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Here's what's new in the #cpgindustry this week: Southern Glazer's Wine & Spirits has plans to acquire Horizon Beverage. The deal includes all of Norton, Massachusetts-based Horizon Beverage’s Massachusetts and Rhode Island operations and beer, wine and spirits portfolio, adding two states to the largest bev-alc distributor’s footprint, for a total of 46 states, plus Washington, D.C., Canada, the Caribbean and Central and South America. Oats Overnight has raised $35 million in a Series B funding round intended to help the high-protein oats brand continue to expand its manufacturing capabilities and grow its footprint in retail stores. The round follows a $21 million raise from last year when the company reported around 250 full time employees and a footprint in over 2,000 doors nationwide. Kroger and Albertsons Companies’ $24.6 billion grocery merger is once again in flux after a Colorado judge and the state’s attorneys general agreed today to an order halting the proceedings until the Colorado District Court rules on the state’s lawsuit that seeks to permanently block the deal. The agreement also cancels a nine-day hearing on the preliminary injunction set to start on August 12; instead it consolidates the proceeding with a two-week trial slated to begin on September 30. Ghetto Gastro is adding to its line with the launch of two fall-inspired toaster pastry flavors: sweet potato and brown sugar. The pastries are vegan, formulated with organic roots and grains, non-GMO and include no artificial additives or preservatives. Plant-based whole cuts maker Juicy Marbles has added plant-based Baby Ribs with edible bones to its portfolio. The company said it has been experimenting with its ribs for the past year, selling limited versions of its ribs to its online community but is now offering a retail-ready product. Danone is entering a partnership with Microsoft in order to integrate artificial intelligence throughout its supply chain. The dairy business said the program will include initiatives for its workforce to boost their experience with AI, including the use of predictive forecasting and real-time adjustments to streamline its operations. Siddhi Capital announced the closing of its second fund today at $135 million; the new vehicle marks the firm’s shift from startup to growth equity stage investments and a broadening beyond food and beverage. brekki has expanded its portfolio of ready-to-eat oats with two new flavors: Lemon and Choco Coconut. Plant-based milk and creamer producer Elmhurst® 1925 has made its first foray into the plant-based meat set with its single-ingredient chicken alternative, TerraMeat Plant-Based Chick’n. The new ambient product is made with hemp protein and has 26 grams of protein per serving.

Here's what's up in the #cpgindustry this week: Adult non-alc retailer Boisson is filing for bankruptcy protection, citing financial challenges amidst an “overly aggressive expansion plan” and the “inefficient deployment of capital.” Hemp-based beverage brand Flyers Cocktail Co has closed a Series Seed funding round led by cannabis-focused investment firm Delta Emerald Ventures. Liquid Death has introduced a new 12 oz. Shorty Can format available in Mountain Water Still, Severed Lime Sparkling and Mango Chainsaw Sparkling varieties. Each can contains 7.2 oz. less liquid than the brand’s king-size tallboys. Aplós has announced the launch of Aplos Cocktails, a new line of ready-to-drink (RTD) canned non-alcoholic cocktails. The line debuts with two flavors: Ume Spritz and Chili Margarita. Hain Celestial Group has sold cookie brand Thinsters to Icee and Dippin’ Dots owner J&J Snack Foods Corp in an all-cash transaction. Terms of the deal were not disclosed. The sale aligns with Hain’s previously announced plans to refocus the company’s portfolio of better-for-you brands across five growth categories: snacks, baby and kids’ food, beverages, meal preparation, and personal care. Yasso, Inc. has expanded its lineup of frozen yogurt treats with the addition of Strawberries & Cream Bars, Creamy Mango Bars, and Strawberry Chocolate Crunch Bars. Amy's Kitchen has introduced two new entrees: Penne with Mushrooms & Spinach Bowl and Mole Enchiladas. Barilla Group-owned Tolerant Foods, the maker of organic legume-based pasta products, announced that it has closed its doors and will begin winding down the brand. Former Starbucks CEO Howard Schultz has purchased a 2% stake Tony's Chocolonely. Douglas Lamont, CEO of Tony’s Chocolonely, said that Schultz would allow the chocolate producer to benefit from “his extensive experience of building a global consumer brand and company.” Serenity Kids recently closed a $52 million Series B minority investment and partnership led by Stride Consumer Partners LLC. The Carr’s will maintain ownership and continue to run the company.

Mars continues to expand its footprint into innovative segments, increasing its presence in incremental snacking and eating occasions. The acquisition of Kellanova aligns perfectly with the evolving food industry landscape for several compelling reasons: - Snacking Trend: With people snacking more and having fewer sit-down meals, Mars broadens its reach into popular snack categories like chips and crackers, including well-known brands such as Pringles and Cheez-It. This complements Mars’ existing candy brands, expanding their share of the growing snacking market. - Diversification for Stability: Beyond snacks, this move aims to diversify Mars’ business. Kellanova’s portfolio, featuring plant-based and healthier options, meets the rising demand for better-for-you products. Additionally, Kellanova’s global presence helps Mars penetrate emerging markets, reducing risk and unlocking growth potential. - Innovation and Collaboration: The merger of Mars and Kellanova unlocks exciting possibilities for new product development. The fusion of Mars’ chocolate expertise with Kellanova’s snacking knowledge can lead to innovative offerings tailored to today’s health-conscious consumers. - Cost Efficiency and Market Influence: By uniting, Mars can leverage economies of scale for cost savings and enhance bargaining power with retailers and suppliers. This enables them to offer competitive prices, secure prime shelf space, and enhance product appeal to consumers. - Future Growth Strategy: Mars’ strategic acquisition of Kellanova signals a long-term commitment to dominating the snacking industry. With a steadily growing snacking portfolio, Mars is well-positioned for sustained growth, continuous innovation, and lasting success in an expanding market. Mars’ acquisition of Kellanova strategically fortifies their standing in the snacking realm, positioning them for enduring success and advancement, and yet the question is, will Mars continue to expand also into health and wellness food and snack options too? Thoughts?..

🚨 AN INDUSTRY FIRST🚨 Exciting news from GOOD Meat as they launch their groundbreaking product, Good Meat 3, the first cultivated meat available for retail purchase in Singapore. Priced competitively at SGD 7.20 (~$5.30) for 120g, this innovation combines cultivated chicken with plant proteins, offering the same taste and texture as conventional chicken. With strong consumer demand and support from partners like Huber's Butchery, this milestone marks a significant step forward for the cultivated meat industry, despite challenges faced in other regions. (The Cell Base) https://lnkd.in/ebkyvuku

Global Food Giants JBS and Sigma Alimentos in Bidding War for Oscar Mayer The iconic OSCAR MAYER FOODS brand, known for its hot dogs, cold cuts, and bologna, has sparked fierce competition as Brazilian meat giant JBS and Mexico's Sigma Alimentos Centro, S.A. de C.V. seek to acquire it from Kraft Heinz in a deal expected to reach nearly $3 billion. This potential divestment reflects Kraft Heinz’s ongoing strategy to prioritise healthier products in response to declining consumer interest in processed foods. As Kraft Heinz restructures, Oscar Mayer and other non-core brands have been grouped under its Balance division, which includes cheeses and coffees. The company's CEO, Carlos Abrams-Rivera, is leading this reorganisation to help improve the company’s stock performance, which has underperformed the S&P 500 Packaged Foods & Meats index. Sources indicate that Kraft Heinz is aiming for a valuation of around ten times Oscar Mayer's EBITDA, approximately $290 million, which would bring the sale price close to $3 billion. JBS and Sigma Alimentos are among several potential buyers that have expressed interest in Oscar Mayer, according to insiders familiar with the process. The current bidding battle marks another significant step in JBS's long-term strategy to expand its footprint in the U.S. food market. Known as the world’s largest meatpacker, JBS already controls prominent U.S. brands, including Pilgrim’s Pride and Swift. Owned by Brazilian billionaires Joesley and Wesley Batista Filho through their holding company J&F, JBS is positioning itself to capture more of the lucrative processed meats market. Sigma Alimentos, on the other hand, brings an extensive network in the Americas and Europe as a subsidiary of Mexican conglomerate Alfa. Since 1993, Sigma has distributed Oscar Mayer products in Mexico and offers a wide range of meats, cheeses, yoghurts and other refrigerated goods. Acquiring Oscar Mayer would strengthen Sigma's U.S. presence and expand its portfolio of recognisable brands. The potential sale of Oscar Mayer is part of a broader reshuffling in the consumer-packaged goods (CPG) industry, which has experienced a wave of major acquisitions and divestitures. High price inflation and weight-loss medications have weighed on demand for processed foods, driving companies to reconsider product lines and seek opportunities in higher-demand areas. Kraft Heinz’s reorganisation aims to streamline its focus and adapt to changing market conditions. Despite its household brand recognition, Oscar Mayer has not been immune to these industry-wide shifts. In 2019, Kraft Heinz wrote down the value of its Oscar Mayer and Kraft brands by $15.4 billion as consumer demand softened. Under CEO Carlos Abrams-Rivera, Kraft Heinz is committed to reshaping its portfolio, including Oscar Mayer, to improve the company's financial performance and address market pressures. 

When you build a business around a trend, you run the risk that tastes change or the trend turns out to be a fad. Americans, it turned out, only liked self-serve frozen yogurt so much and that left a lot of people who jumped on that trend holding the bag when demand proved soft. In other cases, people have overestimated demand in areas that do have real followings. Plant-based meat, for example, has its fans, but most fast-food efforts to offer plant-based meat products have failed. These are real trends, but a trend does not necessarily support a business. The same appears to be true of this niche market.

Finland-based food group HKScan is changing its name to HKFoods. #food #foodindustry #foodindustryinsight #foodnews #foodbusiness #foodbusinessnews #foodbusinessowner #foodmanufacturing #foodanddrink #foodandbeverage #foodandbeverages #foodanddrinks #foodanddrinkindustry #foodprices #foodproducts #foodproduction #foodinflation

NOSHscape: The Latest Food Brand News Better-for-you snack platform Our Home is seeking to accelerate growth with the acquisition of ParmCrisps from Hain Celestial Group, which the companies announced on Sept. 3. The deal came just one week after the company acquired Pop Secret from Campbell Soup Company. As part of the transaction, Our Home will add ParmCrisps to its family of brands – which includes Food Should Taste Good, Popchips, Real Food From the Ground Up, You Need This, RW Garcia and Sonoma Creamery– and take over its production facility in York, Pennsylvania. The deal adds complementary manufacturing, innovation and distribution to the platform following its acquisition of Sonoma Creamery earlier this year, according to the company. According to market researcher Grand View Research, the global cheese snacks market size was valued at $64.6 billion in 2021 and is expected to grow at a CAGR of 6.3% between 2022 and 2030. Competitors in the cheese crisp space include Whisps, John Wm. Macy’s and private label products from retailers like Wegman’s and Albertson’s (Open Nature brand). For Hain Celestial, the move further optimizes its product portfolio and streamlines its supply chain to drive greater optimal efficiency and margin expansion. According to a press release, the company will use proceeds from the sale to pay down its debt. #food #beverage #beverages #foodandbeverages #needs #dailyneeds #products #business #businessunits #drinks #restaurant #culinary #hospitality https://lnkd.in/gyVNckfX

A lack of production capacity meant The J.M. Smucker Co. had to hold its Uncrustables brand back. But with the completion of its third dedicated Uncrustables plant in McCalla, Ala., the company is set to unleash Uncrustables and extend the brand well beyond the traditional supermarket’s frozen food aisle. https://ow.ly/Z1xS50UtIP2 #uncrustables #foodindustry

The team at Triton attended IDDBA last week and sincerely enjoyed spending time with the sponsors, exhibitors, and business owners who helped make the event such a success.   Key Takeaways: 1. M&A activity continues to tick upwards in the bakery & confection sector. 2. Volume will continue to scale at large private label bakeries and co-manufacturers as private equity makes their splash on the sector. 3. Product Innovation & Partnerships: -Sriracha-infused brioche buns & onion rolls were commonplace. -Sweet flavor profiles such as barbeque and chocolate continue to be blended into the dips and spreads sector; ie – hummus, cannoli chips. Dill pickle was just as popular. -To entice the ever-curious, typically younger consumer, sour flavors are gaining ground; ie – Van Holten's Pickles & Impact Confections, Inc. Warheads-flavored pickle. -Allergen-friendly and inclusive specialty products such as gluten-free and vegan pastries/breads were widespread.