Chickpea snack brand Hippeas has secured $50 million from global investment fund The Craftory. Hippeas launched in 2016 with a line of organic chickpea puffs and has since expanded its portfolio to include chickpea-based tortilla chips. Both lines are USDA organic, certified gluten-free and vegan. The brand’s products are available in the US and UK in retailers such as Kroger, Target, Whole Foods and Waitrose. With the capital, Hippeas intends to boost innovation, expand production and increase distribution. The financing consisted of direct investment, as well as secondary purchases of shares from existing Hippeas shareholders including Cavu Venture Partners. “Hippeas has grown from a disruptive start-up to a true challenger brand in very competitive snack categories with innovative products, delicious flavours and nutritional offerings that consumers want – the brand has the potential to become a household name with its loyal millennial fanbase,” said Livio Bisterzo, Hippeas founder and CEO. “The pandemic has been very difficult for many brands; Hippeas has been fortunate to have seen strong growth and we are delighted to have partnered with The Craftory as we head into 2021,” he continued. In addition to the funding, Greg Buscher has been appointed CFO of Hippeas, while César Melo – a former president of global chocolate at Mondelēz – has joined the company’s board of directors. The US start-up will join The Craftory’s portfolio that also includes NotCo, a plant-based food-tech firm. Elio Leoni Sceti, co-founder and chief crafter at The Craftory, said: “Hippeas offers zero compromise of flavour and texture, no need to change consumer habits nor expectations, while also being healthier and more sustainable than the more traditional alternatives – that’s a great proposition and a proven recipe for success. We look forward to amplifying this bold CPG challenger as they positively disrupt the status quo.” Keep up to date with the plant-based industry by subscribing to FoodBev’s latest title, The Plant Base, launching March 2021. #US #chickpeas #Hippeas #TheCraftory #snacks

PepsiCo and Beyond Meat have teamed up to establish The PLANeT Partnership, a joint venture to introduce new plant-based protein offerings. The partnership will enable the two companies to develop, produce and market snack and beverage products made from plant-based protein. Through the venture, Beyond Meat will leverage its leading technology in plant-based protein development. Meanwhile, PepsiCo will deploy its marketing and commercial capabilities to create and scale new product offerings. “Plant-based proteins represent an exciting growth opportunity for us, a new frontier in our efforts to build a more sustainable food system and be a positive force for people and the planet, while meeting consumer demand for an expanded portfolio of more nutritious products,” said Ram Krishnan, PepsiCo global chief commercial officer. “Beyond Meat is a cutting-edge innovator in this rapidly growing category, and we look forward to combining their unparalleled expertise with our world-class capabilities in brand-building, consumer insights and distribution to deliver exciting new options,” he continued. “We are thrilled to formally join forces with PepsiCo in The PLANeT Partnership, a joint venture that unites the tremendous depth and breadth of their distribution and marketing capabilities with our leading innovation in plant-based protein. We look forward to together unlocking new categories and product lines that will inspire positive choices for both people and planet,” said Ethan Brown, Beyond Meat founder and CEO. “PepsiCo represents the ideal partner for us in this exciting endeavour, one of global reach and importance.” Operations will be managed through the newly created entity, The PLANeT Partnership. Financial terms for the joint venture have not yet been disclosed. #PepsiCo #plantbasedprotein #jointventure #BeyondMeat #ThePLANeTPartnership

Fooditive and Frutco have teamed up to construct a new facility that will yield sweeteners from banana waste and bring the sustainable product to market. The companies have formed a new partnership to bring the Fooditive banana sweetener line to Europe, as they look to improve health and remove carbon emissions from the supply chain. Under the terms of the agreement, Frutco will use the Fooditive production methods for bananas and will industrially manufacture and sell the plant-based sweeteners. Through its exclusive partnership, the companies claim they are investing in a sustainable use of resources in the food industry, using affordable technologies and supporting its customers in minimising their CO2 footprint. To further strengthen its commitment to fight against food waste, Fooditive and Frutco are constructing a new multi waste- and residues-based biodiesel plant to process banana and other tropical fruits side streams into fruit extracts and sweeteners. The plant will use Fooditive’s technology that enables the processing of all types of fruits and vegetables side stream, including by-products from food processing and non-food crops grown on marginal land. “This project will be the leading future for better world, a world in which we use all types of plant-based side streams that can make and improve people life providing food ingredients that are healthy and sustainable,” said Moayad Abushokhedim, CEO of Fooditive. Claudia Lauener Hofer, COO of Frutco, said: “Years ago, we made it our mission to be 100% sustainable by 2030, making the world a better place bit by bit and doing our part. With Fooditive by our side, we are now expanding our product range and creating a new sweet world, but one that is resource efficient and healthier. “We are confident that this project will allow us to achieve another milestone in continuing to conserve resources, protect the environment and strengthen the health of many people.” The project will commence in January 2021 and the fermentation plant is expected to open in mid-2022. #sweeteners #Frutco #foodwaste #sustainability #Fooditive

Nature’s Bakery has introduced Baked-Ins to the US market, the brand’s first organic baked snack bar that is made with real fruits and vegetables. The launch comes over a month after Kind announced it had entered an agreement to acquire the snack bar brand, while Kind North America was in the process of being bought by Mars. Baked-Ins are made with whole grains oats, as well as hidden fruit and vegetables including sweet potato, kale, carrot and apple. The line comes in two varieties that are inspired by home-baked favourites: banana chocolate chip and chocolate oat. Both flavours offer 3g of fibre and 9g of whole grains, as the brand aims to bring healthier and organic snack options to families. Like its other varieties, Baked-Ins are plant-based, nut-free, soy-free and contain no artificial colours or preservatives. The better-for-you snack bar marks the newest addition to Nature’s Bakery’s portfolio of fig bars, brownie bars and other soft-baked options. It also comes after Kellogg’s expanded its W.K Kellogg by Kids range with new ‘healthy’ snacks bars made with real fruit and vegetables. “There’s something about classic baked goods that provides us with a sense of comfort. When developing Baked-Ins, we wanted to make sure we packed in nature’s greatest ingredients in every bite without compromising the familiar tastes we crave,” said Vilma Livas chief marketing officer at Nature’s Bakery. “It’s a win for parents everywhere. The magic is that you can’t even taste the secret goodness and that’s what makes these snacks seriously good.” Baked-Ins are available now at national retailers including Target, Kroger and Publix. #KIND #NaturesBakery #US #snackbars #healthysnacks

US beef producer Jensen Meat is opening a new processing plant, as it looks to accommodate co-packing opportunities for plant-based beef alternatives. Scheduled for completion by April 2021, the new facility will include capabilities such as blending, cooking, dry mixing and emulsifying for foodservice and retail products. According to Jensen, the plant will allow it to pursue new partnerships, providing opportunities to test new processes and increase national production of plant-based products. The Southern California-based beef processor also says that the new processing plant will create jobs when complete. “With sixty years’ experience, Jensen Meat has perfected how to process and pack quality ground beef,” said Abel Olivera, CEO of Jensen Meat. “We now want to leverage our world-class knowledge to create a cost-effective process for producing plant-based products.” Olivera continued: “We can create, process and pack plant-based products in ways that are cost effective and innovative. “We want to help bright minds out there that have the same goal of creating healthy, low-cost foods from alternative sources of protein, which also play a part in reducing world hunger.” #JensenMeat #meatalternatives #US

Dr. Praeger’s Sensible Foods has received a majority investment from Vestar Capital Partners to support the growth of its plant-based frozen food portfolio. Founded in 1994, Dr. Praeger’s manufactures ‘better-for-you’ plant-based frozen and refrigerated foods. Its range includes vegan, vegetarian, gluten free and soy free options such as meat alternative burgers, sausages, appetisers and sides, which are sold in US retailers nationwide. The US company will use the capital to launch further product innovations in the plant-based frozen and refrigerated foods category. Following the investment, Dr Praeger’s CEO Larry Praegar and president Adam Somberg will continue in their current roles and remain significant investors in the company. “When our fathers co-founded the company 25 years ago, they were truly innovators. In today’s competitive market, our partnership with Vestar will help provide the financial backing, industry relationships and category expertise to continue to build on our momentum,” said Praegar. Somberg added: “We are fortunate to have some of the most loyal customers in the industry, but with more consumers eating in and looking for better food choices, the timing couldn’t be better to team with Vestar to explore ways to expand the brand.” Dr. Praeger’s marks Vestar’s most recent investment and joins its portfolio of brands such as Simple Mills – a natural organic cracker, cookie and baking mix brand – Roland Foods, an importer and supplier of speciality foods and Nonni’s, a manufacturer of premium artisanal cookies and baked goods. “The US better-for-you market has never been stronger, and we are excited to partner with a company that has been at the forefront of this trend and knows the market intimately,” said Winston Song, managing director and co-head of consumer at Vestar Capital Partners. As part of the investment, Jeffrey Ansell, a senior advisor to Vestar will join the Dr. Praeger’s board as chairman. Ansell has previously served as chairman and CEO of Sun Products, CEO of Pinnacle Foods and spent 25 years in leadership positions at Procter & Gamble. Terms of the transaction were not disclosed. #DrPraegersSensibleFoods #plantbased #US #VestarCapitalPartners

British plant-based producer Nush Foods is introducing a range of nut milk chocolate pots, marking its entry into the dessert category. Initially available in a chocolate orange flavour, the new almond milk Choc Pots are said to be rich in protein and are fortified with live vegan cultures. Containing fewer than 200 calories per pot, the new offering is sweetened with apple and made with orange oil and Belgian cocoa powder. With an RRP of £3.00 per two-pack, the pots are free from dairy, lactose, gluten, soya, preservatives, additives and refined sugar. Nush has also announced that it has secured a deal to supply 244 Waitrose stores with the chive cheese alternative that it launched last year. “Innovating and launching into new categories, as well as making our products accessible to as many consumers as possible through increased distribution, is central to Nush’s growth plans,” said Bethany Eaton, co-founder of Nush. “Our Choc Pots are the first nut milk dessert pot in the UK and fill a gap in the market for delicious, protein-rich plant-based desserts. “Like our Ch*ese, they are made with our almond m*lk, which contains 30% pure almonds, and is made by our team in our factory in Erith.” Keep up to date with the plant-based industry by subscribing to FoodBev’s latest title, The Plant Base, launching March 2021. #almondmilk #Nush #plantbased #UK

Oumph has launched its plant-based version of classic Swedish meatballs into the UK market through Ocado. Oumph Balls are made from soya beans and are free from gluten and dairy. The vegan meatballs are reportedly high in fibre and suitable for lots of dishes. The plant-based meatballs mark the latest Oumph product to land in Ocado stores, after the brand secured distribution in the online grocery store last year. Tom Gray, buyer at Ocado, said: “We’re really pleased to be able to offer our customers a new product from Oumph. The Oumph Balls are an exciting addition to the collection and allow us to extend our huge range of vegetarian and vegan products.” Last year, Oumph was acquired by plant-based food collective Livekindly Collective, which owns brands such as Fry’s, Like Meat and No Meat. Domenico Speciale, general manager for Livekindly Collective in the UK, said: “The rapid growth of plant-based products continues. The brands within the Livekindly Collective are made to appeal to vegans, vegetarians, flexitarians, meat reducers and meat-eaters alike.” Oumph Balls are retailing for £3.50 per 280g bag at Ocado. Keep up to date with the plant-based industry by subscribing to FoodBev’s latest title, The Plant Base, launching March 2021. #LivekindlyCollective #meatalternatives #Oumph #UK

Plant&Co Brands has acquired Canadian plant-based butcher YamChops in a share purchase agreement, as it looks to support the brand’s entry into new markets. YamChops specialises in the development, preparation and distribution of over 17 proprietary plant-based meats and various other vegan style food products to both businesses and consumers. With a retail location in Toronto, the company also works with food delivery platforms such as Uber Eats, Skip the Dishes and Ritual One. Its Toronto plant-based butcher shop features a counter with a glass case that displays vegan burgers, sausages, ribs and bacon, as well as vegetarian versions of chicken teriyaki and tuna salad made from chickpeas. In addition, YamChops offers foods condiments such as chutneys, pickled vegetables and sauces. Established in 2008, YamChops has featured on TV programme Dragons Den and is considered one of North America’s first and Canada’s only plant-based butcher shop. By utilising existing distribution networks and B2B relationships, Plant&Co aims to rapidly grow and expand YamChops to new and emerging markets, not only in Canada but to US markets. “The acquisition of YamChops was part of the company’s M&A strategy to instantly arrive at the point of in-market sales of a known, trusted and established plant-based brand. This acquisition is truly transformational in adding to our growing portfolio of plant-based products and companies,” said Shawn Moniz, CEO of Plant&Co Brands. He added: “We have a great opportunity to leverage the recent growth in popularity of these healthy meat and dairy product alternatives and expand our newly acquired business across North America and beyond.” Keep up to date with the plant-based industry by subscribing to FoodBev’s latest title, The Plant Base, launching March 2021. #PlantampCo #YamChops #Canada #meatalternatives #plantbasedmeat

Independent grocer Organic Garage has entered into a binding letter of intent to acquire The Future of Cheese, a Canadian manufacturer of plant-based cheeses. Based in Toronto, Future of Cheese is a private corporation that specialises in the development, manufacture and marketing of organic, plant-based cheeses and plant-based cheese products. The company claims to utilise unique ageing and manufacturing processes and looks to disrupt the plant-based dairy alternatives market. As part of the deal, Organic Garage will issue 13,800,000 common shares to the shareholders of Future of Cheese at a deemed price of $0.42 per share in consideration for all of the issued and outstanding securities of Future of Cheese. This would result in an estimated total value price of CAD 5.796 million (approximately $4.54 million). Following the acquisition, Future of Cheese will become a wholly-owned subsidiary of Organic Garage. Founded in 2005, Organic Garage is a Canadian independent organic grocer that offers a wide selection of healthy and natural products. The grocer is looking to continue expanding its retail footprint within the Greater Toronto Area. The proposed acquisition, which is subject to conditions and regulatory approval, is anticipated to close around 19 March 2021. Keep up to date with the plant-based industry by subscribing to FoodBev’s latest title, The Plant Base, launching March 2021. #Canada #OrganicGarage #plantbasedcheese #TheFutureofCheese

FoodBev Media is delighted to announce the launch of The Plant Base, an exciting new magazine that will cover all aspects of the fast-growing plant-based food and beverage sector! Launching in March 2021, The Plant Base will be the first B2B magazine in the food and beverage industry that is dedicated solely to the plant-based sector, providing readers with unrivalled insights into the current developments across the area, as well as an essential guide to the future of the segment. The Plant Base will be a bi-monthly publication, covering compelling subjects such as plant-based meat and dairy alternatives; bio-packaging; the future of farming; and much more. Much like FoodBev Media’s existing publications – FoodBev and Refreshment magazines – each issue of The Plant Base will feature innovations, news, in-depth exclusive features, market research, expert insights, and more – keeping you abreast with one of the industry’s most exciting and fast-evolving markets. FoodBev Media’s Martin White will serve as editor of The Plant Base. Commenting on the launch of the magazine, White said: “The exponential growth of the plant-based sector in recent years has firmly established the area as one of the most fascinating and dynamic segments of the food and beverage industry. “With flexitarian, vegetarian and vegan eating habits on the rise across the world, this looks set to continue for the foreseeable future, with many major players across the food, beverage and dairy industries clamouring to establish a firm foothold in the area. “I am therefore thrilled to announce the launch of The Plant Base, which will serve as an essential resource for any business with an interest in the plant-based sector.” FoodBev Media marketing manager, Matthew Rushton, added: “The plant-based sector is dominating the food and beverage industry in terms of innovation and conversation these days. It is clear that the growth of the plant-based sector is not just a passing phase, it is a key focus area in the food and beverage industry and should be treated as such. “That is why I am so excited FoodBev is launching The Plant Base, the first B2B magazine dedicated to helping the industry, not only to better understand the plant-based market, but also to see how companies can adapt and be successful in this fast-expanding sector!” Alongside the launch of The Plant Base, FoodBev Media has launched a dedicated Twitter account for The Plant Base (@ThePlantBaseMag), and will also be creating a free monthly newsletter, both of which will cover the latest developments in the plant-based sector; covering industry news, innovations, events and more. As an added bonus, every subscription prior to Issue #1 being published will receive an automatic early bird 10% discount! Find out more about The Plant Base magazine here. #FoodBevMedia #plantbased #ThePlantBase

Beyond Meat has announced the construction of new global headquarters in California, in a move that will reportedly accelerate its plant-based product innovation. The company is entering a 12-year lease in a new, nearly 300,000 square-foot space at 888 N. Douglas Street in El Segundo, California. The building – which will serve as the company’s new global headquarters – is currently under development by Hackman Capital Partners and is expected to be completed in spring 2021. Beyond Meat claims the facility will be one of the world’s largest and most technologically advanced plant-based research centres. The new headquarters marks a substantial increase in the company’s footprint, which will support innovation with its advanced research labs. Anticipated to open in autumn this year, the headquarters will include increased pilot space to support multiple product lines, while enabling space to grow its research personnel by three to four times its current level. The campus will also feature ‘future-forward’ research incubators that Beyond Meat says will enable the development of new technologies and more innovative products utilising artificial intelligence and machine learning. “Our ambitious new campus and truly state-of-the-art research facilities reflect our commitment to providing our consumers, customers, and strategic partners with the very best in science, technology, and culinary arts as we together answer the global protein challenge,” said Ethan Brown, founder and CEO of Beyond Meat. He added: “The new campus and facilities will house cutting-edge fundamental and applied research, alongside globalised product development teams, all in service to a single goal: creating meat from plants that is indistinguishable from its animal protein equivalent. It is on this campus that we expect to advance ever more rapidly against our taste, nutrition, and cost metrics, inviting and empowering more and more consumers around the world to Go Beyond.” Last year, Beyond Meat announced that it was opening a new plant-based meat production facility in China. #BeyondMeat #meatalternatives #plantbased #US