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:
- Flying Fish Seltzer
- Mike's Hard Seltzer
- Super Coffee
- Ugly Drinks
- Wave Soda