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Subject:
FOOD BUSINESS NEWS
Period: January 31, 2021 to February 7, 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
 
Companies, Organizations  

Cash Infusion Will Help Fuel Plantain Snack Company’s Move Into Mainstream Markets

The British investment firm S-Ventures has acquired a majority share of We Love Purely with a goal of speeding its move into the mainstream snacking sector. We Love Purely has experienced solid online sales growth during the pandemic with its range of healthy plantain snacks. It has now begun selling in retail outlets in the U.K. and abroad, including Harrods, Selfridges, Harvey Nichols, Ocado, Holland and Barrett, Spinneys in Dubai, and The Craft Gin Club. The chips contain 30 percent less fat than typical potato crisps and no palm oil. They are made in Ecuador from locally sourced plantains to support local communities and provide income for small farmers.

"Ecuadorian sustainable snacking brand gets another cash injection", BakeryAndSnacks.com, January 26, 2021

Bubba's Fine Foods Introduces Six Keto Snacks Online

The Loveland, Colo.-based grain-free snack company has launched six keto nut mixes and three keto granolas, available on their Amazon store. The 1.2-ounce nut mix packs feature a seasoned blend of walnuts, pecans, and healthy seeds containing as much as seven grams of protein, three grams of net carbs, and 19 grams of nutritious fats. Flavors include Pepperoni Pizza, Traditional Recipe, and Sour Cream & Chive. The sweet glazed nut blends come in Chocolate Chip Cookie Dough, Maple Cinnamon Praline, and Thai Sweet Chili. The new keto granolas are made with coconut, sunflower seeds, walnuts, flax seeds, and chia seeds and come in Lemon Blueberry Tart, Maple Cinnamon Crunch, and Double Chocolate Chip flavors.

"Tasteful Ingredients Meet Bad Boy Spices in New Keto Snack & Breakfast Mixes", Yahoo!, January 26, 2021

Native Snacks Widens Distribution Network In U.K.

The London-based better-for-you snack producer’s aggressive strategy to become a serious player in the mainstream savory snacks area includes expansion of its U.K. distribution network by 1,500 percent. The company has secured listings with Sainsbury’s, Holland & Barret online. and Ocado for its range of better-for-you Popped Lotus Seeds. The seeds are roasted rather than fried and contain fewer than 90 calories a pack, 60 percent less fat than regular potato crisps, and are protein rich, vegan, and low GI, with no artificial ingredients, or preservatives. They are also free of allergens, gluten, palm oil, MSG, and GMOs. To further its overall strategy the company has also implemented a rebrand and hired a commercial consultant to provide guidance on driving snack sales.

"Native Snacks expands retail footprint by 1,500 percent", BakeryAndSnacks.com, January 22, 2021

Private Equity Firm Buys Majority Stake In U.K. Snack Maker

London-based Exponent Private Equity has acquired a majority interest in snack maker Proper, whose revenues soared 50 percent in 2020 despite the pandemic-caused loss of out-of-home sales of its popcorn and better-for-you lentil chips.  Exponent will combine Proper with its Eat Real brand to form a new company under a new joint CEO whose mission will be to become a powerhouse in the BFY snack category. Eat Real has a range of lentil, quinoa, and hummus chips and is part of the Indian snacks group Cofresh, which Exponent acquired in June 2020 and incorporated into its Vibrant Foods platform.

"Proper joins forces with Eat Real in new Exponent healthier snacking play", thegrocer.co.uk, January 22, 2021

Consumers  

China’s Skin-Boosting Snack Market Set To Take Off

Young Chinese consumers fanatical about beauty and skincare have become obsessed with skin-boosting snacks. The trend is part of a broader one in which appearance pressure in a stressful work culture has driven the growth of beauty products that promise convenience, comfort, and effectiveness. That includes delicious snacks with a good-for-your-skin appeal, such as bird’s nest jelly desserts, anti-sugar gummy candies, and collagen energy bars. Estimated to become a $3.7 billion industry by 2022, China’s skin-boosting snack market promises untapped growth potential for international and domestic brands, according to industry observers. 

"The New Wellness Trend In China Is Beauty Snacks", Jing Daily, January 25, 2021

Deals, M&A, JVs, Licensing  

Founder Of KIND Snacks Invests In Quevos

KIND Snacks founder Daniel Lubetzky says he is investing in Chicago-based egg white protein snacks company Quevos. During 2019-2020, Quevos’ sales grew 400 percent as distribution expanded from 250 to 1,100 retailers despite the pandemic. The crunchy chips come in Sweet Barbeque, Cheddar, Quevos Rancheros, and Sour Cream & Onion flavors, and also contain pea protein, avocado oil and chia seeds. Each bag provides around 10 grams of protein and six grams of fiber. The keto line has only two grams of net carbs per bag. “There’s no reason why these chips should not be everywhere,” says Lubetzky, who sold his nutrition bar company to Mars & Wrigley last year in a reported $5 billion deal.  

"KIND Snacks Founder Daniel Lubetzky Announces Investment In Protein Chips Company Quevos On Shark Tank", Forbes Media, January 22, 2021

Finance, Economics, Tax  

The Craftory Puts $50M Into Chickpea Snack Firm

The London-based investment firm has invested $50 million in HIPPEAS Organic Chickpea Snacks, which will use the cash to boost innovation, expand production, increase distribution, and “amplify its positive impact.” HIPPEAS debuted in 2016 in the U.S. and the U.K., with a line of Organic Chickpea Puffs. The brand has since launched chickpea-based Organic Tortilla Chips. Both lines are USDA organic, certified gluten-free, and vegan. The Chickpea Puffs are sold at Starbucks, Whole Foods Markets, Target, CVS, Wegmans, Stop & Shop, Kroger, Albertsons, Safeway, Thrive Market and on Amazon.com. The chips are sold on Amazon and at Whole Foods.

"Spreading the PEAS & Love: The Craftory Invests $50M in HIPPEAS Organic Chickpea Snacks", PR Newswire, January 26, 2021

Other  

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

Products & Brands  

Watch For These Three Trends In Snack Ingredients

Food ingredients company Olam expects to see snack companies innovating to meet a growing consumer desire for three types of treats: those that recall better times by playing on nostalgia, those that double-down on indulgence by offering novel experiences and comfort, and those with functional ingredients that support physical well-being, such as immunity boosting. The trends are not mutually exclusive. A major trend this year will be indulgent snack foods mashed-up with other foods. For example, mixing a healthy trail mix snack with M&Ms, or adding popcorn and chips to cookies, s’mores added to brownies, etc. 

"‘Wellness’ inspires emotionally-soothing indulgent snacks alongside immunity-boosting options", FoodNavigator-USA.com, January 26, 2021

Uprising Food Debuts Line Of Keto Chips

The Ohio-based company best known for its grain-free keto bread has launched a line of crispy keto chips made with flaxseed, almonds, egg whites, MCT oil, and olive oil. Available in Sea Salt and Savory Rye flavors, the chips are grain-, dairy- and soy-free and contain six grams of protein and nine grams of fiber. The products are sold on the company website individually or on a subscription basis. 

"Uprising Food, Famous for Its Superfood Bread, Now Has Keto Chips", Pure Wow, January 22, 2021

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