for an undisclosed amount. Consumer Goods Technology

After a merger with SPAC Seven Oaks Acquisition Corp, online retailer Boxed will become a publicly traded company. NOSH

LIVEKINDLY Collective has acquired seaweed burger maker The Dutch Weed Burger. The Spoon

Instacart has pledged to invest $1M in Black-owned CPG brands. Winsight Grocery Business

A former Coca-Cola executive, Celina Li, has been hired as head of Ocean Spray’s international expansion efforts. Food Navigator

Costco is opening five new stores across the US, as well as one in Japan and one in Australia. Business Insider

Whole Foods’ newest location in Tampa, opening July 7, will shelve 800+ local products. Progressive Grocer

products-partnerships

New Products & Partnerships

Chobani is expanding its product portfolio to include no-sugar yogurts. Food Dive

KeHE and Sprouts are partnering in an initiative to diversify their offerings for early-stage CPG brands. The Shelby Report

Hostess has released a line of dessert-inspired wafer snacks. FoodBev

Bob Evans Farms has launched a line of ready-to-eat, egg-based breakfast products. Food Dive

Cell-based seafood startup Finless Foods is launching plant-based “raw” tuna as its first product. Food Navigator

Wave Soda has gained nationwide distribution with Kroger. BevNet

Patrick Ta Beauty has launched a new palette and four new liners. Drug Store News

Gelter, Inc. has introduced a vegan collagen called PrimaColl, allegedly the first of its kind on the market. Food Dive

Barry Callebaut launched a chocolate blend, Evocao, made with cacao-fruit-only WholeFruit. Food Dive

Hong Kong brand Green Monday is expanding its OmniFoods range to include different varieties of plant-based seafood alternatives. Green Queen

Agua Bonita is the winner of BevNet’s annual New Beverage Showdown. BevNet

supply-chain

Supply Chain News

Unilever is participating in the Pulpex consortium alongside Diageo, PepsiCo, and GSK Consumer Healthcare to introduce paper-based detergent containers into their supply chain. Consumer Goods Technology

Frito-Lay has gained a competitive edge during the pandemic era thanks to its private fleet and OTR driver team. Transport Dive

Worker shortages, especially in the meat processing sector, is prompting employers like Tyson to offer better benefits and flexible hours. Food Dive

General Mills is to cut 1,400 jobs worldwide as it expects to incur $160M in restructuring costs. Food Dive

Ayo Foods has launched a line of sauces. Drug Store News

The International Maritime Organization plans to rate freight ships’ “carbon-intensity” but hasn’t yet set a process to do so. The Wall Street Journal

AB InBev has developed a lighter longneck bottle for RTD drink production. Consumer Goods Technology

Supplier chargers are on the rise. The Labor Department said Tuesday that the producer-price index rose 0.8% MOM in May, compared to a 0.6% MOM increase in April. The Wall Street Journal

FedEx Freight is dropping 1,400 customers in an effort to protect its service levels. Freight Waves

UNFI’s quarterly sales have increased 6.7% compared to numbers from 2019 (excluding the pandemic). Supermarket News

good-reads

Good Reads

Godiva is shifting to a new sales strategy with an emphasis on wholesale. Modern Retail

Asutra CEO Stephanie Morimoto is teaming up with Venus Williams to create a new wellness brand. Modern Retail

Albertsons once tried to buy Whole Foods. Read more about how that situation went down here. Boise Dev

After an initial foray into brick-and-mortar shops, Chloe’s pivoted to retail… and they did it well. Taste Radio

You already know data can be leveraged to improve forecast accuracy (maybe on a platform that rhymes with, oh, I don’t know, Unionschmate), but did you know it can be leveraged to improve food safety? Food Dive

At a press conference, Cristiano Ronaldo moves two Coke bottles out of the way to grab a water bottle. Coca-Cola’s shares dropped $5B. USA Today

We all used food to cope in 2020—unsurprisingly, specialty food sales hit a record high of $170.4B. Food Dive

Credit Suisse projects the plant-based food sector to grow 100x by 2050. Financial Review

According to Modern Retail, Asia is a key market for Impossible Foods’ success as they consider an IPO. Modern Retail

We already knew this after weeks of hearing about inflation and high supply chain costs, but according to The Wall Street Journal, food is getting expensive no matter what category it’s in. The Wall Street Journal

About Unioncrate

Unioncrate is an AI-powered Supply Chain Planning Platform that gives CPG brands the technology they need to compete and win in a rapidly changing consumer landscape. Our automated demand and supply forecasts deliver unmatched accuracy, collaborative visibility, and actionable intelligence, simplifying a manual-heavy process and slashing hours from your week.

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