Source: CNBC
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.
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A California jury ordered Monsanto to pay $289 million in damages to Dewayne “Lee” Johnson, a man dying of cancer, which he claims was caused by exposure to Roundup. This ruling may have opened the floodgates for thousands of plaintiffs with similar concerns. Farmer Business Network, the independent farmer-to-farmer network, is launching its own brand of seed and model for seed development and direct-to-farm distribution called F2F Genetics Network.
Constellation Brands announced a $4 billion investment in Canadian cannabis producer Canopy Growth. The biggest known deal in the marijuana industry shows just how far traditional alcoholic beverage companies are willing to go to find growth.
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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2. Monsanto Was Just Ordered to Pay $289M to a Man Who Says Its Weed Killer Caused His Cancer – Vox
A former school groundskeeper claims Monsanto’s weed killer Roundup gave him terminal cancer. The jury order could open the floodgates for thousands of other pending lawsuits.
3. What Corona Owner’s $4B Bet on a Marijuana Firm Says About Pot’s Future – New York Times
Constellation’s investment in Canopy shows just how far traditional alcoholic beverage companies are willing to go to find growth.
4. Farmers Business Network Dives Into Seed – AgPro
Farmers Business Network is launching its own brand of seed and model for seed development and direct-to-farm distribution called F2F Genetics Network.
5. AgTech Investment and the Future of Food – All About Alpha
Finistere Ventures and Pitchbook teamed up to report 2018 Early-stage Agtech, a look into the earliest stages of an agtech portfolio company–the angel and seed stages. Seed-stage investing hit a record high in 2017, $89.5m divided among 86 deals.
6. Third Point, Campbell Heir Push Soup Maker to Sell – Wall Street Journal
Activist investor Third Point LLC is pushing for a sale of Campbell Soup Co with the help of an heir to the soup company’s founder. It spent more than $686m since mid-June, acquiring a 5.65% stake in Campbell.
7. Why Back to the Roots Inked a Historic Partnership with Nature’s Path to Bring Organic Cereals to Every School in America – Food+Tech Connect
Back to the Roots explains why it entered a licensing deal with Nature’s Path and how they plan to scale their organic cereal line to schools nationwide.
8. Aldi Stores Are Getting a $5.3B Update — and the Result Is Almost Unrecognizable – Business Insider
Chuck Eggert will soon open Basics Market, a natural store that seeks to take health, education and meal assembly to the next level.
9. Fighting Food Waste, Full Harvest Raises $8M to Bring Excess Produce to Commercial Buyers – TechCrunch
The San Francisco startup has closed an $8.5m series A round led by Spark Capital, with Cultivian Sandbox Ventures joining the round.
10. Kroger to Sell Groceries on Alibaba Site in China – Wall Street Journal
Kroger will open an online storefront on Alibaba’s Tmall Global site with an initial product offering that includes dietary supplements and private-label products, much of it natural and organic goods.
11. BlueNalu Raises $4.5M As It Aims to Create Seafood from Fish Cells – FoodBev
New Crop Capital served as lead investor and was joined by a coalition of 25 venture organizations and individuals. Funding will allow the company to aggressively develop its technology platform and commercialization strategy.
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