Food Venture Financing News - Weekly Issue No. 82
In This Issue:
- Food Venture Financing Trends
- CPG Corporate Venture and Private Equity Funds
- Links to Relevant Content and Events
Food Venture Financing Trends
- Hershey announced that it recently purchased Dot's Homestyle Pretzels and Pretzels Inc. for $1.2 billion. This acquisition will expand Hershey's presence in the snacks market.
- Blue Horizon announced its commitment to investing in alternative protein technology companies as a way to promote sustainability and animal welfare. It will provide networking and operational support for its portfolio companies.
- Oatly lowered its 2021 revenue projections from $690M to $635M. While 2021 revenues exceed 2020 revenues by more than 50%, the revised 2021 target is due to inflation, slower production in the U.S., and the effects of COVID-19 in Asia.
- Beyond Meat reported a net loss of $54.8M in Q3 of 2021, resulting in a 13.9% dip in U.S. revenues but a 142.5% growth in sales internationally.
CPG Corporate Venture and Private Equity Funds
This week's featured program is Anheuser-Busch (ZX Ventures).
- ZX Ventures was launched in 2015 as the global investment and innovation group of AB InBev, the leading global brewer.
- ZX Ventures provides its portfolio companies and best-in-class entrepreneurs and operators with access to AB InBev's network of subject matter experts, supply chain capabilities, route-to-market expertise, marketing properties, and partnerships to help them grow their businesses.
- Growth Equity Fund, which focuses on Agile Industry, Circular Solutions, and Direct to Consumer
- New Venture Fund, which invests in early-stage (Seed through Series B) ventures across Circular Ventures, Future of Socialization, and Agile Industry
- The Beverage Fund, which seeks to build a pipeline of high potential brands driving and accelerating the Company's beverage portfolio transformation
- Portfolio companies include:
- Flying Fish Seltzer
- Mike's Hard Seltzer
- Super Coffee
- Ugly Drinks
Links to Relevant Content and Events
- The Naked Market Raises $27.5 Million in Series A Funding
- Bond Pet Food Teams Up With Hill's to Make Meat Protein for Pets Using Precision Fermentation
- FloWaste Raises a $1.1 Million Pre-Seed Round to Reduce Food Waste With Machine Learning
- AKUA Lands $3.2 Million to Turn Kelp Into Burgers
- Bioenergy Devco Raises $100 Million to Build Anaerobic Digesters Across North America
- Growers Edge Acquires Farmlandfinder Software Assets
- Supernatural Completes $1.5 Million Seed Round
- Hershey Buys Dot's Homestyle Pretzels and Its Co-Manufacturer for $1.2 Billion
- How Blue Horizon Uses Food Tech Investments to Further Sustainability
- Oatly Lowers FY Revenue Forecast Following 'Temporary Setback' at Utah Plant, COVID-19, Driver Shortages; Plans Frozen Novelty Launch in U.S.
- Beyond Meat CEO Blames 'Largely Transitory Dynamics' for -13.9% Decline in U.S. Revenues, Offset by Triple-Digit Growth Overseas
EVENTS & OPPORTUNITIES
Naturally Bay Area's 2021 Quick Bites Series:
The Hottest Trends in CPG Retail Marketing - Online-to-Offline Marketing
Wednesday, December 1, 12:00 - 12:45 p.m. PST
Hear from Social Nature and learn about O2O marketing—the full commerce cycle that builds targeted online consumer demand, converts it to in-store traffic and sales, then brings consumers back online to get feedback and build loyalty.
At DWT, we are proud to have one of the largest Food + Beverage legal practices in the country, with over 40 attorneys representing food innovators, entrepreneurs, and investors at every level of the food chain, from Farm to Label.
The facts, laws, and regulations regarding COVID-19 are developing rapidly. Since the date of publication, there may be new or additional information not referenced in this advisory. Please consult with your legal counsel for guidance.
DWT will continue to provide up-to-date insights and virtual events regarding COVID-19 concerns. Our most recent insights, as well as information about recorded and upcoming virtual events, are available at www.dwt.com/COVID-19.