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- Crosta & Mollica unveils new frozen Italian gelato truffles
Italian food brand Crosta & Mollica is entering the dessert market with a new range of new frozen Italian gelato truffles, Tartufi. Tartufi is available in three flavours – Caffè Latte, which is made with coffee and fior di latte gelato with Madagascan vanilla, rolled in light cocoa and almond biscotti crumb; Chocolate & Hazelnut, made with IGP hazelnuts and "slightly bitter" dark chocolate and rolled in dark cocoa and hazelnut nib crumb; and Tartufi Pistachio & Almond, made with pistachio and IGP almond gelato and rolled in pistachio crumb. The Crosta & Mollica Tartufi range is available to purchase in the UK at Waitrose and Ocado stores for an RRP of £5.00 per box. Founded in 2009, Crosta & Mollica produces pizzas, aperitivo snacks, bakery, conserves and now deserts.
- Global Food and Ingredients buys plant-based milk and snack brand YoFiit
Canadian plant-based food and ingredients company, Global Food and Ingredients, has acquired Your Fitness Dish. Operating under the brand YoFiit, Your Fitness Dish is a plant-based milk and snack food company. Its YoFiit portfolio includes a high-protein plant-based milk made with chickpeas, pea protein and flax oil, as well as a range of high-protein, low-sugar snack bars and granola products made from plants. "We are very pleased to accelerate our plans to expand into the high-growth plant-based milk and snack food segments through this acquisition," said David Hanna, Global Food and Ingredients' CEO. "YoFiit has developed a loyal and engaged customer group in Canada due to the unique health proposition of its product offering, and we look forward to implementing a US market launch in the next few months." According to GFI, YoFiit is also engaged in a research and development project to expand its range with yogurt and egg alternatives, as well as additional plant-based milk products. A government grant of CAD 1.2 million (approx. $942,389) has been secured for the project. YoFiit's founder, Marie Amazan, added: "YoFiit has major expansion plans into the US market and across Canada, while also developing new plant-based products that will fill the nutrition and taste gaps in the marketplace. We are excited to join GFI to accelerate these plans and use GFI's platform to connect our plant-based ingredients needs right to the farm level." Amazan will continue as the company's president, and she will manage the brand's products and business development within the GFI group.
- Change Foods raises over $15.3m in seed investment round
Animal-free dairy company Change Foods has raised $12 million in a seed extension round, bringing its total seed investment to over $15.3 million. The over-subscribed round was led by Route 66 Ventures and also included Upfield, Orkla, Green Generation Fund and Blue Horizon Ventures, among others. The precision fermentation company creates dairy proteins – caseins – which serve as the key ingredients for its animal-free cheese. Change Foods uses microbes instead of animals to create real dairy proteins and fats. The company has also signed two strategic collaboration agreements, with Upfield and Sigma, which it says will accelerate its product development. David Bucca, founder and CEO of Change Foods, said: "Our mission is to transform the global cheese business with new products that deliver the indulgent taste and eating experience of traditional animal-derived products, but without the detrimental impacts of industrialised animal agriculture". He continued: "Our flagship funding round and collaboration agreements demonstrate confidence in our ability to usher in revolutionary animal-free cheese products. Industry partnerships are a critical part of our business model as we look to leverage the scale and expertise of leading industry players to rapidly expand production and go-to-market." Change Foods is targeting late next year for its initial market launch.
- Next Gen Foods secures $100m in funding, launches vegan chicken in US
Next Gen Foods has raised $100 million in a funding round which it claims marks “the largest Series A to date for a plant-based meat company”. The Series A round included new investors, such as Southeast Asian venture capital firm, Alpha JWC, and Paul McCartney's MPL Ventures. Next Gen Foods’ latest funding push was also backed by existing investors, including Temasek and Bits x Bites. The new funding will support Next Gen Foods' aim to swiftly expand its global footprint this year. The company’s vegan chicken product, Tindle, launched in the US this week through a raft of restaurant partnerships, and the start-up plans to further increase distribution – both within the country and internationally. Andre Menezes, CEO and co-founder of Next Gen Foods, said: “The US has long been a target market for us, and thanks to our line-up of fantastic investors who have participated in this funding round, this is only the beginning of our journey in delivering delicious and sustainable foods to reverse our climate crisis”. Tindle – which is made of nine simple ingredients – is also available in restaurants in Singapore, other Asian markets, the Middle East and Amsterdam. The raise will help Next Gen Foods to boost the R&D and product innovation capabilities at its new research hub, which is set to open in Singapore later this year. “Within a year, we've gone from launch to more than 200 restaurants on three continents. We will continue this relentless momentum in 2022 thanks to strong demand from chefs, distributors and consumers, who love Tindle for its great taste and tiny environmental footprint,” said Rohit Bhattacharya, chief financial officer at Next Gen Foods. “We are grateful to have mission-aligned and long-term global investors supporting us during such a critical phase for the company – bringing their expertise and visionary leadership.” Founded by veterans of the meat industry, Next Gen Foods uses Lipi – its proprietary emulsion of plant-based ingredients – to help recreate the aroma and other qualities that typically come from chicken fat.
- Plant & Co introduces new dairy-free yogurt range
Meadow Foods-owned brand Plant & Co has released a new plant-based dairy alternative yogurt range, named Yoat. The new range has been developed using the company’s signature oat and coconut base and will be available in several flavours including natural, strawberry, raspberry and peach. Yoat will initially launch in 85g pots, primarily aimed at children, and a larger single-serve 110g size. Jack Hancock, managing director of Meadow Foods’ plant-based business, commented: "We’ve used our experience and expertise to develop a fantastic yogurt alternative that is of the highest quality and doesn’t compromise on taste or texture. Yoat will be perfect for the foodservice and food manufacturing sectors as the consumer demand for dairy-free yogurt grows. We look forward to marketing this great launch with both new and existing customers throughout early 2022." The yogurts will be available from early February through a variety of foodservice operators and will also be stocked in a number of outlets including hospitals, schools and hotels.
- Philippines and Qatari dairy firm Baladna to partner on $500m integrated dairy facility
Baladna, Qatar’s largest locally-owned dairy producer, is teaming up with the government of the Philippines to establish a $500 million integrated dairy facility. The Philippines is a major importer of dairy products, although the country's local milk production is said to have increased by 9.5% between 2019 and 2020. The project aims to foster domestic dairy production and will see Baladna work with the Philippines' Department of Agriculture (DA) and the country's Department of Trade and Industry. “The DA, through the National Dairy Authority, fully support and welcome this new initiative as this will help jumpstart catalytic investments in the Philippine dairy industry to contribute to food security, local milk production and processing leading to agri-industrial development,” said DA Secretary, William Dar. Baladna produces milk, yogurt, cheese, labneh, cream, desserts, juices and animal fertilisers. According to DA, it is expected that the project will increase local milk production by 120 million litres from the Philippines' current milk production of 26.7 million litres. Dar stated: “The investments will be able to generate 2,000 new jobs during the initial phase of its first full year of operations, providing significant opportunities for domestic employment”. He continued: “DA has already identified five possible locations for the Baladna project and welcomes the Baladna team in the next few weeks for the site visit in the Philippines. DA will continuously provide the needed support to fast track the implementation of this project in coordination with DTI and other partner agencies.”
- US activist firm Trian slashes holdings in P&G and Mondelēz - Reuters
Trian Fund Management has said in a regulatory filing that it has cut its stakes in Mondelēz International and Procter & Gamble Co (P&G) by over 90% each in the quarter ended 31 December 2021, according to a report by Reuters. Trian owned 237,384 shares of P&G and 450,184 shares of Mondelēz at the end of the fourth quarter. The filing signals that the collaboration between Trian and the two businesses may come to an end. 13-F filings require fund managers to disclose how much stock they held in US companies at the end of the previous quarter. Trian began buying into Mondelēz in 2013 and Peter May, one of the firm's founding partners, is a member of the confectionery giant's board.
- Azkoyen Group launches Vitro S1 MIA coffee machine
Azkoyen Group has completed its Vitro coffee machine range with the launch of a new compact automatic coffee machine with fresh milk, called the Vitro S1 MIA. The Vitro S1, which features an automatic cleaning process for the fresh milk system, includes a micro-injection air technology, allowing consumers to prepare a wide range of drinks, such as cappuccinos and latte macchiatos. The coffee machine allows the "density and consistency" of the foam, and hot and cold temperatures to be programmed. According to Azkoyen Group, the Vitro S1 is perfect for convenience stores, petrol stations, hotels and restaurants, with consumption of up to 80 cups per day. The new technology is also ideal for offices with up to 40 people.
- Health-Ade introduces seasonal kombucha flavour
Functional beverage company Health-Ade has launched a new seasonal flavour to add to its kombucha portfolio – Pineapple Creamsicle. The new variant is flavoured with cold-pressed pineapple and lime juices with subtle hints of vanilla. The release has the added benefits of living probiotics and healthy acids for gut health. Daina Trout, co-founder and chief mission officer of Health-Ade, said: "Winter can be such a harsh time of year that we are thrilled to be able to put forth a bit of sunshine, nostalgia and fun in a bottle. As we continue to put out new seasonal flavours like Pineapple Creamsicle, Holiday Cheers and others, we hope that consumers get excited about these limited-time treats and look forward to celebrating each season with Health-Ade." Pineapple Creamsicle will be available for a limited time during April of this year nationwide across the US.
- Nature's Path Foods debuts news children cereal
Nature's Path Foods' subsidiary, EnviroKidz, has added a new organic, gluten-free cereal to its portfolio – Rhino Rolls. Made with whole oat and rice flour, the new tiny cinnamon bun-shaped cereal is sweetened with organic cane sugar and sprinkled with cinnamon and vanilla. Rhino Rolls is made with no artificial flavours, colours or preservatives, and contains 18g of whole grains per serving. Rhino Rolls are available at retailers nationwide, including Whole Foods Market, Kroger, Sprouts and Amazon.
- Kitwave acquires UK foodservice supplier MJ Baker
Food wholesaler Kitwave Group has announced the acquisition of MJ Baker Foodservice for an undisclosed sum. MJ Baker will be incorporated into Kitwave’s existing foodservice division, which currently comprises the trading operations of HB Clark & Co and David Miller Frozen Foods. Founded in 1999, MJ Baker offers over 3,500 products in the ambient, chilled and frozen food categories, as well as alcohol and confectionery. Paul Young, Kitwave's CEO, said: “The acquisition of MJ Baker is an excellent addition to our foodservice division and expands the group’s nationwide reach into the South West". David Brind, Kitwave's CFO, added: “This acquisition significantly adds to Kitwave’s foodservice division and extends the reach of our services into an important region of the UK. The integration of MJ Baker into the group’s foodservice division complements our existing operations and reflects Kitwave’s strategic direction and expansion ambitions, both through acquisition and organic growth.”
- Soli Organic to build soil-based indoor farm in Washington
Soli Organic has announced plans to build a soil-based organic farm in Marysville, Washington, as it looks to establish a network of 15 indoor farms across the US. The company's soil-based growing system eliminates the need for synthetic fertilisers and enables its farms to offer organic herbs and leafy greens, with all of the sustainability benefits of indoor-grown produce, at a much lower price point. The city of Marysville is located 35 miles north of Seattle, and the new 130,000-square-foot farm will supply 5 million pounds of "affordable" USDA-certified herbs and leafy greens each year. Matt Ryan, chief executive officer of Soli Organic, said: "This is an incredibly exciting time for Soli Organic. We're thrilled to be expanding into the Pacific Northwest region as our company seeks to ensure that consumers in the Seattle area and broader Pacific Northwest region have access to high-quality indoor-grown organic produce that is not only affordable but sustainably produced." The facility is the second of eight new farms Soli Organic intends to build. The company – which already has seven facilities in operation – plans to have a total of 15 soil-based indoor farms across the US, supporting its aim to shift 90% of its production indoors. The Marysville facility is expected to be operational by early next year.
