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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.
A group of food industry titans have banded together and invested $200 million to form the LiveKindly Co, a platform company that seeks to move the world toward plant-based eating.
Meanwhile, the global uncertainty caused by the novel coronavirus has led to an unprecedented upheaval to the food industry. Key trade shows have been postponed or cancelled, grocery supplies have been rationed, and companies are warning investors of the threat it poses to their earnings. Following news of Expo-West’s postponement, Indie CPG published a list of resources to help support brands. Meanwhile, businesses are bracing the impending economic downturn as they watch countries abroad shut down commercial activities and close borders.
Check out our weekly round-up of last week’s top food startup, tech and innovation news below or peruse the full newsletter here.
A group of food industry titans banded together to form a new platform company for plant-based meat — the LiveKindly Co. — that seeks to move the world toward plant-based eating through an opening $200 million investment, as well as brand acquisitions, investments in similarly aligned companies and an online advocacy platform.
Indie CPG curated a list of resources to help support brands impacted by the cancelation of Expo West.
All shops, bars and restaurants were forced to be shut down. Farms and factories can still produce food and products, but will be required to adopt safety measures.
Fulcrum raised the fund from high net worth investors to support early-stage animal health, precision agriculture, food safety and supply chain logistics.
Falling prices for industrial wholesale goods combined with decade-high consumer food inflation present Chinese policy makers with a worsening dilemma as the virus freezes economic activity.
The airport hospitality group operates more than 350 restaurants and retail locations in North American airports. The first store, CIBO Express Gourmet Market, will open March 16 in Newark’s Liberty’s Termincal C.
US Foods expects to see $20m in annual run-rate cost synergies by 2024, primarily through purchasing efficiencies and the expansion of private brand products.
The company has not determined the number of shares it plans to offer or the price range it seeks for the offering.
Pepsi and its rival Coca-Cola have been pushing into energy drinks as soda consumption declines in the US.
Novalis LifeSciences and existing investors participated. Funding will be used for the further development, registration and commercial-scale production of Biotalys’ biofungicide product and to continue to expand and build the company’s platform.
Financial terms were undisclosed. The round brings the company’s total financing to $70m.
Timothy Barakett’s family office, TOMS founder Blake Mycoskie, and Tastemaker Capital Partners participated in the round. Athletic Brewing Company will use funding to purchase a San Diego brewery.
Schools in three states so far have closed to try to prevent exposure to COVID-19. School lunch groups are asking USDA to ensure students get access to meals.