Springworks Farm has raised $22 million through a combination of equity and debt as it looks to fund the construction of its fourth and largest aquaponic greenhouse. The new greenhouse will expand its operations by 120,000 square feet and will create 40 new jobs in the state of Maine. The raise marks phase one of Springworks' plans to build 500,000 square feet of greenhouse space over the next six years. The company uses aquaponics – "a recirculating ecosystem that combines fish and plants" – to grow its fresh produce, which includes organic bibb, romaine and green leaf lettuce. Upon completion of the fourth greenhouse, Springworks says it will produce around 5 million heads of lettuce and 315,00lbs of tilapia annually. The development will also help the company to meet the increasing demand for local and sustainably grown produce. Trevor Kenkel, who founded Springworks in 2014 at the age of 19, said: “Regional agriculture is core to the sustainable future we want to help build. By delivering organic greens to customers faster, we are able to cut food waste and improve quality.” Karin Gregory, who led the investment for Blue Highway Capital, added: "We first met the Springworks team in 2021 and began to follow their progress. We look in rural areas for companies with strong management teams in sectors positioned for growth and are pleased to have participated in this financing with Farm Credit East."

The Ferrero Group is acquiring Italian frozen bakery company, Fresystem, for an undisclosed amount. The company, which closed 2021 with a turnover of €60 million, operates in Italy through a production hub in Caivano, Naples. It produces and distributes Cupiello-branded items and operates as a third-party manufacturer. Ferrero says that the acquisition is part of its strategic growth plan in the sweet frozen bakery market. Fresystem's Caivano plant becomes Ferrero's second production centre in Campania, joining its facility in Sant'Angelo dei Lombardi in the province of Avellino. The transaction is expected to close in the coming months.

Bacardi and Shawn Carter – known professionally as American rapper Jay-Z – have jointly announced a long-term agreement that renews their partnership with premium cognac brand, D'Ussé. In 2012, Carter's company SCLiquor and a subsidiary of Bacardi partnered to launch D'Ussé Cognac and had been 50/50 equal owners prior to this acquisition. According to Bloomberg, Bacardi has now bought out the majority of SCLiquor's stake in D'Ussé, leaving the spirits giant with 75.01% of the business, with Carter retaining a significant share in the brand. Carter commented: “The next phase of this journey will further cement D'Ussé's legacy as one of the world's most respected brands. I am excited to renew this partnership with Bacardi." The acquisition follows an approximately $2.5 billion lawsuit brought by SCLiquor in October 2022. In a court document made public by Bloomberg Law, SCLiquor sought internal files from D’Ussé, managed by Bacardi subsidiary Empire Investments, to investigate "Empire’s failings by exercising its statutory and common law rights to demand information from D’Ussé". The document continued: "SC has made repeated demands for D’Ussé’s books and records, the most recent of which was served on 3 October 2022...D’Ussé has not responded to SC’s information requests.” The litigation involved four cases in two courts and an arbitration proceeding, according to Bloomberg Law. It stemmed from the rapper’s demand that the company either exited the joint venture or buy out his 50% stake. Further details of the acquisition were not disclosed.

Tyson Foods has recorded net income of $316 million for the first quarter, which ended on 31 December. Despite revenue growth of 2.5% to $13.26 billion, the company was negatively affected by an 8.5% decline in beef prices. Sales volumes for pork fell by 7.4%. Adjusted operating income declined 68% to $453 million, and adjusted EPS fell 70%. According to Reuters, greater-than-expected domestic supplies of beef weakened demand for Tyson's chicken. The company reportedly failed to forecast the amount of protein on the market, as drought in the western US prompted ranchers to reduce cattle herds by sending more animals to slaughter. Meanwhile, an outbreak of bird flu that triggered export restrictions resulted in a larger-than-expected national supply of chicken. Reuters cites Tyson CEO Donnie King, who told analysts on a call that meatpacking executives had expected that chicken would need to fill a projected gap in meat supplies caused by reduced production of beef and pork. In the company's Q1 earnings release, King said: “We executed our strategy in Q1, growing volume, improving staffing levels, investing in automation and building inventory to meet customer demand, all while maintaining a focus on liquidity and financial health. The strength of our retail brands, including Tyson, Jimmy Dean, Hillshire Farm and Ball Park, was demonstrated by the growth in prepared foods, most notably with Jimmy Dean ending the quarter at its all-time highest volume share.” He continued: “We faced some challenges in the first quarter. Market dynamics and some operational inefficiencies impacted our profitability. We expect to improve our performance through the back half of fiscal 2023 and into the future, as we strive to execute with excellence and work to become best in class in our industry.” Tyson expects full-year sales to be between $55 billion and $57 billion.

Beneo discusses their latest innovations with FoodBev. Phoebe Fraser talks with Pierre Donck to discuss Beneo's plans for 2023.

Princes has launched a new range of squash inspired by confectionery brand Swizzels. Flavours in the Swizzels squash range include Drumstick, Love Hearts and Parma Violets, two Refreshers flavours, Lemon and Sour Apple, and two Squashies flavours, Bubblegum and Sour Cherry & Apple. The range has no added sugar and each one litre bottle of Swizzels squash contains real fruit, no artificial colours or flavours and is less than five calories per serving. Each bottle is sold at an RRP of £1.25 and provides 20 servings per bottle. David Boyle, head of Commercial Drinks at Princes, said: “At Princes, we are constantly keeping an avid eye on the market and recently spotted a gap for a sweet confectionery range of squash which would appeal to the whole family". He continued: “Swizzels, with its well-established heritage, years of experience and family appeal, made for the perfect choice. We’re proud to have created an exciting range of squash which delivers across taste, convenience and value.” The Swizzels squash range is available at selected UK retailers.

Pladis has launched a new nut butter-filled snack bar range in the UK, called Wholistic. The on-the-go bars come in two flavours – Wholistic peanut, dark chocolate & sea salt and Wholistic almond & raspberry – and are aimed at health-conscious consumers that want to support overall wellbeing without compromising taste. In addition to the nut butter centre, each bar features ingredients such as nuts, dried raspberry pieces, roasted cocoa nibs and date paste. The ingredients have been cold-pressed and are all plant-based. Asli Akman, health and wellness director – pladis UK&I, said: "Cold press bars are really popular right now and our new Wholistic snack bar range, which also includes a delicious, smooth nut butter centre, is destined to turn the healthier biscuits category on its head”. The Wholistic range also contains additional health benefits, targeting the fast-growing immune and digestive health space. Wholistic peanut, dark chocolate & sea salt features chicory root fibre; while Wholistic almond & raspberry contains added zinc and iron.

Pladis has launched a new nut butter-filled snack bar range in the UK, called Wholistic. The on-the-go bars come in two flavours – Wholistic peanut, dark chocolate & sea salt and Wholistic almond & raspberry – and are aimed at health-conscious consumers that want to support overall wellbeing without compromising taste. In addition to the nut butter centre, each bar features ingredients such as nuts, dried raspberry pieces, roasted cocoa nibs and date paste. The ingredients have been cold-pressed and are all plant-based. Asli Akman, health and wellness director – pladis UK&I, said: "Cold press bars are really popular right now and our new Wholistic snack bar range, which also includes a delicious, smooth nut butter centre, is destined to turn the healthier biscuits category on its head”. The Wholistic range also contains additional health benefits, targeting the fast-growing immune and digestive health space. Wholistic peanut, dark chocolate & sea salt features chicory root fibre; while Wholistic almond & raspberry contains added zinc and iron.

Post Consumer Brands, a business unit of Post Holdings, has transformed its popular Honey Bunches of Oats cereal into granola chip form. The on-the-go chips are available in two flavours: honey roasted and blueberry. According to the company, the Honey Bunches of Oats Granola Chips can be dipped in yogurt or topped with nut butters or spreads. Last year, Post introduced three new cereal offerings to its Pebbles lineup in the US.

Danone has officially opened its new Daniel Carasso research and innovation centre for the advancement of nutrition on the Paris-Saclay university campus in France. The inauguration was led by Danone CEO, Antoine de Saint-Affrique, in the presence of the French prime minister, Elisabeth Borne. The aim of the centre is to "bring health through food to as many people as possible". The centre will focus on the development and innovation of fresh dairy and plant-based products, and natural mineral water. The facility will include laboratories, pilot production sites and limited production for specific prototypes. The site currently employs 550 people, including researchers in the life sciences, fermentation ad intestinal microbiota, nutrition and health sectors, as well as specialists in consumer experience, social sciences, and product design, packaging and pilot-scale production. It has also been constructed with sustainability in mind, featuring wooden frames, photovoltaic panels, geothermal heating and cooling, and a water recovery system. The building consists of five levels, which envelop a large central atrium, called the Plaza. During the opening, the company also unveiled a new product – an exclusive development for the Paris 2024 Olympic and Paralympic Games – called HiPro Expert. HiPro Expert is an "original recipe" yogurt product developed by the centre's researchers in collaboration with athletes. Danone says the yogurt is rich in proteins, a source of vitamins and minerals, with the "same taste and texture that consumes have come to love". Saint-Affrique commented: “Danone is a unique company: unique in its roots, anchored in a dual entrepreneurial and sustainable project; unique in its mission to bring health through food to as many people as possible; unique in its ability to innovate and reinvent itself; but above all, unique in the passion of the Danoners who carry and embody this mission every day and incarnate the 'dual project' daily. He continued: "Driven by this pioneering spirit, our ‘Renew Danone’ strategic plan puts science and technology back at the centre of innovation, making them key growth drivers for the company. Better serving increasingly diverse consumers and patients, and doing so in a more sustainable and innovative way, is a conundrum where we need science and research more than ever to find solutions.” Isabelle Esser, executive VP of research, innovation, quality and food safety at Danone, said: “Enabling consumers to make appropriate food choices while innovating to meet the needs associated with physical and mental well-being is our priority". She added: "This is achieved mainly through our diversified portfolio of products, which address various nutritional needs without compromising taste or quality. Our ambition for this site is to continue to honour our mission while staying one step ahead of the trends that will shape the food of tomorrow." You may also like to read: Danone eyes exit from US organic dairy businesses Danone introduces global energy excellence programme Danone unveils plan to cut methane emissions

Tillamook County Creamery Association (TCCA) has added two aged cheddars to its Maker’s Reserve portfolio. Every year, TCCA releases a 10-year and three-year aged extra sharp white cheddar into its line of Maker's Reserve cheeses. Tillamook Maker's Reserve 2013 gives hints of sweet cream and rich buttery brioche, and notes of toasted nuts. The 10-year vintage cheese has a flaky texture with big crystals. Meanwhile, Tillamook Maker's Reserve 2020 features notes of woodsy wild mushrooms and crispy dark bread. "Our Maker's Reserve Cheddars reflect an outstanding recipe, unusually good ingredients, and of course, the all-important factor…time," said Jill Allen, director of product excellence at TCCA. "It is truly a special cheddar that ages and transforms into a unique tasting experience. Just as special as these vintages are the people making them – a team that uses pride, passion, and patience to produce award-winning cheeses with an unforgettable flavor, year after year." The 2013 and 2020 vintage cheeses will be available at Tillamook's website, while the 2013 vintage will also be sold exclusively at Whole Foods Market stores across the US from this month.

US labelling solutions provider, Brook + Whittle, has announced its agreement to purchase Ohio-based LLT Labels. LLT Labels aids companies seeking label solutions, including custom direct thermal labels, thermal transfer labels and ribbons, industrial labels and other custom labels. LLT Labels' specialities will join Brook + Whittle’s portfolio of pressure-sensitive labels, shrink sleeves, heat transfer labels and flexible packaging. Executive VP at Brook + Whittle, Andy Johnson, said: "The addition of LLT Labels will strengthen our platform and deliver value for our customers. LLT Labels is known for their exceptional customer service, focus on print quality, and talented workforce. Furthermore, the custom label products that LLT Labels produces will expand Brook + Whittle's product offering, particularly in the custom warehouse and shipping label category." The news follows Brook + Whittle’s acquisition of Cenveo’s custom labels group in April last year. Financial terms of the deal were not disclosed.