Every week we track the business, tech and investment trends in CPG, retail, restaurants, agriculture, cooking and health, so you don’t have to. Here are some of this week’s top headlines.
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After last week’s announcement of Indra Nooyi’s planned resignation, PepsiCo announced two major developments prior to her leave: a $3.2 billion buy out of Sodastream and the launch of its internal incubator, The Hive.
In restaurant news, DoorDash raised $250m led by Coatue Management and DST Global, tripling its value at $4 billion in less than 5 months. In its first venture into the startup space, Chipotle has launched an accelerator focused on alternative farming, agriculture technology, food waste and plant-based alternatives.
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PepsiCo plans to extend the company synonymous with sugary sodas into the homes of more health-conscious consumers. The deal is likely CEO Indra Nooyi’s last transaction.
The company raised $250m led by Coatue Management and DST Global, valuing it at $4b. It plans to use the funds to expand to every city in the US and Canada, as well as to grow the number of restaurants on its platform.
The program, called the Chipotle Aluminaries Project, will be focused on alternative farming, agriculture technology, food waste and plant-based alternatives.
Boxed has raised $110m from Aeon Group, one of the largest retail chains in Japan, alongside Alpha Square Group and CDIB. The company’s state-of-the-art fulfillment centers feature a custom software system and roving bands of autonomous carts.
The Hive will foster smaller brands that already exist within the company like Maker Oats and Stubborn Soda, as well as create new ones that play on emerging trends.
The $300m acquisition is led by Act III Holdings, headed by Ron Shaich, the founder and former CEO of Panera Bread. With this deal, Cava is poised to become the dominant player in Mediterranean cuisine.
The Series B round was led by five undisclosed investors. Prior investors included Greycroft, Corazon Capital, Rally Ventures and Come Up Capital.
Existing investors Sweet Capital and ByFounders also participated in the round.
The Sill, a direct-to-consumer plant seller, just closed a $5m round of funding led by Raine Ventures. It is now looking to expand its reach into outdoor plants and target new customers.