Image source: Matt Edge | New York Times
Every week we track the business, tech and investment trends in CPG, retail, restaurants, agriculture, cooking and health, so you don’t have to. Here are some of this week’s top headlines.
Blue Apron president and CEO Brad Dickerson has stepped down and will be replaced by Linda Findley Kozlowski, effective April 8. Kozlowski most recently served as COO at Etsy, where she helped grow sales to more than $3.9 billion.
The CBD space keeps heating up. Following last week’s news of CVS’s decision to sell CBD products, Walgreens announced this week that it will also be rolling out cannabis-based products in 1,500 stores. Now, the FDA has scheduled a hearing for May 31st to discuss how it might regulate cannabis in food and beverages.
In restaurant news, Burger King announced a test run of the Impossible Whopper in 59 restaurants in the St. Louis area. Restaurant management platform Toast has raised $250 million to expand outside of the US. Online catering marketplace ezCater has raised $150 million, making the first foodtech catering unicorn.
And finally, a new study published in The Lancet has found that 11 million deaths annually are linked to diet-related diseases, making it the leading risk factor for deaths around the world.
Check out our weekly round-up of last week’s top food startup, tech and innovation news below or peruse the full newsletter here.
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1. Blue Apron Taps Former Etsy Executive as CEO Replacing Brad Dickerson – Bloomberg
Linda Findley Kozlowski will replace Brand Dickerson as CEO. Blue Apron shares soared as much as 24% in early trading Wednesday after the news.
2. Burger King Tests Plant-Based Meat With an Impossible Whopper – Bloomberg
The chain announced a test run for the Impossible Whopper in 59 restaurants in the St. Louis area.
3. FDA Sets First Hearing on CBD in May As the Agency Looks at Legalizing the Cannabis Compound in Food and Drinks – CNBC
The agency wants data on CBD’s safety in food products and feedback on how it might regulate manufacturing, marketing and labeling. The public hearing will take place on May 31.
4. Plastic Bags to Be Banned in New York; Second Statewide Ban, After California – New York Times
State lawmakers and Gov. Andrew Cuomo have agreed to ban most single-use plastic bags; counties will have the option to impose a 5-cent paper bag fee.
5. European Parliament Votes to Ban Single-Use Plastics – The Guardian
The vote paves the way for a ban on single-use plastics to come into force by 2021 in all EU member states.
6. Kellogg Sells Keebler, Snacks to Ferrero for $1.3B – Bloomberg
Kellogg agreed to sell its cookies and fruit snack brands including Keebler and Famous Amos to Ferrero as the cereal maker refocuses on the fast-growing parts of its business.
7. Walgreens to Sell CBD Products in 1.5k Stores – CNBC
The drugstore chain will sell CBD creams, patches and sprays in Oregon, Colorado, New Mexico, Kentucky, Tennessee, Vermont, South Carolina, Illinois and Indiana.
8. Toast, the Restaurant Management Platform, Has Raised $250M at a $2.7B Valuation – TechCrunch
TCV and Tiger Global Management led the round. New capital will be used to invest in building technology to help restaurants with marketing, recruitment and operational efficiency, as well as start to think about expanding to more territories outside the US.
9. Plated Scales Back Retail Distribution – Supermarket News
Plated meal kits are no longer sold at stores in the Boise, Idaho area, where Albertsons is based. The company is shrinking its retail distribution as the company reassesses its in-store market strategy.
10. French Buyout Firm Eurazeo Infuses $40M Into Cocktail Mixer Brand – Wall Street Journal
Eurazeo has invested in Q Tonic, representing its first foray into the food and beverage sector.
11. ezCater Raises $150M to Expand Global Catering Marketplace – The Spoon
The round was co-led by Lightspeed VenturePartners and GIC. The latest raise will help it expand its global operations.
12. GrubMarket Raises $25M More for Its Farm-to-Table Food Delivery Service – TechCrunch
The investment is being led by WI Harper Group and Digital Garage. The startup is continuing its expansion in the US and en route to an IPO filing, potentially as soon as this year.
13. Bad Diets Are Responsible For More Deaths Than Smoking, Global Study Finds – NPR
Some 11m deaths annually are linked to diet-related diseases like diabetes and heart disease. Researchers say that makes diet the leading risk factor for deaths around the world.
14. States Sue Trump Administration Over Rollback of School-Lunch Nutrition Standards – Wall Street Journal
As USDA seeks to ease Obama-era rules on whole grain foods and sodium content, Democratic attorneys general challenge on administrative grounds.
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