Source: Eater
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.
America’s largest milk producer, Dean Foods, has filed for Chapter 11 bankruptcy. The 94-year-old company is in “advanced discussions” on an acquisition by Dairy Farmers of America. Opponents fear a milk monopoly that would all but guarantee lower income for struggling farmers.
In retail news, Alibaba aims to raise $13.4 billion in its IPO on the Hong Kong Stock Exchange. Albertsons has discontinued Plated’s subscription business and plans to take it over as its “in-house culinary brand.” The retailer plans to expand the brand with new product offerings across more store locations during 2020.
Check out our weekly round-up of last week’s top food startup, tech and innovation news below or peruse the full newsletter here.
1. America’s Biggest Dairy Co-Op May Buy Dean Foods. Opponents Fear a Milk Monopoly – New Food Economy
After Dean Foods, America’s largest milk producer, announced it had filed for bankruptcy on Tuesday, Dairy Farmers of America said it was in “advanced discussions” on an acquisition. A merger would all but guarantee lower income for struggling farmers.
2. Albertsons Cancels Plated’s Subscription Business – Grocery Dive
The company’s Own Brand marketing and product development team will take over management of Plated as an “in-house culinary brand,” and expand with new product offerings across more store locations during 2020.
3. Chickpea Pasta Startup Banza Raises $20M to Disrupt Traditional Comfort Foods – Forbes
The funding round was led Enlightened Hospitality Investments, and will go towards growing Banza’s sales team, expanding its marketing efforts, as well as improving and creating new products.
4. DoorDash Picks Up Another $100M at Nearly $13B Valuation – Bloomberg
The investment comes on top of a $600m funding round led by Darsana Capital Partners. The additional $100m comes from accounts advised by T. Rowe Price Group and is part of the same funding round.
5. Ex-Uber Team Starts a Kitchen Rental Business to Rival Travis Kalanick’s – Bloomberg
A new startup called Virtual Kitchen plans to announce a $15m investment and an expansion.
6. Ex-Uber Team Starts a Kitchen Rental Business to Rival Travis Kalanick’s – Bloomberg
A new startup called Virtual Kitchen plans to announce a $15m investment and an expansion.
7. New Study Shows the EAT-Lancet Diet Is Unaffordable for At Least 1.6B People – New Food Economy
The buzzy “Planetary Health Diet” can’t work for the vulnerable populations who need it most.
8. EPA to Limit Science Used to Write Public Health Rules – New York Times
A new agency rule would restrict the science that can be used in drafting health regulations by requiring researchers to turn over confidential health data.
9. UK: Glaxo Wants to Look Inside Your Gut to Discover New Vaccines – Bloomberg
The UK pharma giant is teaming up with Viome to gain a deeper understanding of the universe of bacteria that dwell in the digestive tract and the role they play in the body’s immune system.
10. 2018 U.S. Food & Beverage Startup Investment Report
Over $1.45B was invested across 247 deals in 2018, according to the research in our second annual investment report produced in partnership with Ryan Willams. Check out the report for a deep dive into the investor and investment trends. We also share a complete list of deals and acquisitions.
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