US natural food brand Purely Elizabeth has closed a $50 million Series B financing round, which was backed by the newly launched food and nutrition division of Seminal Capital (SEMCAP). Purely Elizabeth offers “nutrient-dense” breakfast foods that incorporate ingredients such as organic ancient grains, probiotics and MCT oil. The Series B round was co-led by SEMCAP’s brand-new food and nutrition division, and joined by co-investors Swander Pace Capital and SEMCAP partner Fresh Del Monte. Purely Elizabeth’s portfolio currently includes pancake and waffle mix, granola and oatmeal, and the company says that it plans to introduce new products as well as launch into a new category. Purely Elizabeth will use the new funds to invest in marketing and product innovation, and to support its growth in the ecommerce channel. “Since 2016, SEMCAP’s John Haugen and Ryan Newcom have served on my board and played an instrumental role in helping scale the business,” said Elizabeth Stein, Purely Elizabeth founder and CEO. “We share the same vision and values for the brand, which were our most important aspects when choosing an investment partner. We are beyond lucky.” John Haugen, managing partner at SEMCAP’s food and nutrition division, said: “Purely Elizabeth is catalysing change in the food and nutrition space and changing the way food is made through its commitment to clean, sustainable ingredients that are packed with nutrition, while simultaneously delivering great taste”. He continued: “We are thrilled to continue building on an amazing relationship that has existed for over five years”.

UK-based flavoured water company, Dash Water, has closed an investment round and appointed David Milner as its new chairman. The round brings the total raised by the brand to £7 million. Investors included ex-CEO of Tyrrells and CEO of Lily’s Kitchen, David Milner, existing backer Creator Collective Capital and David Abrahamovitch. Dash Water uses wonky fruit and vegetables that would have been wasted to naturally infuse water with flavours that are free from sugars and sweeteners. The funding round will allow Dash to invest in growth in Australia, widen its distribution channels and continue to drive its direct-to-consumer sales. The appointment of new chairman, David Milner, who is the current CEO of St. Pierre Groupe, will also support the brand's global expansion plans. Jack Scott, co-founder of Dash, commented: "Reducing food waste is regarded by experts to be the third most effective weapon we have in the fight against climate change. Most importantly, this wouldn’t be possible without our loyal customers and investors – our biggest fans and advocates. We’re stoked to be adding our new investors to the Dash family and are excited to be working alongside an industry titan like David too." The brand has also released a brand-new mango flavour, which joins its existing line-up of raspberry, lemon, blackcurrant, peach and cucumber.

Cultured meat company Upside Foods, formerly Memphis Meats, has announced its acquisition of Cultured Decadence. Based in Madison, Wisconsin, Cultured Decadence is a cultivated seafood company. The start-up – which was founded in 2020 – has developed proprietary cell lines and cell feed for a variety of seafood products, including lobster and other crustaceans. The deal will expand Upside’s product portfolio and accelerate the commercialisation of a range of cultured seafood products. Cultured Decadence will remain in Wisconsin as Upside's Midwest hub, while adopting its new owner's brand. The acquisition follows the opening of Upside's Engineering, Production and Innovation Center (EPIC) in California, which Upside says will be able to produce Cultured Decadence’s product and species portfolio as well as its own. “Seafood has a rich and delicious culinary tradition that makes it a favourite across the globe. Cultivated seafood also has a tremendous potential to benefit the world," said Uma Valeti, founder and CEO of Upside Foods. "Cultured Decadence's technology is incredibly promising, and their team is filled with passionate, smart individuals who want to make our favourite food a force for good. We're thrilled to welcome the Cultured Decadence team to the Upside family and are excited that the scientific, technological and production infrastructure we have built over many years can help accelerate the mission impact of this team.” John Pattison and Ian Johnson, co-founders of Cultured Decadence, added: "We've long admired Upside's innovation and leadership in the cultivated meat industry. Upside's unparalleled R&D and scale up capabilities will significantly accelerate the commercialisation of cultivated delicious, sustainable and humane seafood.”

Alpla has announced that the first stone has been laid for a recycling plant in Mexico, that will have the capacity to process 50,000 tonnes of post-consumer PET bottles each year. More than $60 million is being invested in the plant, which will be located in Cunduacán in the state of Tabasco. The project is the result of a joint venture between Alpla and bottler Coca-Cola Femsa. The two companies are aiming to boost the circular economy in the states of south-east Mexico with the new plant. In addition, the construction and operation of Planta Nueva Ecología de Tabasco – known as PLANETA – are expected to create more than 20,000 direct and indirect jobs. Alpla Mexico and Coca-Cola Femsa – along with Coca-Cola Mexico – have already been collaborating since 2005 to run Industria Mexicana de Reciclaje (IMER), which is said to be the first food-grade PET recycling plant in Latin America. Commenting on the establishment of PLANETA, Alpla managing director for Mexico, Central America and the Caribbean, Carlos Torres Ballesteros, said: “This new recycling plant for food-grade PET will be Alpla’s third recycling plant in Mexico, which makes us a spearhead at a national level and a recycling benchmark for the rest of the world”. “As part of our commitment to sustainability, Alpla will invest more than €50 million every year between 2021 and 2025 to expand its global recycling capacity.”

The Artisan Drinks Company is launching a new range of 'perfect serve' mixer cans into Ocado along with a brand-new flavour to add to its portfolio. The 200ml cans will be available in five variants initially, including Classic London Tonic, Skinny London Tonic, Pink Citrus Tonic, Amalfi Lime Tonic and Fiery Ginger Beer. Mikey Enright, co-founder of Artisan Drinks, said: "Creating the perfect drink at home can be challenging. With mixers available in everything from 150ml cans to one-litre bottles, it’s hard to know how much you should be using". He continued: "Most 150ml cans on the market are a hangover from airline demand. By choosing to create the perfect serve measure over our own ease, our 200ml cans simplify the process for shoppers. We’ve fortunately avoided the current supply chain and production issues facing many of our industry colleagues, meaning we can supply retailers almost straight away, allowing them to quickly fulfil their customers’ needs." The brand has also released a new variation to add to its portfolio – Yuzu Tokyo Tonic – which will launch in Champers, PDN Wines, Thai Leisure Group, Amazon and The Craft Gin Club. The new 200ml cans will be launched in Ocado at the beginning of February in six-packs for an RRP of £4.50. They will also be available in 24 packs at independent retailers and Amazon.

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.