Weekly News Roundup: Highlights From the Food Industry

Funding, Acquisition, and Finance

Mars Sweetens Its Portfolio with Hotel Chocolat Acquisition

In a strategic move to expand its presence in the U.K., Mars, the renowned maker of Snickers and M&M, is set to acquire Britain's Hotel Chocolat for a whopping $665 million. This acquisition not only represents a substantial investment but also marks Mars' intention to further strengthen its foothold in the confectionery market.

Canada's Investment in Sustainable Seafood Alternatives

Canada is making waves in the sustainable food sector by investing $11.4 million in the development of a whole-cut plant-based alternative to salmon. With support from the government, three Canadian companies are pioneering the creation of a plant-based version of the country's beloved salmon fish, showcasing a commitment to environmental consciousness and alternative protein sources.

Nordzucker's Sweet Investment in Plant Proteins

German sugar giant Nordzucker AG is diversifying its portfolio with a significant commitment of over €100 million. The investment is earmarked for the development of plant proteins over the next few years. This strategic move reflects Nordzucker's recognition of the growing demand for plant-based alternatives and the company's proactive approach in adapting to changing consumer preferences.

Innovative Funding for Sustainable Food Solutions

Several startups are making waves in the food industry with innovative funding rounds. Finnish startup Solar Foods has secured an impressive €8M ($8.8M) in Series B funding to scale up the production of Solein protein made from air. Berlin-based biotech startup Quazy Foods has raised €800K for its venture in microalgae ingredients, showcasing the industry's enthusiasm for sustainable and cutting-edge solutions.

Germany's Budget Allocation for Alt-Protein Transition

Germany is taking a bold step towards a more sustainable future with a budget allocation of €38 million in 2024. This investment is specifically earmarked for promoting alternative proteins and supporting the transition to plant-based agriculture. The move highlights Germany's commitment to fostering a more environmentally friendly and ethically conscious food industry.

Food Tech and Innovations

Precision-Fermented Lactoferrin Gains Recognition

Singaporean startup TurtleTree has achieved a significant milestone by obtaining self-affirmed GRAS (Generally Recognized as Safe) status for its precision-fermented lactoferrin in the United States. This recognition positions TurtleTree as a key player in the development of sustainable and safe food technologies.

Algae-Based Delights: ZALG's Crispy Seaweed Sticks

French producer ZALG is making waves with its innovative use of locally-grown seaweed and macroalgae. The company has recently launched crispy seaweed sticks, adding to the array of sustainable and healthy plant-based food options. ZALG's commitment to utilizing local resources highlights a growing trend in environmentally conscious food production.

SolvEat's Bioactive Solution for Healthy Blood Sugar

Israel-based food-tech start-up SolvEat has unveiled a promising bioactive solution designed to help maintain healthy blood sugar levels. Collaborating with a chocolate company to create a chocolate bar prototype, SolvEat demonstrates the potential for innovative collaborations in developing functional and health-focused food products.

Mung Beans: A Climate-Resilient Solution for Plant-Based Meat

German scientists are delving into new research at The University of Bonn and Fraunhofer Institute, exploring plant protein extraction methods. The study highlights the potential of climate-resilient crops, such as mung beans, for plant-based meat production. This research reflects the ongoing efforts to find sustainable alternatives to traditional meat sources.

Better Nature's Upcycled Vegan Chicken

British tempeh brand Better Nature is pushing the boundaries of plant-based innovation. The company is working on a whole-cut vegan chicken ingredient made from tempeh mycelium and okara, demonstrating a commitment to utilizing by-products and creating sustainable alternatives to conventional meat.

Vivici and Ginkgo Bioworks: A Partnership for Sustainable Dairy Proteins

Dutch B2B startup Vivici and biosecurity platform Ginkgo Bioworks have joined forces in a strategic partnership. Their collaboration aims to advance the production of sustainable animal-free dairy proteins through precision fermentation. This partnership signifies a step towards creating more ethical and environmentally friendly alternatives within the dairy industry.

Florida's Controversial Move to Ban Cultivated Meat

In a bold and controversial move, a Republican legislator in Florida has proposed a bill to ban the production, sale, and distribution of cell-cultured meat in the state. If passed into law, this prohibition would take effect in July 2024, reflecting the ongoing debate surrounding the future of meat production and consumption.

PepsiCo's Health-Conscious Goals

Snacking giant PepsiCo is setting ambitious goals to improve the health profile of its global convenience foods portfolio. The company aims for at least 75% of its volume to meet or be below category sodium targets by 2030, signaling a commitment to promoting healthier snack options worldwide.

Food Safety and Health

Cantaloupe-Related Salmonella Outbreak in North America

Both Canada and the United States are grappling with a salmonella outbreak linked to cantaloupe consumption. The outbreak has resulted in fatalities in both countries, emphasizing the importance of stringent food safety measures and cross-border cooperation to address such public health crises.

Recall Alert: Salmonella Concerns with Cantaloupes

Jewel Marketing and Agribusiness LLC has initiated a recall of Malichita / Z Farms cantaloupes due to potential salmonella contamination. The recall, affecting cantaloupes sold between October 31 and November 9, underscores the constant vigilance required in monitoring and maintaining food safety standards.

Lead Poisoning Concerns from Applesauce

A concerning situation has emerged as public health officials identify more children with elevated levels of lead in their blood after consuming certain brands of cinnamon applesauce. This highlights the need for rigorous quality control and monitoring in the production and distribution of food products, especially those targeted at children.

Listeria Infections Linked to Fresh Stone Fruits

Fresh peaches, plums, and nectarines have been implicated in a new outbreak of Listeria infections, leading to a recall of at least 12 fresh fruit varieties sold under various brands. This incident underscores the ongoing challenges in maintaining the safety of fresh produce and the importance of swift action to prevent the spread of foodborne illnesses.

Conclusion:

In this week's food industry news, we witnessed significant acquisitions, strategic investments, and innovative developments that reflect the evolving landscape of the global food sector. From Mars' acquisition of Hotel Chocolat to Canada's investment in sustainable seafood alternatives, the industry is navigating shifts towards diversification and environmental consciousness. Startups securing funding for cutting-edge solutions underscore a commitment to technological advancements, while controversies in Florida and health-focused goals from PepsiCo add layers to ongoing industry discussions. However, challenges persist in food safety, as highlighted by recalls and health concerns. The diverse range of topics covered showcases the dynamic nature of an industry continually adapting to consumer preferences, sustainability goals, and technological innovations.