The latest news, trends, analysis, interviews and podcasts from the global food and beverage industry
Finance
Kraft Heinz halts split, commits $600m to brand and commercial reset
Kraft Heinz has paused work on its previously announced separation and will instead deploy $600 million in incremental investment across marketing, sales and R&D.
Heineken to cut up to 6,000 jobs as beer volumes slide in Europe and US
Heineken will cut roughly 7% of its global workforce as Europe’s second-largest brewer moves to protect margins amid continued weakness in beer demand.
US court clears Fresh Del Monte’s $285m bid for Del Monte Foods assets
Fresh Del Monte Produce has received approval from the US Bankruptcy Court to acquire select assets of California-based Del Monte Foods Corporation.
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.
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