Weekly Roundup: Blommer Chocolate Company open new R&D lab, BlueNalu joins forces with F&LC to boost sushi supply chain
28 Jan 2022 --- This week in industry news, cocoa processor Blommer Chocolate Company opened an R&D lab in the US, BlueNalu collaborated with Food & Life Companies to bolster bluefin tuna supply chain and ChickP scored US$8 million in funding. Meanwhile, Fonterra lowers milk price range to benefit farmers, Heura doubles sales and ITS released a flavor trend overview.
In brief: Business moves
US cocoa processor Blommer Chocolate Company, opened a new R&D applications laboratory in Chicago, Illinois, at The Merchandise Mart. The space will facilitate R&D capabilities and improve business support. The company provides business solutions for domestic and international customers in the confectionery, baking and dairy industries. Its core competencies are cocoa bean processing, chocolate manufacturing, commodity risk management as well as product and process R&D.
BlueNalu entered a collaboration with multinational sushi restaurant operator, Food & Life Companies. The agreement focuses on developing a supply chain solution for bluefin tuna and other sushi products. The companies will join forces on product development, marketing and support of a regulatory framework to accelerate BlueNalu's commercialization in Japan.
Israeli food tech start-up ChickP finalized round A funding of US$8 million. This investment round was led by a group of executive investors from Singapore under Genisys Capital Private and backed by a strategic partner, plant-based nutrition company Growthwell Foods, with its lead investor, Temasek Holdings. This follows earlier investments totaling US$10M.
Israeli food tech start-up ChickP finalized round A funding.
Crespel & Deiters, a producer of wheat-based solutions, acquired Extruded Cereal Products (ECP). ECP is an international extruder of cereal and protein products in breakfast cereals, based in the Netherlands. The acquisition allows the company to secure the supply of trending ingredients and include an additional processing step to its wheat refinement offering. The distribution of the extrudates produced by ECP will be transferred to Loryma’s portfolio, a food specialist within the Crespel & Deiters group.
In brief: Profits
Fonterra Co-operative Group New Zealand lifted its 2021-2022 forecast Farmgate Milk Price range to NZD$8.90 (US$5.94) – $9.50 (US$6.34) per kgMS, up from NZD$8.40 (US$5.6) – $9.00 (US$6) per kgMS. This increases the midpoint of the range. The new midpoint of NZD$9.20 (US$6.14) per kgMS would contribute NZD$13.8 billion (US$9.21 billion) to the New Zealand economy this season.
Spanish plant-based meat company Heura has doubled its sales and expanded its reach to 20 countries, up from 13 in 2021, including the UK, France and Italy. Founded in 2017 by food activists Marc Coloma and Bernat Añaños, the company closed the year with €17.7 million (US$ 20 million) in turnover, up from €8 million (US$9 million) in 2020. The company will continue to prioritize achieving price parity to help make plant-based foods more accessible to consumers. Its expansion comes at a time when the plant-based sector is expected to reach US$480 billion globally by 2024.
In brief: Appointments
ChickP appointed Liat Lachish Levy as the new CEO. Levy brings more than 20 years of executive experience in global corporations, specializing in FMCG retail and foodservice. She has led a number of global business ventures and built strategic partnerships with multinational companies including Kraft-Heinz and The Kellogg Company.
In brief: Other highlights
ITS has released its 2022 flavor trend overview. (Credit: ITS)
Bühler AG’s grains and food business segment handed over the Rupshi Flour Mill to City Group top management in Dhaka, Bangladesh. The flour mill was installed in 24 months and is in operation.
ITS released its flavor trend overview for 2022 featuring six key focal points: exotic, foraging, citrus, mood, crossover and braver flavors. Some of the key ingredients used in the trend chart are mangosteen, horned melon, dragon fruit, mulberry, cloudberry, elderberry, calamansi, dekopon, yuzu koshō, CBD, tahini, huckleberry, maple and bacon and katsu curry.
By Inga de Jong
