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Subject:
FOOD COMPANIES
Period: February 1, 2021 to February 15, 2021
Geographies:
Worldwide
Categories:
Comment & Opinion or Companies, Organizations or Consumers or Controversies & Disputes or Deals, M&A, JVs, Licensing or Earnings Release or Finance, Economics, Tax or Innovation & New Ideas or Legal, Legislation, Regulation, Policy or Market News or Marketing & Advertising or Other or People & Personalities or Press Release or Products & Brands or Research, Studies, Advice or Supply Chain or Trends
Contents
 

Promising Healthy Dried-Beef Snack Platform Stryve Foods Gains NASDAQ Listing

The Plano, Texas-based company that specializes in protein-rich, low-sugar, dried beef snacks announced it will merge with publicly traded Andina Acquisition Corp. III (NASDAQ: ANDA) to become a public company listed on NASDAQ under the ticker symbol SNAX. The companies say they have agreements with institutional investors for an oversubscribed common stock private-investment-in-public equity (PIPE) of $42.5 million at $10 a share. Stryve also borrowed $10.6 million from investors “for general working capital purposes.” The bridge note for the loan will convert into common stock prior to closing. Stryve’s so-called “disruptive” snack platform features air-dried meats, mostly beef, including biltong from South Africa and carne seca from Latin America. Air-drying meat vs. cooking, as is done with beef jerky, yields a product that has 40-50 percent more protein per serving than beef jerky, the company claims. Stryve’s meat snacks are made with 100 percent uncooked beef, contain no sugar, ...  More

"Stryve Foods LLC, an Emerging Healthy Snacking Platform, to list on NASDAQ through business combination with Andina Acquisition Corp. III", Globe Newswire , January 29, 2021

 
Companies, Organizations  

Young Indian Entrepreneurs Launch Snack Crafted From Water Lily Seeds

With the help of a London, Ont.-based business incubator, two kinesiology students at Canada’s Western University have launched Arise N’ Go, which offers a popped water lily seeds snack. The product was inspired by Sucheta Khuranan’s family history in India and a mother trying to look out for her daughter. The water lily seeds are roasted, not cooked in oil, and are light and crunchy like popcorn; but have less fat, fewer calories and 50 percent more protein than popcorn. With three flavor combinations, they are sold in 11 stores and two markets in the London area. They are also available online. The two student entrepreneurs say they are already making plans for further expansion.

"It's a snack with a unique source, but it may be a perfect fit for life in a pandemic", CTV News London, February 01, 2021

Kellogg Debuts Vegan Snacks For Children – By Children

The Michigan-based breakfast cereal company is launching a healthy vegan snack line in the U.K. purportedly created by kids. The W.K Kellogg by Kids Bars comes in orange & carrot and strawberry, raspberry & beetroot flavors. The 100-calorie bars are available at Morrisons grocery stores in the U.K., retailing at £2.49 ($3.39) for a five-pack. More grocers will stock the products in the coming months. 

"Food Giant Kellogg’s Launches Vegan Snack Range Created By Kids", Plant Based News, January 29, 2021

Brand Finance Says Coca-Cola Knocks Disney Out Of Top Spot

The London-based consumer brand evaluation company ranks Coca-Cola as the strongest brand in the U.S., despite a drop in value, because of its marketing investment, customer familiarity, staff satisfaction, and corporate reputation. Coca-Cola scored 91.7 out of 100 on a brand strength index score, though its brand value decreased 13 percent to $33.2 billion. The beverage giant toppled Disney from the top spot – it fell to fourth – after its brand value decreased nine percent to $51.2 billion. PepsiCo, whose brand strength index score was 88.4. was ninth in the U.S. as its brand value dipped three percent to $18.4 billion. 

"Coca-Cola gains top brand ranking in United States", Food Business News, January 29, 2021

Kind Snacks Combats Impulse Purchase Decline With U.K. Multipacks

The New York-based company will launch core flavors in the U.K. in three-pack formats. Peanut Butter Dark Chocolate, Caramel Almond Sea Salt, and Dark Chocolate Nuts & Sea Salt will be available at Sainsbury's and Morrisons this month. Coconut & Almond and Salted Caramel Dark Chocolate will arrive at Waitrose in late February. Impulse sales of Kind products have fallen during the pandemic, while multipacks are seeing "the most significant growth."  Free-from snack brand Livia's experienced a similar trend in October of last year when it launched three-packs of its Million Squares and Nugglets ranges a year ahead of schedule. 

"Kind Snacks places faith in multipacks to combat impulse decline", thegrocer.co.uk, January 28, 2021

Canada’s Entomo Farms Raises Nearly $3M

The Ontario-based maker of cricket-based protein powders, roasted crickets, and insect-based snack bars has closed a US$2.9 million funding round to support growth and expansion. The round, led by investors in Asia and Canada, will be followed late this year by another capital-raising effort, the company said. Maple Leaf Foods, Canada's largest protein-centric packaged goods company, took a minority stake in the business in 2018. Entomo also has relationships with Crickstart, a Canadian company making protein bars, gourmet crackers, and smoothie mixes from cricket powder, and with Human Improvement, described as "an innovative health and wellness brand."

"Canadian insect firm Entomo Farms secures new funding", just-food global news, January 27, 2021

Finance, Economics, Tax  

PeaTos Marches On With $12.5M Investment From Post Holdings

The Los Angeles-based chip brand, on a mission to loosen Cheetos’ stranglehold on the salty snack market, and less than six months after raising $7 million in a Series A round, has convinced Post Holdings to lead a $12.5 million Series B round of funding. PeaTos adds nutrient-dense peas to the traditional corn base and replaces artificial colors and flavors with more natural ingredients. The company says its snack has “all the flavor and fun” of Cheetos and Doritos, but with the nutrient claims of better-for-you options. PeaTos have twice the protein and three times the fiber of traditional salty snacks. The brand is available in more than 4,700 retailers, including Kroger and its affiliate stores, Vons, Pavilions, Albertsons, Safeway, Sprouts, and Sam's Club. 

"Rapidly Growing Disruptive Snack Brand PeaTos Secures Cereal Giant Post Holdings to Lead $12.5M Series B Round", Business Wire, February 02, 2021

Marketing & Advertising  

$5M Super Bowl Ad Budget For Mr. Peanut Diverted To “Pay It Forward” Campaign

The Kraft Heinz Company’s snack brand Mr. Peanut – recently dubbed Baby Nut – has launched a promotional campaign that implements “a new purpose to pay it forward to put more substance into the world” and “search out the good.” The company says it will spend its $5 million Big Game (i.e., Super Bowl) ad budget not on advertising but to recognize and reward “the little acts of extraordinary substance across the country.” According to Kraft Heinz, the Mr. Peanut is “officially back with a new purpose to pay it forward to put more substance into the world.” Examples: a Chicago couple who donated their canceled wedding's catering to those in need on Thanksgiving and a Florida man who paid his neighbors' past-due utility bills.

"Mr. Peanut Shelling out $5 Million to Reward Little Acts of Extraordinary Substance Starting Big Game Week", Business Wire, February 01, 2021

Other  

Snack Brands Enlist Hollywood Stars As Investors, Promoters

Joining bakery companies promoting bread and other products, snack brands have enlisted the help of big-name celebrities to invest in, and promote, their products among “star-struck consumers.” Some notable examples: Bonilla a la Vista’s Patatas Fritas saw sales surge150 percent after the potato chips were shown in the thriller Oscar-winner “Parasite;” the dried meat snacks of Stryve Foods were endorsed by actor/producer Channing Tatum and Los Angeles Chargers quarterback Justin Herbert, both of whom have invested in the company; Oreo has become an official sponsor of Lady Gaga’s Born This Way Foundation and will be rolling out limited edition Lady Gaga-themed Oreo cookies inspired by the album Chromatica; and Black female-founded snack brand Partake Snacks landed Grammy Award winner Rihanna as a participant in a $4.8 million series A funding round.

"The bakery and snack brands aiming for the stars by banking on big Hollywood names", BakeryAndSnacks.com, January 29, 2021

Products & Brands  

N.C. Entrepreneur Creates “Macronutrient”-Rich Snack

A Charlotte entrepreneur and fitness buff who was having a hard time finding a snack chip good for his body has developed Macro Snacks, a gluten-free, vegan-friendly chip that comes in seven flavors. Each bag of Justin Wiesehan’s Macro Snacks has 11 to 12 grams of protein and a 45/35/20 carb/protein/fat ratio, making it easier for those who track macronutrients in their diet (or just want to eat a healthy snack). The seven flavors are based on popular snacks, Wiesehan says: BBQ Sauce, Pizza Pie, Churro Loco, Cheddar Cheese, Rockin' Ranch, Sour Cream & Onion, and Spicy Chili Lime. The brand was recently chosen out of more than 100 applicants to participate in an Austin, Texas-based accelerator program called SKU that began last week.

"Local entrepreneur strives to offer healthy, tasty snack option with startup Macro Snacks", Charlotte Business Journal (North Carolina), February 01, 2021

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