The latest news, trends, analysis, interviews and podcasts from the global food and beverage industry
Finance
Willie Nelson’s THC beverage brand raises $15 million to fuel US retail expansion
Willie’s Remedy+ has raised $15m in a funding round to support a US retail rollout, as THC-infused drinks gain traction with mainstream consumers.
Carlsberg to exit Tibet joint venture, selling stake in Lhasa Brewery
Carlsberg has agreed to sell its 50% non-controlling stake in Lhasa Brewery to its local joint venture partner, Tibet Development.
Once Upon a Farm files for IPO as organic kids’ food market heats up
Jennifer Garner’s Once Upon a Farm launches IPO roadshow, targeting $764M valuation to expand amid rising demand for organic kids’ foods.
Beyond Meat hit with shareholder class action over alleged disclosure failures
Beyond Meat shareholders have launched legal action against the US plant-based meat producer, alleging the company has withheld key information.
ADM settles SEC probe for $40m as US prosecutors close accounting investigation
ADM has agreed to pay $40 million to settle a US Securities and Exchange Commission investigation into how it reported sales between business units.
FoodNerd raises $7.5m to reimagine the toddler snack aisle
FoodNerd, a Buffalo-based food startup focused on nutrient-dense snacks for toddlers, has closed a $7.5 million Series Seed round led by Selva Ventures.
Mars fraud case exposes risks in commodity and export credit programmes
A former Mars risk manager has been jailed for over five years after defrauding the confectionery group of $28m via export credits and weak internal controls.
VFC Foods and Meatless Farm split from Vegan Food Group
UK-based plant-based food company VFC Foods, which owns Meatless Farm, is separating from the Vegan Food Group (VFG), formed just two years ago.
Berkshire Hathaway signals possible exit from Kraft Heinz stake as company prepares for breakup
Berkshire Hathaway may be preparing to unwind its long-standing investment in Kraft Heinz, signalling a potential turning point for one of the food industry’s most closely watched ownership relationships.
Atlantic Beef Products secures $1.63m federal investment to expand halal processing capacity
Atlantic Beef Products (ABPI) is set to enhance its halal beef processing capabilities following a federal investment of up to CAD 2.26 million (approx. $1.63 million) through Canada’s Kosher and Halal Investment Programme.
Meatable to wind down operations as funding efforts fall short
Dutch cultivated meat company Meatable is ceasing operations and will dissolve its legal entity after failing to secure continued funding.
AB InBev to shut two US factories and sell another to consolidate operations
Anheuser-Busch InBev has confirmed plans to close two US breweries and offload another, stating that the decision means it can ‘invest more in remaining operations.’ The company is shutting facilities in Fairfield, California and Merrimack, New Hampshire, while its brewery in Newark, New Jersey, will be sold to a property business, Goodman Group. A spokesperson for AB InBev said: “Over the last five years we have taken steps to update and modernise our US manufacturing operations, investing...
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