Source: Freshly
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.
In retail news, Nestle has acquired New York-based meal delivery startup Freshly for $1.5 billion. Muji has launched a line of faux meat products in its home country, Japan.
In other news, tech delivery companies infused $218 million into Proposition 22, a measure that would exempt app-based transportation and delivery companies from classifying their workers as employees. California voters approved of the bill this week.
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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. Nestle Acquires Healthy Meal Startup Freshly for Up to $1.5B – TechCrunch
The NY-based startup sells ready made meals across 48 states with a forecasted sales of $430m for 2020. The acquisition will help it expand in the US market.
2. Japan: Muji Is Selling Its Own Plant-Based Meat – Food & Wine
The Japanese housewares chain has introduced four RTE faux meat products in its home country.
3. Cannabis Company Aphria to Acquire SweetWater Brewing for $300M – Food Dive
This acquisition will give Aphria already established manufacturing, marketing and distribution assets in the US as cannabis gains momentum in the country.
4. California Voters Approve Tech-Bankrolled Campaign to Deny Benefits to Food Delivery Drivers – Eater
Doordash, Uber, Postmates and others poured over $218m into the race.
5. REEF Technology Raises $700M from SoftBank and Others to Remake Parking Lots – TechCrunch
Funds will be used to scale to 10k new locations around the country and transform parking lots into “neighborhood hubs.” The company has a cloud kitchen business and plans to launch an open-air entertainment venue in Austin.
6. UK: Ocado Spends $287M in Retail Robotics Double-Swoop – AgFunder
The company is buyings Kindred Systems, which designs picking and packing robots for online fulfillment centers, for $262m. It also purchased robot arm company Haddington Dynamics for $25m.
7. How Four Years of Trump Reshaped Food and Farming – Civil Eats
No matter who wins the White House on Tuesday, policy changes over the last four years will have long-term impacts on the food system—from the farm economy to food access.
8. Bits x Bites Closes $30M for Its New China Agrifood Tech Fund – The Spoon
The first portfolio investment for the new fund is China-based essential nutrients startup Mojia Bio. The group intends to close the rest of the funding in the coming months.
9. Food & Ag Anti-Racism Resources + Black Food & Farm Businesses to Support
Check out our list of resources to learn about systemic racism in the food and agriculture industries. We also highlight Black food and farm businesses and organizations to support.
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