In This Issue:

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:
    • BioBrew
    • Beerhouse.MX
    • EverGrain
    • Flying Fish Seltzer
    • Mike's Hard Seltzer
    • Super Coffee
    • Ugly Drinks
    • Wave Soda