The latest news, trends, analysis, interviews and podcasts from the global food and beverage industry
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- Audax Private Equity sells Stonewall Kitchen to TA Associates
US condiment producer Stonewall Kitchen – a portfolio company of Audax Private Equity – has been acquired by TA Associates. Stonewall Kitchen produces own-brand flavoured jams and lemon curd, as well as organic apple sauce and apple cider vinegars under its Vermont Village brand. The company also produces globally-inspired spice mixes, seasonings and sauces under its Urban Accents brand. John Stiker, CEO of Stonewall Kitchen, commented: "This has been an exciting few years at Stonewall Kitchen, as we have evolved from a standalone brand to a true family of brands in speciality food and home goods. Partnering with TA provides us with even greater support to continue this evolution as a leader in the industry and we’re thrilled that they combine a network of global resources with a New England heritage." The investment will accelerate Stonewall Kitchen's continued expansion in North America, as well as its new product development.
- Plantish raises $12.5m in seed funding round
Israeli alternative seafood start-up, Plantish, has raised $12.5 million in a seed funding round to boost the production of its plant-based, whole-cut salmon fillets. The round was led by State Of Mind Ventures, with participation from Pitango Health Tech, Unovis and TechAviv Founder Partners, among others. The company says this investment represents the largest seed round in the alternative seafood market. Founded in 2021, Plantish has developed a manufacturing technology aimed at producing plant-based, whole-cut fish alternatives that replicate the taste, texture and nutrition of conventional salmon. The funds will enable the company to carry out further R&D to accelerate product development, with hopes to enter the foodservice sector. Plantish's CEO and co-founder, Ofek Ron, said: “We’ve already seen it happen in the meat market, now it’s the time for fish. And in particular, salmon, which accounts for $50 billion in the half a trillion dollar seafood market. The problem has been that fish is so difficult to replicate until now.” He continued: “We understand that over 60% of seafood is eaten outside the home, and salmon is among the most popular fish and animal protein in the world. Therefore we are focusing our efforts on the foodservice route and you can expect to see us in fine dining restaurants within the next two years.” Plantish salmon will be available in pop-up locations later in the year, officially launching in restaurants nationwide in 2024.
- Mars introduces new Kind snack bar flavour
Mars-owned snack bar manufacturer Kind has expanded its protein product range in the UK with the introduction of a new flavour. Hazelnut Dark Chocolate contains 12g of plant-based protein per 50g bar and features the brand’s nut-based whole food ingredients. The new bar is also low in sugar, gluten-free, high in fibre and contain "heart-healthy" fats. Audrey Arbeeny, Kind's UK marketing director, said: “We’re so excited to be adding a new variant to our trio of tasty plant-based protein bars. The range has been so popular and we believe there remains to be a huge opportunity in this category here in the UK." She continued: "Not only are we seeing the functional health trend continue, but people are still on the lookout for convenient products that deliver on both taste and nutritional value". Kind's Hazelnut Dark Chocolate snack bar is available at retailers and wholesalers nationwide for an RRP of £2 per 50g bar.
- Richmond debuts in snacking sector with Minis range
Pilgrim’s Food Masters-owned brand Richmond has launched its Richmond Minis sausage range, in a move to expand into the snacking industry. The miniature variants have the same seasoning as the brand's original pork sausages and can be oven-baked. Chris Doe, marketing manager at Richmond, said: "We’ve been making sausages for over 130 years and we’ve put all our sausage expertise into launching our Richmond Minis. In a blind taste test with consumers, our Richmond Minis were an instant hit, with a superior taste that was recognisably Richmond". He continued: "We know that fundamentally Richmond shoppers love our sausages, so it makes sense that our debut in the snacking category is with a ready-to-eat pork sausage. We are confident Richmond Minis are going to be a hit with families across the nation". The new release will be launched in three formats, including a 225g grazing tray, 90g grab bag and 63g meal deal. These will be will be available in Asda on 21 March with further roll-out nationwide from May.
- Goode Partners announces a $30m investment in Jocko Fuel
US private equity firm Goode Partners has announced a $30 million minority investment in active nutrition company Jocko Fuel. Based in Jay, Maine, Jocko offers a broad range of performance products, including energy drinks, as well as protein and other sports nutrition powders, and supplements in capsule form. Jocko Fuel is named after Jocko Willink, a retired Navy SEAL officer and entrepreneur who helped conceptualise the brand. “The strategic investment from Goode Partners validates Jocko Fuel's track record of significant growth and will help enable the emergence of Jocko Fuel products as the better alternative for conscious consumers and as a household name,” said Pete Roberts, co-founder and CEO of Jocko Fuel. “Goode has extensive experience partnering with high-growth consumer brands and we are glad to have found a strategic partner who believes in our core mission to provide clean, natural and functional products to our loyal and rapidly growing customer base.” Goode Partners has previously invested in a number of food and beverage brands, including Strong Roots and La Colombe. Jocko Willink added: “Dave and the team at Goode Partners will give us the ability to grow our product line, refine our logistics and reach people that need our products, but who haven't heard of us yet”.
- Cargill to invest $5m to expand Infuse line in META
Cargill Turkey has opened a technical application centre and ingredient production plant in Orhangazi, Bursa, in a move to help dairy manufacturers better respond to evolving consumer demands. The food giant is investing $5 million to expand its Infuse service offering model, while its new facility will serve as a regional innovation hub to support dairy customers throughout the Middle East, Turkey and Africa (META). The centre features pilot facilities that mimic full-scale dairy processing production lines. Cargill says its aim is to meet META dairy manufacturers' needs, such as offering affordable products to market or solving supply chain hurdles by offering customised blends. Infuse by Cargill was first established in Europe in 2020 and delivers blended ingredient solutions – for example, nutritional balance, plant-based and label-friendliness – to speed up development and innovation cycles. Cem Beysel, Cargill Foods META executive committee member and chief product and marketing officer, said: "With this investment in Bursa, Orhangazi, we will serve our customers as if this place is their own R&D centre. The application centre offers manufacturers texturising blends. Mixtures, which are used in very low quantities in order to ensure the fluidity, aftertaste, rough and/or smoothness of the foods, meet the special needs of the customers while creating the advantage of speed and low cost."
- Louis Dreyfus enters plant protein market with new R&D facility
Louis Dreyfus has announced the inauguration of a new R&D facility in the US, as the company makes its foray into the plant protein market. The R&D plant protein centre, which is located in San Francisco Bay, California, is part of the company's commitment "to help shape a strong and sustainable food system". Michael Gelchie, Louis Dreyfus CEO, said: “As part of our strategic growth plans to move further downstream and diversify revenue through more value-added products, we see an opportunity to participate in the rapidly-growing plant-based foods market through plant protein extraction and food and beverage application formulation, leveraging our existing origination and industrial capabilities”. Louis Dreyfus' chief strategy officer, Thomas Couteaudier, added: “Louis Dreyfus' Plant Proteins business aspires to be the partner of choice for food companies and innovative brands who wish to incorporate more sustainable proteins in their products. He continued: "We will enter the market with the first range of non-GMO plant protein isolates by the end of 2022, with an initial focus on North America, aiming ultimately to offer global customers a multipurpose portfolio of products and application solutions”. Manoj Kumar, Louis Dreyfus VP for plant proteins at Louis Dreyfus, said: “The facility inaugurated today is a critical foundation for the new business, supporting its R&D and commercial programme. It will serve as a laboratory and pilot plant to develop products, validate their technical and commercial value, and build know-how for future applications.”
- Core Foods unveils new Core Keto Bars flavour
Core Foods is expanding its refrigerated keto bars portfolio in the US with the introduction of a new flavour. Core Keto's Chocolate Chip Cookie Dough is made with 100% plant-based ingredients, containing 3g of net carbs and no added sugar. The new flavour is packed with 6g of protein and 8g of prebiotic fibre, as well as being certified keto, non-GMO project verified and gluten-free. "At Core Foods, we know that wellness starts with the core, and we want to be able to offer a delicious, gut-healthy option for everyone, including those who are following keto or are just carb-conscious," said Brett Hartmann, CEO of Core Foods. "With consumers continuing to seek out low-sugar and low-carb options, we are excited to expand our line of Core Keto Bars with our newest flavour, Chocolate Chip Cookie Dough." Core Keto's Chocolate Chip Cookie Dough Bars are available at select Walmart and Vons stores nationwide.
- Bridor and The Laughing Cow launch new ready-to-bake Cheese Lattice
French bakery manufacturer Bridor has collaborated with cheese producer The Laughing Cow to launch a new ready-to-bake Cheese Lattice. Cheese Lattice is made with Bridor's pure butter croissant dough and is filled with The Laughing Cow’s creamy cheese. Erwan Inizan, UK sales sirector at Bridor, said: “Snacking is becoming more widespread for consumers worldwide, so we are pleased to have launched a product with The Laughing Cow that caters towards this trend". He continued: "Providing high-quality products to as many people as possible is something that is high on our agenda and this new launch does exactly that, whilst also addressing consumer’s needs for more snack-based items on shelf”.
- Clean Crop raises $6m in Series A funding round
Clean Crop Technologies has raised $6 million in a Series A funding round led by ReGen Ventures, Trailhead Capital and the MassMutual Catalyst Fund. The round also included participation from existing and new investors, including Prime Impact Fund, Innova Memphis, Active Impact and DC Thomson Capital, among others. Founded in 2019, Clean Crop uses electricity to decarbonise the way food is grown. The company has developed a high voltage catalyst technology that can boost yields, improve food safety and reduce food waste in a wide range of food categories, including nuts, seeds, fruits and vegetables, meats and seafood. Dan Fitzgerald, managing partner at ReGen Ventures, said: "Clean Crop has a unique opportunity to catalyse a paradigm shift by deploying its technology that massively reduces waste, dramatically improves food safety while preserving the fundamental goodness of produce". Clean Crop plans to use the funds to continue scaling and commercialising its core technology across the supply chain.
- Archroma launches odour-free packaging solution
Speciality chemicals company, Archroma, has launched its Cartaseal VWAF barrier coating for odour-free packaging applications. The Cartaseal range offers barrier solutions that can be used to protect food packaging from grease, oils, water and water vapour. Archroma's expansion of its range features Cartaseal VWAF. The odour-free product is designed to form a film-like coating on the paper surface. The barrier solution withstands penetration from oils, fats, water and vapour. The barrier is ideal for applications such as pizza boxes, sandwich wedges, fresh vegetables, fast food service and general supermarket packaging. The new release can used as a sustainable alternative to replace PFC-based coatings and plastic in applications. It is also ammonia-free. Andy Bell, head of the Competence Centre Chemicals at Archroma, commented: "Consumers and regulators are increasingly attentive to how products are made, and rightfully so. It is our responsibility as an industry to develop and convert to technologies that reduce our impact on the environment and on people's health. That is exactly what we at Archroma do, with innovations like Cartaseal VWAF. Because it’s our nature."
- Soul Fruit expands tropical dried fruit snack range
UK sustainable snack brand, Soul Fruit, has expanded its tropical dried fruit snack range with the release of three new products. The new products include Jackfruit Chips, Keo Mango Chips and Soft Dried Keo Mango. The all-natural snacks are made from 100% fruit with no added sugar or additives and are low in calories, fat and contain antioxidants. They're also vegan and gluten-free. Daniel Twiss, co-founder of Soul Fruit, commented: "We are incredibly excited for people to try our new varieties. When we launched with our Dragon Fruit snacks last year, we knew there was a real opportunity to bring something new to the dried fruit snack market and we’re pleased to now be able to extend our range." He continued: "People are crying out for unusual and exotic tastes and these new products not only provide something exciting and different, but they also appeal to those time-poor snackers who want to eat healthily and consume products with added health benefits". The new launches will be available in Selfridges this month for an RRP of £1.79 per pack.
