Oatly Cancels Production of New Facilities Following Mixed Q3 Earnings
Amid its ongoing shift to an asset-light production model, Oatly reported net sales rose 2.5% to $187.6 million in Q3 during its earnings report today.
Carol Ortenberg
Posts by Carol Ortenberg
Eat the Change Raises $14M as Tea Biz Grows
Eat the Change (ETC) has brought in another $14 million in growth capital to fuel its quest of changing consumers’ eating habits by widening distribution of Just Ice Tea and further testing its Cosmic Chews snacks.
Perfect Day Lays Off 15% of Workforce, Shutters Consumer Biz & Coolhaus
Perfect Day has laid off roughly 15% of its workforce as it moves to exit its consumer-facing business, The Urgent Company (TUC), in order to focus solely on its B2B ingredient sales and nth bio “consulting” precision fermentation business.
CircleUp Breakup: Lending Fund Sold, VC Fund in Transit, AI Play Fate Unknown
Big changes are afoot at CircleUp, a former equity crowdfunding platform that had transformed itself into a significant source of investment and lending capital to early-stage CPG brands.
Westrock Acquires Bixby Coffee to Enter ‘Influencer-Led Brand Space’
Westrock Coffee Company has acquired Los Angeles-based Bixby Coffee Roasters, giving the former an opening into “the emerging influencer-led brand space” as well as further growth for its omni-channel offerings.
Cometeer: Layoffs Hits Across Departments at Flash-Frozen Coffee Brand
Cometeer, the Massachusetts-based maker of flash-frozen coffee pods, laid off a number of employees across departments last week in a move sources described as an attempt to cut costs. The innovation-focused startup had grown to over 100 employees this year, following a $35 million funding round in 2021 that brought its total financing to around $100 million.
Kroger/Albertsons Merger: “An Existential Question” Around Effects on Brands
Kroger will purchase fellow grocery retailer Albertsons in a $24.6 billion deal that has left members of the industry wondering about the long term ramifications for brands and shoppers.
Perfect Day Helps Nestlé Build Animal-Free Dairy Beverage
Nestlé's U.S. R&D Accelerator has partnered with animal-free dairy company Perfect Day to launch an alternative dairy "novel product" that will pilot in the U.S. market later this year.
New Hope Announces New Safety Measures for Expo East
With Natural Products Expo East arriving Sept. 28 in Philadelphia, conference host New Hope Network has introduced a set of guidelines to improve the safety of attendees and create an atmosphere of respect at the event.
Cometeer’s Flash-Frozen Coffees Make Retail Debut in Erewhon
Flash-frozen coffee producer Cometeer is making its brick-and-mortar retail debut this month in all seven Erewhon locations in Southern California. As part of the rollout, the company is also debuting three new 4-pack varieties, available exclusively in Erewhon stores, which will retail for $9.99 each.
Nguyen Extends Vietnamese Coffee Platform with RTD Launch
Within the specialty coffee space, Vietnamese coffee is typically dismissed as cheaper and low quality, according to Sahra Nguyen, founder and CEO of Nguyen Coffee Supply. Which is why since launching her dry coffee brand in 2018, she has focused on exposing the coffee industry to the potential of Vietnam-sourced robusta beans.
Tomorrow Farms and Perfect Day Partner for Animal-Free Dairy Milk Line
Food tech-focused company Tomorrow Farms is bringing its first product line to market with the launch of Bored Cow, an animal-free dairy milk produced in partnership with Perfect Day. Bored Cow is made with Perfect Day’s animal-free whey protein, which is produced via a precision fermentation process that creates replicas of dairy products without the use of animals.
Drinking the Kool-Aid: Plink! Seeks to Offer Sustainable Solution to Single-Use Plastics
Aiming to make single-use cans and bottles a thing of the past, former “trend spotter” Max Luthy and event producer-turned-beverage entrepreneur Luke Montgomery-Smith have launched Plink!, a vintage-inspired brand of beverage tablets.
Gopuff to Cut Hundreds of Workers
Delivery service Gopuff has fired hundreds of employees as it aims to cut costs, the company confirmed on Thursday. Former employees claimed the number was more than 1,000.