Plant-based food company, Black Sheep Foods, has raised $5.3 million in a seed funding round from investors including AgFunder and Bessemer Venture Partners. Other investors included Meera and Ashok Vasudevan of Tastybites, New Crop Capital, Siddhi Capital and Smita Conjeevaram, an individual investor. Black Sheep Foods is a plant-based food brand that produces "heritage breed meats and wild game". The company recently debuted its Tunis-inspired plant-based lamb. The start-up claims the 'lamb' is high in protein – containing 18g per serving – as well as cholesterol-free, while using 98% less land, 95% fewer carbon emissions and half as much water compared with commercially raised lamb. "We’re encouraged by the momentum the plant-based movement is currently seeing, evidenced by our support from a diverse array of investors and restaurants, and what that means both for Black Sheep Foods but also for the future of our planet," said Sunny Kumar, co-founder of Black Sheep Foods. The company plans to use the investment to continue its efforts to propel the plant-based category forward through patent-pending flavour compounds and a scientific approach.

Unilever-owned Ben & Jerry's has unveiled two new additions to its Topped line, both of which feature a chocolatey ganache and chocolate cookie swirl. The two new flavours aim to tap into nostalgia and are inspired by two childhood treats: chocolate milk and cookies and 'dirt' cake. They join the Ben & Jerry's Topped line, which was introduced a year ago. Topped Chocolate Milk & Cookies features chocolate ice cream with chocolate chip cookies and chocolate cookie swirls, topped with a milk chocolatey ganache and fudge chips. Meanwhile, Topped Dirt Cake combines vanilla pudding ice cream with chocolate sandwich cookies and chocolate cookie swirls, and is topped with ganache and chocolate cookie crumble. “The 2021 Topped line-up was one of our most successful innovation launches ever,” said Ben & Jerry's ‘flavour guru’, Colleen Rossell. “So, we can't wait for fans to literally dig into these new flavours. If you're looking for a treat loaded with nostalgia that brings you back – these two new Topped flavours deliver.” With an SRP of $4.99-5.49, the two new offerings will roll out to retailers across the US in the first quarter of this year.

Mondelēz International-owned brand Oreo has launched a new range of frozen treats which includes ice-cream tubs, snackable bars, cones and sandwiches. The Oreo Bars and Cones both feature a creme-flavoured base packed with cookie pieces and dipped in a coating made from crushed Oreo wafer pieces. Oreo Sandwiches feature the same creme-flavoured base mixed with cookie pieces and sandwiched between two big cookie wafers. Lastly, the 48oz and 14oz ice-cream tubs feature the same base variation packed in a scoopable tub. Justin Parnell, vice president at Oreo US, said: "We continually seek ways to playfully reinvent our classic cookie and are excited to bring this new Oreo innovation to the freezer aisle. Created for our most loyal fans, we have perfected the Oreo frozen treats recipes to deliver the signature Oreo flavour in every bite. We hope this delicious new treat will provide even more opportunities for fans to foster moments of playful connection over a shared love of Oreo". The frozen treats are available now at select retailers and will be available nationwide across the US in March.

Finnish food and beverage company Paulig has acquired Spanish snack company Liven, as it aims to strengthen its position in the Tex-Mex and snacking markets in Europe. Located in Sant Cugat, with production facilities in Puig-Reig and Berga, Liven offers speciality snacks made from corn, vegetables, grains and pulses, as well as gluten-free and organic products. Paulig's CEO, Rolf Ladau, said: “The acquisition of Liven is an important step in the execution of our growth strategy and ambition to become one of the fastest growing and profitable food and beverage companies in Europe, and a sustainable frontrunner in the industry". He continued: "Liven’s agile innovation and production capabilities strengthen Paulig’s position as the leading European Tex Mex company, and also complement our offering with new types of snacks”.

Mondelēz International has reported an 8% rise in full-year net revenue, but saw its Q4 gross margin squeezed by higher raw material and transportation costs. On an organic basis – which excludes the impact of acquisitions and currency – net revenue grew 5.2%, driven by strong demand and pricing. Organic net revenue growth, favourable currency and incremental sales from the acquisitions of Give & Go, Hu, Grenade and Gourmet Food all helped Mondelēz to increase its revenue to $28.72 billion in 2021. The snack giant’s emerging markets business boosted its performance last year, posting an 11.4% rise in net revenue – compared with the 6.3% sales growth recorded by the company's developed markets. Mondelēz’s key North America region delivered the weakest net revenue growth of all its segments – with a 1.8% increase in sales. For Q4, meanwhile, the owner of Cadbury and Oreo posted a 4.9% rise in net revenue to $7.66 billion, beating analysts’ estimate of $7.59 billion, according to IBES data from Refinitiv, cited by Reuters. The company’s gross profit margin declined to 37% in the fourth quarter from 39.4% a year earlier. Like other packaged food makers, Mondelēz has been grappling with soaring shipping and labour expenses, as well as surging commodity costs. "2021 marked another year of strong top- and bottom-line results despite a challenging macro environment," said Mondelēz chairman and CEO, Dirk Van de Put. "We further strengthened our portfolio with the addition of several growth accretive acquisitions, which increase our exposure to broader snacking categories and expanding profit pools.” He continued: “We are confident that our brands, strategy and focus on execution position us well to successfully navigate near-term volatility; to profitably deliver against a clear set of sizable growth opportunities; and to achieve our long-term financial targets in 2022 and beyond”.

US cannabis-infused snacks start-up, TSUMo Snacks, has raised $4 million in a seed funding round led by Casa Verde. Founded in 2021, TSUMo infuses cannabis into salty and savoury snacks. The company's products contain a low dose (10mg) of THC per bag and include five flavours: Classic Cheese Puffs, Fiery Hot Cheese Crunchers, Zesty Ranch Mini Tortilla Rounds, Hint of Lime Mini Tortilla Rounds and Salsa Verde Mini Tortilla Rounds. The new brand aims to "develop new flavour profiles and form factors, further elevating and expanding the way people consume cannabis," said TSUMo's CEO and co-founder, Caroline Yeh. Casa Verde's partner, Yoni Meyer, added: "This capital will be used to supercharge TSUMo's product roadmap as the brand continues to fill a need for differentiated infused products in a space dominated by sweet-centric offerings".

US spiked seltzer brand Mighty Swell is unveiling a new Keep It Weird variety pack, as it pays tribute to the brand's Austin, Texas, heritage. The Keep It Weird variety pack comprises four flavours: Tiger's Blood, a blend of strawberry, watermelon and coconut; Rocket Pop, a combination of raspberry, pomegranate and lime; Pink Colada, a mix pink of pineapple and coconut; and Purple Magic, a blend of boysenberries, wild blueberries and grape juice. The variety pack, which features 12oz cans, contains 100 calories, 3g of carbs an abv of 5%. "There's no future in redundancy in the seltzer innovation cycle; either you are the trend, or it has already been done. With the appointment of our new CEO, we had leadership that believed in the Keep it Weird vision," said Mighty Swell's director of brewing & innovation, Andrea Clodfelter. The new collection will be available across 27 states at select retailers, such as Costco, Kroger and Walgreens, at an SRP of $15.99 per variety pack.

Boparan-owned Carluccio's has released a range of restaurant-inspired dishes including fresh pasta, a selection of ready meals and 12" pizzas, as well as stir-in sauces. The 16-strong product range will feature ready meal options, such as Beef and Chianti Lasagne for two and Roasted Mushroom Tagliatelle, alongside 12" pizzas ranging from Margherita to Prosciutto Crudo & Mozzarella. In collaboration with Italian pasta brand Bertangi, the release also includes three fresh pasta variations – Ravioli, Mezzelune and Girasoli – which coincides with two stir-in sauce options. Phil Neale, marketing and communications director at Boparan Restaurant Group, commented: "From listening to customers, we know people would like to access our brands more regularly as part of their eating-at-home occasions and this brand new fresh range from Carluccio’s allows us to bring them high-quality dishes inspired by our restaurants into their own home kitchens." The prices range from £2.50 for sauces up to £6.50 for ready meals. These are exclusively available in 300 Sainsbury’s stores nationwide.

Private investment firm Inverleith has acquired a majority stake in Scottish premium whisky and gin distiller Eden Mill St Andrews. Eden Mill produces Scottish craft gins and single malt scotch whisky, including flavoured and heritage gins, as well as its 'hip-flask' whisky series. The investment from Inverleith will enable the company to expand its distribution in the UK and internationally. The company also plans to build a new carbon-neutral distillery located on the University of St Andrews Eden Campus. Paul Miller, Eden Mill's managing director and founder, said: "We have been looking for an investor who shares our passion for the Eden Mill opportunity, who understands the uniqueness of the opportunity and is aligned to our vision. With their consumer strategic brand and commercial expertise, I am confident that we have found the right partner to take drive and support the next and most significant stage of the Eden Mill journey. I’m looking forward as managing director to working closely with the team at Inverleith."

Spirits producer Diageo has recorded a 15.8% rise in half-year net sales to £8 billion, driven by growth across all of its regions. The owner of Gordon’s gin and Smirnoff vodka has reported broad-based growth across most categories, with a particularly strong performance in scotch, tequila and beer. For the six months to 31 December, Diageo's operating profit increased 22.5% to £2.7 billion. The company has benefited from shoppers stocking up during the pandemic, often trading up to more expensive types of alcohol. Sales of premium products made up more than 50% of net sales. Diageo chief executive Ivan Menezes said that consumer demand has remained resilient in the off-trade channel. Meanwhile, the company has benefitted from the continued recovery of the on-trade channel – particularly in Europe, where net sales were up 21%, and North America, where sales were up 10%. "I am very pleased with our financial results, which build on our growth momentum in fiscal 21. We delivered strong organic net sales growth across all regions and operating margin expansion,” said Menezes. “Strong sales volume growth and continued premiumisation drove an improvement in organic operating margin during the half. This was achieved while increasing our investment in marketing to gain share and support innovation, particularly in North America and Greater China.” Menezes continued: “We have made a strong start to fiscal 22. While we expect near-term volatility to remain, including potential impacts from Covid-19, global supply chain constraints and rising cost inflation, I am confident in our ability to successfully navigate these disruptions through the remainder of the year.”

UK treats brand Serious Sweets has announced its acquisition of gourmet honeycomb maker Mighty Fine Confectionery for an undisclosed sum. Founded by Ross Newton and Kit Tomlinson, Mighty Fine is based in Camden, London, and produces confectionery products, including chocolate-coated almonds and homemade honeycomb bars, dips and buttons. Serious Sweets supplies treats to major retailers in the UK and has established SSC Brands to manage its branded interests. Rob Whitehead, managing director at Serious Sweets, commented: "We’re delighted to continue the Mighty Fine journey that Ross and Kit have so brilliantly led. The opportunity for more ‘worth-it’ moments from the Mighty Fine brand is huge, and we intend to delight consumers in very special ways over the next few years." Mighty Fine will join the SSC Brands portfolio.

Plant-based nutrition brand Kencko has raised $10 million in Series A funding, as it looks to enter additional categories. Kencko's products – offered through its subscription service – aim to help customers consume their recommended daily portions of fruit and vegetables. The brand’s portfolio includes smoothie sachets, which contain 2.5 servings of fruit and vegetables in a powdered, freeze-dried form, and which are prepared by adding liquid. The company also offers gumdrops, while its Kenckobowls will launch in February to provide a "quick but nutritious meal" that is prepared by adding hot water to the freeze-dried mix. Kencko claims that by freeze drying produce soon after harvest, it cuts food waste by up to 30% compared with fresh produce. All of the B Corporation’s packaging is also said to be plant-based and compostable. The round was led by existing investor Siddhi Capital, and also included participation from Next View Ventures, Riverside Ventures, Silas Capital, Cheyenne Ventures, Nakhla Ventures and Shilling Capital, among others. The company plans to use the new funds to expand into additional categories, targeting further consumption occasions throughout the day.