June 13, 2025

Please see below for a listing of what the North Point Food & Beverage Team has been tracking this week. We hope that you find the content insightful and a nice way to summarize the most noteworthy Food & Beverage events of the week.

Have a nice weekend!

Glen Clarke

Head of Food & Beverage

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JBS listing on NYSE delayed.

• JBS S.A. confirmed it would delay its trading at the New York Stock Exchange (NYSE) by one day. The dual listing of the Brazilian meat company was rescheduled for June 13.

Source: Meat + Poultry

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Conagra to sell Van de Kamp's and Mrs. Paul's brands to High Liner Foods.

• Today Conagra Brands, Inc. announced that it has entered into a definitive agreement with High Liner Foods to sell its Van de Kamp's® and Mrs. Paul's® frozen seafood brands for USD 55m in cash.

Source: Mergermarket

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General Mills acquires Gladstone Food Products for USD 10m.

• General Mills has been revealed to have acquired Gladstone Food Products, a Gladstone, Kansas-based taco shell manufacturer, for USD 10m, according to reports in The Kansas City Star and The Minneapolis/St. Paul Business Journal.

Source: Mergermarket

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Equip Foods receives significant investment from HighPost.

• HighPost Capital, LLC, a leading private investment firm focused on visionary companies at the forefront of consumer behavior and innovative product, service, sports, media and technology sectors, today announced it has made a significant investment in Equip Foods, a fast-growing protein supplements brand that delivers products made from 100% real food with carefully sourced, third-party tested ingredients including Prime Protein, a leading grass-fed beef protein powder that contains 21g of nutrient dense, easy to digest protein.

Source: Mergermarket

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The Riverside Company-backed FlavorSum launches sale process.

• FlavorSum, a sponsor-backed flavor producer, has launched its sale process, according to three sources familiar with the situation.

Source: Mergermarket

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Mike's Hot Honey works with Bank of America as it fields buyer inbounds.

• Mike’s Hot Honey, a founder-owned maker of branded chili pepper-infused honey, is working with Bank of America to address third-party interest in the company, according to four sources familiar with the situation.

Source: Mergermarket

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JAB could exit Keurig Dr. Pepper after lock-up expiry.

• A 60-day shareholder lock-up for JAB Holdings which owns a 4.4% stake in Keurig Dr. Pepper (KDP) ends on 30 June.

Source: Mergermarket

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One Rock could continue Primo Brands sell-down after lock-up expiry.

• A 45-day lock-up for One Rock Capital holding a 31.2% stake in Primo Brands ends on 23 June. The New York-based private equity firm entered the lock-up after it sold a 12.6% stake in the company at USD 32.3 each on 8 May, raising USD 1.5bn.

Source: Mergermarket

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Frostkrone targeted sale process underway.

• Sponsor Emeram has started a sale process for its German portfolio company Frostkrone, a producer of frozen finger food, two sources familiar with the situation said.

Source: Mergermarket

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Meat Mania: Meat makes comeback with focus on protein.

• Consumer avoidance of meat dropped from 37% in 2022 to 22% in 2025, driven by skepticism toward processed plant-based alternatives and a renewed focus on high-quality protein.
• U.S. fresh meat and poultry sales are expected to grow from $104.6B last year to $137.2B in 2025; 98% of households buy meat, and it's featured in 90% of home-cooked meals.
• Pre Brands reports a 70% YoY increase in ground beef sales, with 57% of Gen Z men preferring lean red meat to support health and wellness goals.

Source: Food Institute

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Lab-grown salmon receives FDA approval.

• Wildtype’s lab-grown salmon received FDA approval, marking the first time cultivated seafood is cleared for U.S. consumption; it will debut at a fine-dining restaurant in Portland.
• The move comes amid increasing state-level bans on lab-grown meat, with Nebraska, Mississippi, Florida, and others restricting its sale, despite the U.S. leading globally with 36 cultivated meat companies.
• Wildtype aims to expand to more restaurants and promote cultivated protein as a sustainable solution for food demand, especially for flexitarians—now estimated to represent 15% of U.S. consumers.

Source: Food Dive

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Trump tariffs could hike canned food prices up to 15%, trade group says.

• Trump’s 50% steel tariff could raise canned food prices by 9–15% and threaten up to 20,000 U.S. food manufacturing jobs, according to the Consumer Brands Association.
• Tin mill steel, used in most cans, is largely imported (80%) due to limited U.S. supply, prompting companies like Conagra and Campbell’s to explore cost mitigation or packaging alternatives.
• Food makers warn that rising input costs could shift packaging formats (e.g., Coca-Cola switching from cans to PET bottles), while trade groups urge the administration to consider supply chain realities.

Source: Food Dive

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Food tech investments slow as AI grabs venture capital attention.

• Food tech startup funding dropped nearly 50% YoY in Q1 2025, as investors redirected capital toward AI, which claimed around 70% of all venture funding during the period, according to Pitchbook.
• The number of investors in food tech has fallen 54% from its 2021 peak, with early-stage companies hit hardest due to higher expectations around market traction, efficiency, and alignment with major trends.
• Despite the downturn, alternative protein startups like Liberation Bioindustries, Vivici, Aleph Farms, and Project Eaden secured funding, signaling ongoing investor interest in next-gen protein and enabling infrastructure.

Source: Food Dive

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Ultra-processed grains called out in MAHA report.

• The MAHA Commission, formed under President Trump, criticized ultra-processed grains—like cakes, cookies, and refined breads—for contributing to chronic disease in children, linking them to obesity, diabetes, and nutrient depletion.
• Industry groups pushed back, noting the report ignored the nutritional value of enriched and fortified grains, which provide key micronutrients and are staples in many affordable, healthy diets.
• Critics questioned the MAHA report's scientific rigor, citing sourcing issues and AI-generated content, while analysts warned that growing anti-UPF sentiment could erode trust in large food brands.

Source: Meat + Poultry

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Cargill invests $90M to automate Colorado beef plant.

• Cargill is investing $90M to implement its proprietary CarVe automation tech at its Fort Morgan, CO beef plant, using computer vision to boost red meat yield per animal amid a historic cattle shortage.
• The project is part of Cargill’s broader “Factory of the Future” initiative, which includes over 100 automation projects across 35 North American sites, aimed at increasing efficiency, sustainability, and employee safety.
• As U.S. beef production is expected to drop 5% in 2026, even modest yield gains can have major impacts; Cargill is also investing in worker housing to address labor challenges at the facility.

Source: Food Dive

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Pork spin-off approved by Maple Leaf Foods shareholders

• Maple Leaf Foods shareholders overwhelmingly approved the spin-off of its pork business, Canada Packers Inc., with 99.94% of votes in favor; the deal is expected to close in H2 2025.
• The separation will create two focused companies: Maple Leaf as a branded CPG protein player, and Canada Packers as a global value-added pork business with a diversified sales mix.
• Leadership emphasized the transaction’s value creation potential, with backing from the McCain family and Maple Leaf executives highlighting long-term strategic and sustainability goals.

Source: Meat + Poultry

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How PepsiCo moves past AI pilot purgatory.

• PepsiCo is prioritizing “four or five big bets” in AI, focusing on high-impact applications like product lifecycle management and workforce tools, while allowing broader employee experimentation through its PepGenX sandbox built on AWS.
• The company credits its prior investments in cloud and data infrastructure as key enablers of its AI progress, enabling faster decision-making and reduced product development cycles.
• PepsiCo is now exploring agentic AI to enhance employee and customer experience, emphasizing a balanced “buy vs. build” strategy and tight vendor partnerships for scalable innovation.

Source: Food Dive

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Report: Titanium dioxide removed from Mars' Skittles.

• Mars Inc. has removed titanium dioxide from U.S. Skittles, following public scrutiny and a 2022 lawsuit alleging the candy was “unfit for human consumption” due to the additive.
• Titanium dioxide, a whitening agent still permitted by the FDA, has faced increased health concerns and a formal petition to revoke its approval due to potential genotoxicity.
• While Skittles no longer list titanium dioxide, they continue to use synthetic dyes like Red No. 40, Yellow No. 5 and 6, and Blue No. 1 and 2, which remain controversial.

Source: Meat + Poultry

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How Nerds Gummy Clusters became the candy aisle’s biggest hit.

• Nerds Gummy Clusters has surged to become the top sugar confection in the U.S., with sales nearing $1B—up over 1,700% since Ferrara acquired the brand from Nestlé in 2018.
• The product’s success came after early testing challenges, eventually winning over consumers with refined packaging and messaging, and expanding usage occasions from snacking to endurance sports.
• Ferrara is continuing to grow the brand through seasonal launches, international expansion, and the upcoming release of Nerds Juicy Gummy Clusters, a larger, juice-filled variant.

Source: Food Dive

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Uncle Crumbles rises: How automation and rebranding are reshaping a legacy food manufacturer.

• Bakery on Main rebranded as Uncle Crumbles, cut SKUs from 40 to under 10, and saw stronger performance with a clearer brand and product focus.
• The company is deploying automation from partners like Formic to reduce labor-intensive tasks, increase capacity, and win more retail bids.
• Automation has also helped upskill employees and reduce injuries, supporting a broader growth strategy beyond gluten-free into conventional oats.

Source: Food Dive

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King’s Hawaiian owner to build $54M pickle factory.

• Irresistible Foods Group is investing $54M to build a Grillo’s Pickles plant in Indiana, adjacent to its new King’s Hawaiian bakery.
• The expansion is supported by $6.3M in local/state incentives and aims to create up to 150 jobs.
• Grillo’s, which has grown to ~$28M in sales, is scaling to meet rising demand for fresh, refrigerated pickles.

Source: Food Dive

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Tom Brady enters the snacking game with vegan gummies.

• Tom Brady launched Goat Gummies, an organic, vegan gummy brand made with real fruit and no artificial ingredients, in partnership with Gopuff, where he is also an investor.
• The gummies, available in three flavors and priced at $4.99, align with Brady’s plant-based, low-sugar diet and follow his previous food ventures like TB12 Performance Meals.
• The U.S. gummy market, valued at $3.1B in 2023, is projected to grow 11.6% annually through 2030, with Brady’s health-forward brand tapping into rising demand for better-for-you snacks.

Source: Food Dive

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PepsiCo to close California Frito-Lay plant.

• PepsiCo is closing its 55-year-old Frito-Lay plant in Rancho Cucamonga, CA, as part of a broader industry trend of reducing manufacturing footprints in response to weaker consumer spending.
• The closure affects approximately 480 employees, though PepsiCo stated it will provide pay and benefits during the transition; distribution and transportation operations at the site will continue.
• The move follows other recent closures—including a NY PopCorners plant—and comes amid a 1% drop in revenue and volume in PepsiCo’s North America foods unit, which leadership called "subdued."

Source: Food Dive

Del Monte Foods to shutter fruit processing plant in Washington state.

• Del Monte is closing its Yakima, WA fruit processing plant and two warehouses, affecting 499 workers total, due to shifting consumer demand.
• The plant primarily handled canned pears, cherries, and apples; no fruit will be packed for the 2025 season.
• Ongoing inflation, reduced consumer spending, and steel tariffs are pressuring canned food companies, prompting broader industry cutbacks.

Source: Food Dive

JUST FOR FUN

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Leftovers: Cheez-It links with Wendy’s on Baconator cracker | Blue Moon debuts a craft beer lip balm – Food Dive

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