US non-alcoholic aperitif company, De Soi, has raised $4 million in a seed funding round led by Willow Growth. The round included participation from entertainment and sports agency, Creative Artists Agency. De Soi will use the capital to expand its retail footprint and bring its products to shelves nationwide. Launched in January 2022, De Soi is a non-alcoholic botanical sparkling beverage that contains natural adaptogens and no refined sugar, and is low in calories. The aperitif comes in three flavours: Golden Hour, made with maca and L-theanine derived from green tea, with notes of citrus, lemongrass and leafy herbs; Purple Lune, an elixir made with ashwagandha and tart cherry, with notes of blackberry nectar, vanilla oak and rose petals; and Champignon Dreams, made with reishi mushroom and passion flower, with notes of summer strawberries, grapefruit and "earth". De Soi co-founder and American singer, Katy Perry, said: “I would define wellness as caring for yourself in the best way you know how without sacrificing life’s simplest pleasures, and that is exactly what we want to offer. De Soi is all about balance – being able to enjoy the evening and the next morning." Morgan McLachlan, who also co-founded the brand, added: "With the trust and support from our team of investors, we’re confident that we can make non-alcoholic beverages an equally indulgent, select choice for drinking”.

Kraft Heinz has reported a 0.9% net sales decline in its second quarter to $6.6 billion, reflecting the impact of divestitures and currency. Meanwhile, on an organic basis, net sales for the quarter grew 10.1%, driven by price increases implemented to mitigate rising input costs. For the three months ended 25 June, operating income decreased by 56.2%. In the North America market, the owner of Philadelphia cream cheese recorded net sales of $5.04 billion, down 3.1% year-over-year. The company’s international segment grew its revenue by 7.2% to $1.52 billion. "We delivered yet another quarter of strong results as we continue to successfully navigate near-term headwinds, enabled by further advancements of our long-term strategy. Though the environment remains fluid, we are better able to anticipate dynamic conditions, adapt to this constantly changing environment and demonstrate our resiliency against new challenges," said Miguel Patricio, Kraft Heinz CEO. He continued: "We are anticipating and adapting to changing market conditions, while managing inflation through pricing realisation and gross efficiencies. I am very proud of the Kraft Heinz team because, despite all of the challenges, employees across the organisation continue to do a tremendous job." The food giant is raising its expectations for full-year organic net sales growth to a high-single-digit percentage increase, versus its previous forecast of a mid-single-digit percentage increase.

Yili Group subsidiary Westland Milk Products has opened its upgraded butter plant in Hokitika, making it the "largest" butter facility on the west coast of New Zealand. Westland Milk's new facility has doubled the capacity of its consumer and food service offerings to reach up to 42,000 tonnes a year. The upgrade was initially announced in March last year, with a total investment of NZD 40 million (approx. $27.8 million) to increase the company's butter production capacity. The project aims to provide global consumers with a taste for Westgold, one of Westland Milk's butter brands, which is available across the US, New Zealand, China, Australia and Japan. Richard Wyeth, Westland Milk's CEO, said: "The original butter plant built in 1973 has now made way for a purpose-built facility that allows us to double our capacity of small-format butter pats with modern, state-of-the-art machinery that still holds true to our traditional churn methods".

Azkoyen Group has acquired Spanish coffee machine company, Ascaso, for €17 million. Based in Barcelona, Ascaso manufactures traditional espresso machines, distributing its products in international markets, including the UK, US, Europe and Southeast Asia. The acquisition will build on Azkoyen's existing leadership position in the office coffee service, HoReCa and vending segments, and will also complete Azkoyen's range of automatic and semi-automatic coffee machines. Ascaso's production centre in Gavá, Barcelona, will be added to Azkoyen's facilities, which include sites in the UK, Spain and Colombia. Juan José Suárez, chairman of the Azkoyen Group, said: “The acquisition of Ascaso provides us with new potential in the premium coffee range, making us a unique player, able to offer our products across all the segments. In addition, Ascaso’s philosophy of product innovation and manufacturing excellence provides us with a new leadership position in the premium coffee segment, from semi-automatic to traditional coffee machines, which already represents a crucial part of our revenues and for which we have very ambitious growth plans." He added: "We believe that Ascaso’s employees and its CEO will bring a wealth of talent to our ranks, and its headquarters in Barcelona, a mecca of design and innovation, will open up numerous opportunities for new product development.”

UK nutritional snack company, Brave, has introduced a new line of high-protein breakfast cereal made from pulses. Super Hoops – which is available in two flavours, original and cinnamon – is made from pea protein, chickpea flour and chicory. The new non-HFSS cereal is said to avoid the glucose spike, by using no sugar and lower carb ingredients. Super Hoops provides 34g of protein, 1.8g of naturally occurring sugars, 15g of fibre and 23g of net carbs per 100g. Amber Fraser, Brave co-founder, said: “The glucose revolution is here, and consumers are more aware than ever about the importance of balancing our blood sugar. Delivering a cereal that tastes this indulgent while avoiding the glucose spike is game-changing for our health." Seb Sokol, co-founder of Brave, added: “When we looked at the category, the choice for consumers was between traditional child-focused options with minimal nutritional value, or dull health-focused products with little flavour and lacking excitement". “There have been a few entrants into this space recently, but as a point of differentiation, we built our proposition and price point with retail in mind since day one. There’s a huge demand for a premium healthy, zero-sugar cereal, so we know Super Hoops will add tremendous value.” Super Hoops will be available at Whole Foods and Planet Organic from next month for an RRP of £4.75 per 245g box.

The Coca-Cola Company has reported a 12% rise in second-quarter net revenue to $11.3 billion, after its results were boosted by price hikes. The drinks giant recorded organic revenue growth of 16%, which included 12% growth in price/mix – in part reflecting pricing actions. Meanwhile, the company – which owns major beverage brands such as Coca-Cola, Sprite and VitaminWater – said that its operating income declined 22% in the quarter. Currency headwinds and items impacting comparability were both responsible for the fall. Unit case volume, a key indicator of demand, grew 8%, with broad-based growth across all operating segments. Continued recovery in away-from-home channels helped drive volume performance, and growth in developed markets was led by Mexico, Western Europe and the US, while growth in developing and emerging markets was led by India and Brazil. In Q2, unit case volume of sparkling soft drinks grew 8%, with growth across all geographic operating segments. Meanwhile, nutrition, juice, dairy and plant-based beverages grew 6%, led by Maaza in India, Del Valle in Latin America and Fairlife in the US. Hydration, sports, coffee and tea saw unit case volume grow 7%. Coffee grew 15%, primarily driven by cycling the impact of Costa retail store closures in the UK and continued expansion of Costa coffee globally. Sports drinks grew 7%, mainly on the strength of the performances of Bodyarmor and Powerade. “Our results this quarter reflect the agility of our business, the strength of our streamlined portfolio of brands, and the actions we’ve taken to execute for growth in the face of challenges in the operating and macroeconomic environment,” said The Coca-Cola Company's CEO and chairman, James Quincey. The company says it now expects to deliver full-year organic revenue growth in the region of 12% to 13%, up from its previous guidance of 7-8% growth.

US paper products company, Sofi Products, has announced the release of what it claims is the first 100% biodegradable cup. Sofi Cold Cup is described as a "foldable, plastic-free and bioplastic-free cup" that will naturally decompose within 180 days in landfill, soil or marine environments. The new product features four "flaps" that fold to form a spill-proof lid. Sofi's co-founder, Brandon Leeds, said: "There are no cups currently on the market that are 100% biodegradable and eliminate the need for a plastic lid. Until now, all cups — even those that say 'compostable' — must either be sent to a composting facility or recycled. Both rarely occur, and cups end up in landfills where they will take decades to biodegrade. If the Sofi Cold Cup ends up in the ocean or a landfill, it will be gone in under 180 days. This product is made to be unmade." Sofi's co-founder, Jordan Leeds, added: "All of our products are made with real paper and without buzzwords. They're the type of compostable that doesn't require a special separate facility. And they are the type of biodegradable that you learned about in science class: Just put it in the ground, and it goes away in less than 180 days."

General Mills is adding to its Cinnamon Toast Crunch portfolio with the release of its new CinnaFuego Toast Crunch cereal. The CinnaFuegoToast Crunch offering consists of a sweet cinnamon flavour (Cinnadust) combined with added spicy pepper flavouring. Mindy Murray, General Mills Sr. marketing communications manager, commented: "CTC is always looking to give our fans the most absurd and exciting experiences. So when we were thinking about what to do next, we realised snack time was a moment that could be spiced up. We can’t wait for CTC lovers to try CinnaFuego, and if they dare, eat it with some milk for breakfast." The spicy cereal release drops online exclusively on Walmart from the 12 August for a limited time only.

Mondelēz International has posted a 9.5% increase in second-quarter sales and raised its full-year outlook for organic net revenue growth. The owner of Toblerone and Oreo reported revenue of $7.27 billion in Q2, compared with the $6.64 billion figure recorded in the prior-year period. Organic net revenue growth stood at 13.1%. The company continued its efforts to accelerate its core business and reshape its portfolio, announcing an agreement to acquire snack bar company Clif Bar during the quarter. In Q2, the snacks giant recorded net revenue growth of 22.4% for its emerging markets business. Meanwhile, the company’s developed markets posted net revenue growth of 2.7%. In Europe, Mondelēz witnessed a 6.1% increase in sales to $2.63 billion, while its North America region saw 9.3% growth to $2.24 billion. In Latin America, the company’s second-quarter revenue grew 30.9% to $876 million, whereas its Asia, Middle East & Africa net revenue stood at $1.54 billion, representing a 5.7% increase. Dirk Van de Put, Mondelēz's chairman and CEO, said: "Our chocolate and biscuit businesses continue to demonstrate strong volume growth and pricing resilience across both developed and emerging markets. These results combined with ongoing cost discipline, simplification and revenue growth management are delivering robust profit dollar growth and strong cash flow, enabling us to increase our dividend by 10%." He added: "We also continue to execute against our strategy of accelerating our core business while reshaping our portfolio, most recently with our agreement to acquire Clif Bar, a leader in high-growth, wellbeing snack bars, creating a $1 billion-plus snack bar business. Clif Bar has the leading position in the US protein and nutrition segments with clear opportunities to expand domestic and international distribution, velocities and profitability to create significant value for our shareholders in the years to come." Mondelēz has raised its organic net revenue growth outlook for the full year to 8%.

Kingsland Drinks Group has partnered with Manchester Still to install a new fermentation and distillation facility adjacent to its site in Irlam, Salford. Up and running this month, the facility gives Kingsland Drinks Group and sister company, Ten Locks, the ability to produce artisan spirits, and will also be the manufacturing site for Manchester Still’s premium brands – which offer spiced, coconut and white rums. Manchester Still and Kingsland are planning a pipeline of spirits NPD, with a new release from Ten Locks expected this summer. According to a Kingsland spokesperson, "the project is one part of a multimillion-pound investment in recent years in infrastructure and capabilities". Andy Sagar, chairman of Kingsland Drinks Group, commented: “The partnership realises a desire we’ve had for some time – to create world-class spirits on home turf and present a true full-service offering to the industry. We’re proudly creating crafts spirits shoulder to shoulder with Manchester Still. This is the coming together of two northern companies ready to firmly cement Greater Manchester’s growing reputation as a hive of innovation in the drinks industry."

Nestlé has opened a $340 million Nescafé coffee facility in Veracruz, Mexico, creating 1,200 new jobs in the region. The food and beverage giant says that the new factory uses green energy to reduce water and energy consumption. The plant also uses wastewater treatment systems to ensure 100% water re-circulation, zero wastewater discharges and zero waste to landfills. According to Nestlé, the facility is also equipped with a biomass boiler that will use the biological waste from the coffee process to generate energy. Fausto Costa, executive president of Nestlé Mexico, said: "The coffee factory is one of the most technologically advanced in the world and our company's most modern and sustainable coffee plant. At Nestlé, sustainability is a fundamental pillar of our purpose, and we are committed to taking actions that have a positive impact on our planet."

Canadian superfood company, Blume, has secured CAD 2 million (approx. $1.6 million) in an oversubscribed capital raise. The company plans to use the funds to further expand in the US market, grow its team and host in-person, community-building events. Founded in 2017, Blume is a superfood brand that offers locally made products with natural and organic ingredients, such as turmeric, reishi and more. Over the past year, Blume says that it has scaled its team to 12 employees and landed in all Whole Foods locations across Canada. The round included participation from Fulmer & Co; Judy Brooks, executive chairman of SmartSweets; Mike Fata, founder of Manitoba Harvest; and others. Karen Danudjaja, co-founder of Blume, said: "We originally set out to raise CAD 1.25 million and we're thrilled to have surpassed our goal within a five-week period, while in an extremely challenging economic climate for raising capital. With less than 3% of funding going to female-led businesses, we're proud to have secured capital from a group of investors that is nearly 50% women and includes notable CPG leaders." She continued: "Now we are excited to strategically utilise this new capital to further Blume's momentum in the market and build a company that is value-driven and focused on the needs and wants of our community".