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Subject:
FOOD BUSINESS NEWS
Period: August 1, 2021 to August 8, 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  

U.K.’s Wholebake Has New Parent Company

The 37-year-old Welsh B Corp. and manufacturer of BFY snacks is looking forward to the future after its parent company, Healthfull Holdings Group Limited, was acquired by private equity firm Elysian Capital III LP from Bridge Fund Management. Wholebake is a co-manufacturer of functional snacks for weight management, sports nutrition, toddler snacking, healthy indulgence, vegan-friendly, digestive health, and mainstream better-for-you brands, along with its own brands Brynmor, Nine, and Bounce. The deal is the second investment in the past month from Elysian Capital, a private equity fund specializing in the U.K. and Ireland lower mid-market. Elysian is especially interested in the snack bar market as consumers transition away from traditional confectionery into tasty and healthier alternatives.

"Functional gluten-free snack producer set for next phase of growth under new ownership", BakeryAndSnacks.com, August 03, 2021

Kellogg's RX Unveils Cereal Containing Plant-Based Protein

RX Cereal, available in chocolate almond, vanilla almond and strawberry, uses a mix of pea protein, almonds, and brown rice to provide protein. Each serving of the cereal contains 11 to 12 grams of protein and three to four grams of fiber depending on the flavor. The cereals also are made without artificial colors, flavors, ingredients, or preservatives. RX says its new cereal is also a good afternoon snack that consumers could enjoy as a cereal or more like a granola. Kellogg changed the name RXBar to RX in 2019 as part of a push to expand into new product lines. 

"Kellogg's RX brand launches protein-rich cereals", Food Dive, July 20, 2021

Consumers  

Wide Variety Of Snacks Meets The Needs Of Post-Pandemic Shoppers

After enduring more than a year of COVID-19 pandemic stress and anxiety, consumers are prioritizing health and safety more than ever before. Online and in-store shoppers are looking for better-for-you nourishment by scanning labels, zeroing in on unfamiliar ingredients, skipping items loaded with sodium, sugar, and fat, and looking for as many health benefits as possible in every snack or meal. Among the sought-after foods and snacks in “the new normal,” as reported by various grocery retailers and experts, are: dates; low-sugar chocolate bars, sour cream and onion protein puffs, and ketogenic malted milk balls; fruit and nut snacks made with simple ingredients; salty and savory snacks (including ready-to-eat popcorn); chickpea chips, green plantain chips, keto bars, refrigerated snack solutions, and ready-to-eat meat (sticks, jerky, and bacon to go).

"The New Normal for Snacks", Progressive Grocer, July 22, 2021

Deals, M&A, JVs, Licensing  

Quinn Snacks Snags $10M In Second Funding Round

The Louisville, Colo.-based natural foods snack company said the Series B round was led by growth equity firm NewRoad Capital Partners, and includes follow-on investments from Boulder Food Group, Echo Capital, and Sunil Thakor. The funding will support growth, product innovation, and the company's “Be Better. Do Better” sustainability mission centered on advancing agriculture toward more regenerative approaches. Quinn salty snacks are sold in more than 10,000 stores across the natural, mass, and conventional grocery channels as well as ecommerce. The company has experienced 60 percent growth in revenue year over year since 2019. 

"Mission Based Snack Brand, Quinn, Secures $10 Million in Series B Round", PR Newswire, July 21, 2021

Market News  

India’s The Whole Truth Raises Nealy $6 Million In 2nd Funding Round

The Bengaluru-based clean label health food brand’s new financing round, its second, was led by Sequoia Capital and included existing backers along with eight angel investors. Matrix is the largest stakeholder among investors with 20.17 percent while Sequoia picked up 10.37 percent by leading the round. According to Fintrackr’s estimate, The Whole Truth has been valued at $27.5 million (post-money) in the Series A round. The company positions itself as a healthy and clean snack brand with a portfolio of protein bars, immunity balls, and muesli. The company offers subscriptions and claims to have 80-85 percent sales through its website and remaining from partnerships with gyms and health clubs.

"Sequoia leads Series A round in snack brand The Whole Truth", Entrackr, August 24, 2021

Marketing & Advertising  

Nightfood Holdings Launches First TV Ad Campaign

The Tarrytown, N.Y.-based BFY snack company, looking to grab a bigger share of the $50 billion that Americans spend annually on night-time snacks, announced it is running its first video ads on connected TV and “over-the-top” TV to consumers across the country. Nightfood sleep-friendly ice cream is now available in almost 2,000 supermarkets across the U.S., including Walmart and divisions of Kroger, Albertson’s and H-E-B, Rouses Markets, Lowes Foods, and other independent chains. Ads will appear on over-the-top TV (OTT) and connected TV (CTV) and will reach users of popular ad-supported network services such as Hulu, Roku, FUBO, Sling TV, as well as apps such as ESPN, A&E, Fox, Discovery Channel, and more. According to the company, more than 80 percent of Americans snack regularly at night. The most popular choices are ice cream, cookies, chips, and candy.  

"Nightfood Launches Connected TV Ad Campaign to Capitalize on Significant Retail Expansion", Globe Newswire , July 21, 2021

Products & Brands  

Naturally Homegrown Foods Honored For Its BFY Potato Chip Multipack

The Surrey, B.C.-based natural snack food manufacturer was awarded the 2021 Retail Council of Canada's Canadian Grand Prix New Product Award for its Hardbite "Explorer Pack," a 32-count package comprising some of the company’s bestselling Hardbite potato chip flavors:  Rock Salt & Vinegar, Spicy Dill Pickle, and Wild Onion & Yogurt. The company’s anchor brand, Hardbite, is a kettle fried chip that is allergen-free, non-GMO, and contains no preservatives, no trans-fats, no gluten, no cholesterol, and nothing artificial. The Retail Council of Canada's annual awards program, the Canadian Grand Prix New Product Awards, celebrate advancement and excellence in new food distribution and innovation. 

"Naturally Homegrown Foods' "Hardbite Explorer Pack" Wins Prestigious Award", Canada NewsWire, July 22, 2021

Trends  

Survey Finds Solid Majority Of Consumers Would Pay More For Healthier Snacks

A survey of 270 U.S. consumers found that more than 85 percent would be willing to pay more for a healthier product in a post-pandemic world. The study, commissioned by Reno, Nevada-based Mary's Gone Crackers, a marketer of organic, gluten-free, and plant-based crackers.  Asked what they associated with a healthy snack, organic, plant-based, low sugar, and protein-rich were the top contenders. Fifty-nine percent reported that they have set out to improve or change their diet in the post-pandemic era. And 14 percent said that intermittent fasting has become a popular form of dieting. 

"Quality Matters: Mary's Gone Crackers Consumer Survey Reveals Around 85 Percent Of Consumers Are Willing to Pay More for Healthier Products", PR Newswire, July 22, 2021

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