Weekly Roundup: Silk’s plant-based Nextmilk hits stores, Parker Food Group to bolster confectionery ingredient production
21 Jan 2022 --- In NPD news, Silk launched a vitamin-rich plant-based drink Nextmilk, while Gardens of Coffee unveiled a subscription service that allows consumers to have premium blends delivered to their door. Meanwhile, Parker Food Group bought a site with manufacturing lines and capacity for supplying food ingredients and China-based MissFresh forged a partnership with seasoning brand Totole to facilitate the growth of pre-packed seasoning capacities.
In brief: Business deals
Specialty ingredients provider, Parker Food Group (PFG) acquired a former Rise Baking manufacturing facility in Mexico, Missouri. The 20-acre site will feature five manufacturing lines and additional capacity for the food ingredients supplied by Parker Products and Creative Food Ingredients, the manufacturers of ice cream, bakery, confectionery, desserts, bars, snacks and packaged goods.
Sojitz Corporation acquired a stake in Indian start-up, Intelligent Retail Private through a third-party allotment of shares. The investment will allow the company to enter distribution for consumer goods and foods. India is projected to become the third largest retail market worth US$1.2 trillion by 2025.
China-based retailer Missfresh formed a strategic partnership with seasoning brand Totole. Missfresh will facilitate Totole's go-to-market plan for its pre-packed seasoning blends through a series of joint promotions. In 2021, Missfresh saw its sales volume of prepacked seasoning blends grow by more than 30%. The emerging subcategory has grown in popularity among younger shoppers for reducing cooking anxiety and cooking time.
In brief: Sustainability moves
Egg ingredients specialist Ovodan debuted cage-free shell eggs in China. A survey by Chinese food industry media outlet FTA found that over 60% of local consumers believe food companies should source only cage-free eggs and 75% are more likely to visit restaurants, retailers and packaged foods brands with a cage-free policy. Approximately 75 food companies in China have committed to using cage-free eggs.
In brief: NPD
Plant-based beverage brand Silk launched Nextmilk, formulated with plant blends that mimic the taste and texture of dairy milk. The non-dairy milk is a good source of calcium, vitamin D, vitamin A, B12, riboflavin and phosphorus. It delivers 4g of protein per serving, is lactose-free and has 30% fewer calories than dairy milk.
Premier UK coffee roaster, Gardens of Coffee, known for roasting coffee with hot air, launched a new subscription service with monthly prices for blends. The company makes it easy for consumers to sample specialty coffee at home by offering a subscription for monthly delivery of premium blends.
In brief: Corporate certification
Presto Coffee is now B Corp certified.
Presto Coffee received a B Corporation certification, achieving a high 92.3 B Impact Score. The company is one of only a handful of British coffee producers to receive the certification. The ethical coffee start-up was awarded the status for meeting stringent standards of social and environmental performance, accountability and transparency. To be a B Corp, a firm must legally consider the impact their decisions have on workers, customers, suppliers, community and the environment by using business in a positive way and outside of shareholder profit.
In brief: Agriculture today
Vertical Future secured £21 million (US$29 million) in Series A funding. The company develops and deploys vertical farming hardware and technology with projects in Britain, Ireland, Italy and Singapore. The funding round gave the company a valuation of £100 million (US$136 million). Crops are grown using artificial light and no soil. The farming method employed produces crops on a series of stacked levels. It is a sustainable means of growing fruit and vegetables using less water and no pesticides.
The latest phase of the Agriculture and Horticulture Development Board’s ‘Mix Up Midweek’ marketing campaign encouraged families to cook healthy, quick and tasty pork medallion dishes. The campaign was initiated with three weeks of TV advertising running until February 27, with positive messages to consumers to consider pork medallions as a healthy midweek meal option.
Mechanical weed control outfit Sensus, has invested in the FarmDroid robot to advance sustainable farming. Through the open Groeikracht network, a Cosun initiative, growers can offer their expertise and experiences of cultivation. Cosun links this to its knowledge of processing and innovation and its contacts within governments, research institutes, interest groups and companies. Groeikracht encourages the use of mechanical weed control. In that program the FarmDroid robot is one of the sub-projects.
In brief: Appointments
Indoor vertical farming technology company, Plenty appointed Arama Kukutai as CEO. Kukutai is a seasoned entrepreneur in the agritech industry, currently serving as co-founder and partner at Finistere Ventures, a venture firm that nurtures agribusiness and food tech companies. He has been an investor in Plenty and a part of its board of directors since 2016.
By Inga de Jong
