Editor's Note
Food and beverage investors are shifting their attention to ingredient and manufacturing businesses. According to a recent report from PitchBook, private equity firms are increasingly focusing on these companies as growth becomes a bigger driver of returns. At the same time, large food and beverage companies continue to divest non-core assets and streamline their portfolios. As a result, businesses with differentiated ingredients, technology, and manufacturing capabilities may be particularly well positioned in the current market.
In This Issue:
- Food Venture Financing Trends
- CPG Corporate Venture and Private Equity Fund
- Links to Relevant Content and Events
Food Venture Financing Trends
- Ferrero Group entered into an agreement to acquire Purely Elizabeth, a granola and oatmeal brand, for approximately $850 million.
- Ranchbot, an agtech company building solutions for agriculture and water management, announced that it raised over $15 million in its Series B financing round.
- Millow, a startup using oats and mycelium to develop minimally processed meat substitutes, announced that it closed a $2.3 million financing round.
CPG Corporate Venture and Private Equity Fund
This week's featured corporate venture and private equity fund is 199 Ventures.
- In 2019, Hormel Foods launched its venture capital and incubator arm, 199 Ventures, to invest in and support industrywide innovation, with a particular focus on emerging food brands, alternative proteins, food technology, and sustainability.
- In 2021, The Better Meat Co. and 199 Ventures entered into an exclusive partnership focused on developing new meat alternative products using The Better Meat Co.'s fermentation-based mycoprotein ingredient, Rhiza, and bringing those products to market.
- In 2021, 199 Ventures became the anchor investor in Green Circle Capital's Foodtech Ventures I fund, with portfolio companies such as:
- The Better Meat Co.
- Imagindairy
- Goodmylk
- UNCAGED Innovations
Links to Relevant Content and Events
ARTICLES
- Actus Nutrition Adds 40 Million Pounds of Whey Processing Capacity
- Bongards' Creameries Invests $135 Million in Minnesota Cheese Facility Expansion
- Gay Lea Foods Invests More Than $200 Million to Expand Toronto Dairy Facility
- Metsä Group Invests €25 Million In Fibre-Based Food Packaging as Kuura Textile Project Is Halted
- Millow Closes €2 Million Funding Round to Expand Clean-Label Protein Production
- Solina Acquires Epicurean Butter
- Tyson Foods to Close Two Facilities and Sell Another Amid Beef Business Restructuring
UPCOMING EVENTS
Naturally San Diego
Naturally San Diego Member Happy Hour!
Thursday, September 3 | 5–7 p.m. PT
Location: Viewpoint Brewing Company, 2201 San Dieguito Drive, Del Mar, CA
Join Naturally San Diego for a community happy hour at Viewpoint Brewing Co., and connect with fellow founders, operators, service providers, and friends of the region's natural products and CPG ecosystem over craft beer, great food, and lagoon views.
Naturally Seattle
CPG Connect September (Seattle) - Life On Mars
Tuesday, September 8 | 6–8:30 p.m. PT
Location: Life On Mars, 722 East Pike Street, Seattle, WA
Join Naturally Seattle for an evening of meaningful connections, fresh ideas, and great conversations at one of Seattle's most unique gathering spaces. Naturally Seattle brings together entrepreneurs, investors, brands, retailers, and industry experts to help make Seattle the best place to launch and scale natural products companies.
Naturally Chicago
September Morning Mingle
Thursday, September 10 | 8–9:30 a.m. CT
Location: Chicago French Market, 131 North Clinton Street, Chicago, IL
Join Naturally Chicago for the latest in our monthly series of Morning Mingles. Get a preview of our major three-part series of CPG industry live events that will span from the beginning to end of autumn.
Naturally New England
From Vision to Customer Impact
Tuesday, September 15 | 11 a.m.–12:30 p.m. ET
Location: Online Webinar
Who are you serving, and why do they choose you?
The most successful brands don't grow because they have the best products. They grow because they deeply understand the people they serve and build every aspect of their business around creating value for those customers.
In this interactive session, explore how to uncover the mission of your best customers, translate those insights into a customer-centric marketing strategy, and build the foundation for long-term loyalty, advocacy, and sustainable growth.
Speakers:
- Josh Nelson, Fractional CMO at FlexCMO
- James Wisdom, EOS Implementer at Eosworldwide