May's Lunch Box

In this issue, I recap some real estate highlights and funding, spotlight a plant-based 2022 recap, and then share some interesting content I’ve been consuming.

Enjoy!

REAL ESTATE HIGHLIGHTS

Caribou Coffee, which has over 750 units globally, has signed several multi-unit franchise agreements to develop over 300 domestic units. The additional units follow the company’s 50th opening of its drive-thru-focused Caribou cabin format. (source: Restaurant Dive)

Mondelez opened its new global R&D innovation center in Whippany, NJ, on May 1. Mondelez said it invested $50 million in the facility, which includes pilot and scale-up capability for cookies, crackers, and candy, including such brands as Oreo, Ritz, and Sour Patch Kids. (source: Morris County, NJ)

Tyson Foods Inc. completed an $83 million expansion project at its Claryville, Kentucky, prepared meats plant. The additional 15,000 square feet and updated equipment have increased the company’s production by 50%. (source: MEAT + POULTRY)

NOTABLE FUNDING

Cure Hydration has raised $5.6 million in Series A funding to support retail expansion. The company's line of electrolyte drink mixes is rolling out to 15,000 stores nationwide. (source: PR Newswire)

Rob’s Backstage Popcorn, a brand launched by The Jonas Brothers and The Naked Market, has raised $7 million in a celebrity-backed Series A funding round to support national growth at Walmart, Kroger, Albertsons, Sam’s Club and other retailers. 💡WHAT WE FOUND INTERESTING: Founded in 2019, San Francisco-based The Naked Market conceptualizes and commercializes snack brands, tapping into direct relationships with consumers and supporting various causes aligned with each concept. (source: FoodBusinessNews)

8 Myles, a frozen foods startup, has raised $1.05 million in seed funding to expand operations and hire a full-time sales and marketing manager. The company markets and distributes a line of frozen macaroni and cheese meals featuring whole grain elbow pasta tossed in cheese sauce and topped with a breadcrumb crust. They market themselves as “clean” comfort food. (source: FoodBusinessNews)

Hero Bread™ announces Series B fundraise and national retail launch in 2,300 stores. On the heels of its Series B fundraise - bringing the total funding to $47.5M - Hero Bread™ is announcing the national retail launch of its bread and baked goods. Driven by a massive 54% consumer repeat purchase rate in the first five months on grocery shelves, Hero Bread™ is expanding distribution from 23 to 2,300 grocery retail stores, with further growth expected in the back half of the year. (source: PR Newswire)

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TRENDS

The numbers are in! This Food Dive article focuses on plant-based foods and the plant-based food industry on the whole as well.

“Plant-based food sales reached $8 billion in 2022, an increase of 6.6% from the previous year, according to statistics from SPINS and reported by the Plant Based Foods Association and the Good Food Institute.”

If you’re involved in the plant-based food world, this Plant Based Foods Association report which the above-mentioned article pulls from, is worth your time and has some interesting nuggets.

WHAT I’M CONSUMING (AND ENJOYING!)

🧀 The Future of Gourmet Cheese Relies on Technology Used to Make Insulin. The title of this Sante Magazine article says it all… but will the cheese be as good?!

🥫 How Heyday Canning Is Disrupting The Bean Business With Bold Flavor And Good Design. Interesting Forbes interview with the CEO and Co-Founder of Heyday Canning, Kat Kavner, on how and why she chose to try and disrupt the canned food aisle.

🍫 Establishing a new brand is never easy. Mooski, a San Diego startup, is tapping into the refrigerated, ready-to-eat offerings positioned as premium and free from preservatives trend with a line of chilled oat bars inspired by muesli. Mooski’s Founder, Robert Broome, drew on his experience at RXBAR and Clio before venturing out on his own. (source: FoodNavigator)

Thanks for reading.

If you have any feedback or suggestions, we’d love to hear it.

Also, we’d like to try a new thing… if you’d like your office and/or manufacturing space or business profiled, let me know. It’s always fun to explore and share the many different components of the food & beverage industry.

And, as always, I’m here to help with your real estate needs. Feel free to pop on my calendar: https://calendly.com/erik-crea

Erik Stiebel
Founder and Vice President
CA DRE License #02080746
(c) +1 424.241.4795
[email protected]