BrewDog has reached its initial crowdfunding target of £7.5 million six weeks since the round was launched, and now aims to raise up to £50 million. The Scottish craft brewer intends to use the capital to fund the next steps in its sustainability plans. In its latest crowdfunding investment programme, Equity for Punks Tomorrow, BrewDog raised its first £1 million in less than 48 hours after it launched on 10 September. Scheduled to close on 28 January 2021, the company has announced its maximum potential raise of up to £50 million. The brewer intends to use the capital to fund projects including direct wind and solar power for its breweries, CO2 recovery, electric vehicle fleets for local collections and deliveries, as well as converting waste into energy. “As investors continue to join our thriving community of Equity Punks, it proves people believe in our ambition for the business, and want to be a part of our story,” said James Watt, co-founder of BrewDog. He added: “Announcing our carbon negative status earlier this month was the first step in ensuring that, as a business, we’re holding ourselves accountable for how our actions impact the environment. Our aim is for our business to grow while simultaneously reducing our emissions - our success won’t be to the detriment of the planet.” The company has secured over £73 million in previous crowdfunding rounds. Over 16,000 people so far have invested in what BrewDog has confirmed will be the final crowdfunding offer for the brewer.

Haribo Group has announced that it will begin construction of its first-ever manufacturing plant in the US, with the company stating that it will invest over $300 million in the project. The new manufacturing site will be located in Pleasant Prairie, Wisconsin, and Haribo has chosen Gilbane Building Company as the general contractor for the construction project. Construction of the 136.8-acre facility is to begin "as soon as possible" in 2020, and Haribo claims that the construction of the new site represents the 'largest project in its history'. A statement from the company claims that the new production plant will amplify Haribo's ability to produce confectionery products for US customers and consumers, enhancing speed and production efficiency. Hans Guido Riegel, managing partner of the Haribo Group, added: "The strategic decision to build a manufacturing facility in North America is of great importance to the Haribo Group, and we are thrilled to take this next important step in the process. "Haribo is the fastest growing confectionery brand in the US, and our production facility will support continued long-term growth while also allowing us to be part of the Pleasant Prairie community. "Our customers and consumers in the US expect us to deliver the Haribo products they love quickly and reliably. With the new plant, we are living up to this responsibility." Wes Saber, chief financial officer, Haribo of America, said: "Haribo will invest well above $300 million in our state-of-the-art facility, the largest project in our 100-year history. "In addition to that investment, we're going to create up to 385 direct Haribo jobs in phase one of our build and up to 4,200 indirect jobs upon completion of our full build as per an independent economic study."

Walmart has agreed to sell UK grocery chain Asda to the Issa brothers and private equity firm, TDR Capital, for an enterprise value of £6.8 billion. The consortium was rumoured as the preferred bidder for Asda by Sky News earlier this week. Walmart has been weighing what to do with Asda since a proposed merger with Sainsbury was blocked by the UK competition authority two years ago. The long-awaited sale of a controlling stake in Asda sees it return to majority British ownership for the first time since 1999, when Walmart paid £6.7 billion for the business. The UK retailer will be offloaded to Mohsin and Zuber Issa, founders and co-CEOs of EG Group – a global convenience and forecourts retailer – and investment funds managed by TDR Capital. They will join together to acquire an equal majority ownership stake in Asda, while Walmart will retain an ongoing equity investment in the business, a seat on the board and will remain a strategic partner. In the filing, Walmart said the deal will include a £1 billion cash injection in the next three years to help ensure Asda's prices remain low and to further strengthen the business and its supply chain. With their experience at EG Group, Issa Brothers are also described as being well placed to support Asda in expanding its presence into convenience retail stores. New co-owners of Asda, Mohsin and Zuber Issa, said: “We believe that our experience with EG Group, including our expertise around convenience and brand partnerships and our successful partnership with TDR Capital, can help to accelerate and execute that growth strategy. "After a successful period as part of Walmart we are looking forward to helping Asda build a differentiated business that will continue to serve customers brilliantly in communities across the UK.” Following completion of the deal, the existing Asda management team will continue to drive the business' growth strategy with ongoing access to Walmart’s global sourcing scale and innovation. The retailer will remain headquartered in Leeds and will continue to be led by CEO Roger Burnley who will form part of Asda’s board alongside representatives appointed by the Issa brothers, TDR Capital and Walmart. Judith McKenna, president and CEO of Walmart International, added: “We are delighted to be able to announce this deal today, which we believe creates the right ownership structure for Asda, building on its 71 year-heritage, whilst bringing a new entrepreneurial flair, not only to Asda, but also to UK retailing.” The transaction, which is subject to regulatory approval, is anticipated to close in the first half of 2021.

Arla Foods Ingredients has released its first organic ingredient: an organic micellar casein isolate ingredient which is suitable for functional food products and active nutrition applications. Called MicelPure Organic, the ingredient is extracted from organic milk using gentle processing methods without the addition of acids. According to Arla, this process maintains the chemical structure of the ingredient, allowing the creation of products that are "as close to nature as possible". The company claims that the ingredient contains a minimum of 87% native protein, while it is low in lactose and fat, is heat-stable and is taste-neutral. The ingredient can be utilised in food applications such as cheeses, yogurts, ice creams, and also for beverages such as ready-to-drink high-protein beverages and powder shakes. According to research conducted by Lindberg International in 2019, one in three European consumers stated that they would buy more organic, high-protein snacks if they were available. Meanwhile, the research claims that “healthy” and “natural” are two of the most important characteristics for consumers of food products, and Arla Foods Ingredients claims that the MicelPure ingredient has been released to help manufacturers cater to these growing consumer trends. Barbara Jensen, business development manager at Arla Foods Ingredients, said: “When consumers hear ‘organic’, they think healthy, sustainable and wholesome. "However, a shortage of natural, organic protein ingredients has prevented many manufacturers from entering this market. MicelPure Organic fills the gap, allowing companies to extend their portfolios with products that are both organic and packed with high-quality protein.” Joe Katterfield, business development manager for sports nutrition and health foods at Arla Foods Ingredients, added: “Protein’s benefits for muscle growth, recovery and weight management have driven consumer demand in a range of categories. "But while the high-protein trend is definitely here to stay, manufacturers also have to meet many other needs. MicelPure combines high protein levels and functionality with an offer of healthy wholesomeness that increases appeal.”

Celsius Holdings, maker of Celsius fitness drinks, has entered into an agreement providing for an investment of $22 million. The deal, with an Asian private equity firm and a global institutional investor, is expected to close on or around 25 August 2020. In the placement transaction, Celsius Holdings will sell a stake in the company and various affiliates will do likewise. Celsius Holdings says that the affiliate sales will represent a minority divestiture from its long-term strategic partners to facilitate this investment. The transaction will be effected pursuant to an exemption from registration afforded by Regulation S under the Securities Act of 1933. “The injection of funds will allow us to eliminate our outstanding bonds incurred in connection with our October 2019 acquisition of Func Food Group Oyj, which bonds are due in October 2020, and provide working capital enabling Celsius to maximise the significant growth opportunities in both domestic and global markets,” said John Fieldly, Celsius Holdings president and CEO. Tony Lau of Horizons Ventures, co-chairman of Celsius Holdings, added: “Horizons Ventures and affiliated partners seek to invest in companies with exceptional management teams which are positioned to disrupt categories and Celsius has already established the company as a leader in the rapidly emerging functional energy beverage category. “Consumers are striving for healthier drink options which is a common trend on a global scale, and we are confident that Celsius is well positioned as an energy drink that not only tastes good but is a true differentiator in the category, a unique and attractive offering which any consumer around the world can relate and benefit from.” Celsius also announced its expansion into gasoline and convenience store chain, Speedway. The initial rollout, starting at the beginning of the fourth quarter of 2020, will reportedly introduce two SKUs to 2,700 stores. Earlier this year, Celsius expanded its portfolio of functional beverages with a new jackfruit flavour, alongside updated packaging, for its Heat range.

PepsiCo Beverages North America has inaugurated a new $14.5 million sales and distribution centre in Indianapolis, which it claims unlocks new distribution routes and capabilities. Located on the southeast side of Indianapolis, the facility spans 200,000 square feet and features new technology and delivery systems that allow for new chilled, direct-to-store delivery. According to PepsiCo, the new technology will help unlock 150 new routes for delivery which will enhance its service to customers in the region and reduce transport miles, and in turn, its overall carbon footprint. The announcement comes after PepsiCo launched two online direct-to-consumer stores in the US, allowing consumers to order a range of PepsiCo snack and drink products directly from the company, during the Covid-19 pandemic. The custom-built facility, which is said to have created 30 new jobs, joins 15 other PepsiCo manufacturing and distribution locations in Indiana. The $14.5 million investment by Scannell Properties, will be leased by P-America LLC, a subsidiary of PepsiCo Beverages North America, for a period of 10 years. “The innovative new facility will be instrumental in our path to continued growth for our business and our customers’ business in Indiana,” said Richard Tompkins, president of PepsiCo Beverages North America’s north division. Indianapolis Mayor Joe Hogsett added: “We applaud PepsiCo’s announcement today, including the impact it will have on Indianapolis through the creation of new jobs and expansion of their local footprint." PepsiCo has also announced a $30,000 grant to the Gleaners Food Bank – Feeding America Program in Indiana, as part of its continued efforts to support those impacted by Covid-19.

Symrise has partnered with Kellogg Company in a three-year project in Madagascar that aims to responsibly source 100% of Kellogg’s vanilla by 2020. The partnership builds on the announcement in 2019 that Kellogg joined the “Symrise and Friends” family of private sector partners, which work together to deliver benefits for the vanilla faming communities and the biodiverse environment in which they live. The joint venture will provide ongoing engagement and training for over 1,000 smallholder vanilla farmers in Ankavanana, Madagascar, as the companies aim to improve their livelihoods and protect their environment. Through working closely with the farmers, the companies aim to teach good agricultural practices and budget/cash flow management. According to Symrise, this will empower farmers to run their farms in a sustainable way and be more financially resilient in a volatile market. “The programme drives impact directly at the source of vanilla farming via our integrated supply chain,” said Yannick Leen, global competence director vanilla at Symrise. He added: “The partnership highlights the value of our active and collaborative year-round presence in this unique region. In turn, it ensures the highest quality vanilla, brings certainty and creates shared value for farmers, as well as ensuring sustainability of supply.” Symrise’s approach also includes training and education within the communities and the introduction of alternative crops such as patchouli, vetiver and ginger. This is said to add diversity and mitigate risk. As part of the joint project, Kellogg is said to bring extensive experience of Climate Smart Agriculture. Kellogg Company chief sustainability officer, Amy Senter, said: “Responsibly sourcing our ingredients means making a difference from the very start. That’s why we’re working closely with the farmers who grow them. “Farmers like those in Madagascar aren’t just growing vanilla for people around the world, they’re cultivating healthy soils, diverse ecosystems and strong communities. And across Kellogg, we want to help them do even more.”

Scottish craft brewer BrewDog has launched a new limited-edition Punk IPA in partnership with two UK dog charities, as it aims to secure more homes for canines. The brewer’s latest commitment to support charities will see its Punk IPA transformed and renamed for a short period to Street Dog. Each 330ml can will showcase profiles of dogs currently in the care of Dogs on the Streets and All Dogs Matter, with the intention of finding them new homes. The collaboration was inspired by comedian and advocate for homeless canines, Ricky Gervais, following his ‘shout out to BrewDog’ on Twitter earlier this month as he urged businesses to donate to charity. James Watt, co-founder of BrewDog, said: “At BrewDog we are always looking for ways to use our business to do good. When Ricky tweeted us with a genuine endorsement for Punk IPA, we wanted to use our platform to donate to causes he’s passionate about. “We then decided to take it one step further and not only donate the profits from our Street Dog cans, but give our pawsome four legged friends over at Dogs on the Streets and All Dogs Matter, space on our cans to help them find forever homes.” 100% of all the profits generated from the sales of Street Dog will be split evenly between the two charities. Ira Moss, founder of All Dogs Matter added: “We have seen a big loss in income due to the ongoing pandemic, so we are thrilled that BrewDog is helping raise awareness of our work through this collaboration. "Sadly, there are many unwanted and abandoned dogs needing homes across the UK and this campaign is a creative way of highlighting the importance of adoption instead of buying a dog.” Street Dog is available to pre-order in packs of 12.

AB InBev took a $2.5 billion write-down in the value of its African operations due to market risks, as the company's Q2 earnings were significantly impacted by the Covid-19 pandemic. The owner of major beer brands including Budweiser, Stella Artois and Beck's reported falling beer sales throughout April and May, with volume sales declining 32.4% and 21.4% respectively; though the company did experience a sales recovery in June, as volumes grew by 0.7%. AB InBev's year-on-year Q2 revenue declined by 17.7% to $10.2 billion, with a revenue per hl decline of 0.6%, driven by restrictions related to the Covid-19 pandemic. For the first half of the year, revenue declined by 12% to $21.2 billion, though revenue per hl did actually increase by 1.6%. The $2.5 billion impairment charge followed an internal review of the impact of Covid-19 on its business. AB InBev concluded that, under a worst-case scenario, the value of its operations in the company's African units would be valued less than their previous book value following the firm's acquisition of SAB Miller in 2016, and so the company opted to write-down the value of these operations. Global pre-tax earnings fell 34.1% in the quarter to $3.41 billion, while earnings for the first half of the year declined by 24.7% to $7.36 billion. The company stated that the re-opening of bars and the on-trade in European markets served to boost sales volumes towards the end of the quarter, while ecommerce and beer sales from direct-to-consumer platforms increased during the quarter. Jason Warner, Europe president at AB InBev, said: "As restrictions began to ease in many European markets towards the end of the second quarter, our support for our customers in the on-premise channel evolved towards a successful re-opening. "We continue to see strong growth in the e-commerce channel, both through our direct-to-consumer platforms and our partnerships with major global online retailers. Our owned e-commerce beer store portfolio in Europe more than doubled compared to the prior year, with our consistent focus and investment in this area providing us with a structural advantage to lead online beer sales."

Halewood Wines & Spirits-owned spiced rum brand, Dead Man’s Fingers, has expanded its portfolio with the launch of four new variants. The new flavours are designed to appeal to existing rum lovers, while also attracting new consumers to the category: Lime combines the ‘citrus aroma’ of limes with hints of caramel; Raspberry is a ‘sweet fruity’ offering with a touch of citrus; Passionfruit features a hint of mango; and Hazelnut combines ‘toasty nut aromas’ with vanilla and chocolate. With an ABV of 37.5%, the brand’s latest rums can reportedly be served simply with a mixer and garnish, or in a range of cocktails. The new flavours join existing variants in the Dead Man’s Fingers range, including: Pineapple, Coconut, Coffee, Hemp, and the original Spiced Rum. “Over the past couple of years, we’ve seen the Dead Man’s Fingers brand go from strength to strength, and are keen to build on our trusted reputation to bring drinkers the most extensive flavoured rum portfolio on the market,” said Sam Caulfield, brand manager for dark spirits at Halewood Wines & Spirits. “Our new offerings have been carefully developed to reflect the latest flavour trends, whilst also tapping into the popularity of the UK’s most-loved cocktails and turning them on their heads. “So whether it’s a Mojito with our Lime rum, a Pornstar Martini with Passionfruit rum, or even a simple Raspberry Spritz with lemonade, we’re confident that Dead Man’s Fingers will have something for everyone this summer (and beyond!) – attracting new consumers into the category, and as such, representing a significant sales opportunity.” The new flavour variants are available for an RSP of £22 per 70cl bottle.

Kellogg, in partnership with family-owned peanut butter maker Duerr’s, has announced the launch of Crunchy Nut Peanut Butter to UK stores this weekend. With both businesses headquartered in Manchester, the collaboration aims to tap into the growing peanut butter market and create a product that combines two breakfast favourites. The peanut butter reportedly features a smooth texture combined with crunchy, honey coated roasted peanuts to replicate the flavour of the popular cereal brand. Kellogg’s Crunchy Nut saw a year-on-year sales increase of 43% and the food giant hopes to enter a wider range of occasions with its brand, in addition to breakfast.   “Crunchy Nut is regularly hailed as the UK’s favourite cereal and we have seen huge sales increases over the last few months, with more shoppers having breakfast at home,” said Ben Simpson, revenue and channel director at Kellogg’s UK. He continued: “Knowing the popularity of the cereal, launching Crunchy Nut Peanut Butter allows us to meet a wider range of consumer occasions and it’s been great to work with another Manchester-based business in Duerr’s to make that possible. With recent data revealing peanut butter sales have overtaken jam, we’re confident that the launch of Crunchy Nut Peanut Butter will prove to be a popular one.’’  Since 1881, Duerr’s has been manufacturing jam and marmalade and entered the peanut butter category in 1989. Richard Duerr, sales and marketing director at Duerr’s, added: “The peanut butter category is a huge area of growth, with sales currently booming. We’re extremely proud to have teamed up with another Manchester giant to create this exciting product that marries together two hugely popular breakfast staples to create the ultimate treat.” Crunchy Nut Peanut Butter will be available to purchase in Sainsbury’s stores nationwide from 19 July for an RRP of £2.50.

Unilever-owned Ben & Jerry’s has launched a new limited-edition flavour in partnership with Netflix that celebrates space. Available in pint tubs, Boots on the Moooo'n features milk chocolate ice cream with cow-shaped fudge, toffee meteors and a sugar cookie dough core. The ice cream is inspired by the new Netflix comedy series, Space Force, which premieres tomorrow. Boots on the Moooo'n is the third flavour introduced in partnership with Netflix following Netflix and Chill’d – featuring peanut butter flavoured ice cream with pretzel pieces and chunks of fudge brownies – and Chip Happens, which is made of chocolate ice cream with fudge chips and potato chip swirls. Netflix and Chill’d is also available as a non-dairy frozen dessert.   Boots on the Moooo'n will be available for a limited time in retailers and participating scoop stores as they re-open across the US with an RRP of $4.99. Earlier this year, Ben & Jerry’s released a new range of dairy-free frozen desserts made with sunflower butter and added chocolate chocolate chip cookie dough and half baked chunk to its range of snackable Cookie Dough Chunks.