May's Lunch Box 🧰

Lots of exciting funding news along with all of the usual highlights in this month’s Lunch Box.

Let’s get to it!

REAL ESTATE HIGHLIGHTS

FedUp Foods, a private label, independently owned fermented beverage manufacturer, is adding a new beverage facility to its operations in Wilmington. The project includes renovating an existing building, which will be the company’s third on the East Coast. The company currently has operations in Marshall and Wilmington, NC, and Erwin, TN. The facility will enable the company to add approximately 200,000 barrels to production per year, according to the company.(source: Food Business News)

Randall Foods leased 31,389 square feet at 6031 Malburg Way, Vernon, CA.

Barney & Co. has invested in a second manufacturing facility in Fresno, CA. The facility will enable the company to expand beyond its current offering of almond butter with a range of nut butters by first introducing Barney peanut butter. Barney’s renovated the 8,500-square-foot facility to maintain a peanut-free environment at its almond butter facility. (source: yahoo! finance)

NOTABLE AGREEMENTS, FUNDINGS & ACQUISITIONS 

Boulder-based Meati Foods closed a $100 million C-1 funding round led by Grosvenor Food & AgTech. The money will be used to help the mycelium-based meat maker “meet the growing demand for its products.” The board and lead investors have decided to not disclose the C-1 valuation, CEO Phil Graves said in a statement to Food Dive. In addition to the funding boost, Meati announced the expansion of its products into 2,000 Kroger Family Stores, including Kroger, Ralphs, and Mariano’s, among others. (source: Food Dive)

Voyage Foods, a maker of peanut-free spread, chocolate without cacao and coffee without coffee beans, has raised $52 million in a Series A round. The startup’s total funding exceeds $94 million, according to the company. The round was co-led by Level One Fund and Horizons Ventures. SOSV and Collaborative Fund also participated. Voyage will use the funds to expand manufacturing facilities and grow personnel. The company recently partnered with Cargill to further expand its reach with Cargill becoming its new global distributor. (source: Food Business News)

Serenity Kids, a leading brand in shelf-stable pouched baby food, has successfully closed a $52 million minority investment with Stride Consumer Partners LLC, a notable growth-equity firm renowned for backing emerging consumer brands. Founded by Serenity and Joe Carr, Serenity Kids emerged from a personal quest to create baby food that marries low sugar content with balanced macronutrients. Launched in 2018, it quickly became the fastest-selling brand in its category across various grocery channels. (source: Edible Planet Ventures)

The Netherlands-based cultivated meat company, Mosa Meat, has raised $42.9 million in funding. Mosa Meat, which introduced the world’s first cultivated beef hamburger grown directly from cow cells, according to the company, said it will use the funds to scale up its production process, drive down the cost of production and prepare for market entry. The round was led by Lowercarbon Capital and M Ventures. Invest-NL, LIOF, Limburg Energy Fund, PHW Group, XO Ventures, Doux Investments, and InvestEU, along with others, joined the round. (source: Food Business News)

WHAT I’M CONSUMING (AND ENJOYING!)

🐟 How can robotics cause a major shift in the Japanese seafood economy? Read this TechCrunch feature on Shinkei to find out.

🍄 What do mushrooms and adding protein to pretty much everything have in common? They happen to be two of the six trends driving the functional snack market. Find out the rest of the trends here.

🍭 I’ll be honest. I’m not sure how much of this new food I’ll be trying, but Food Dive says these 2024 Sweets & Snacks Expo products are “attention-grabbing,” so I thought I’d share the list and let you make up your own mind.

🪴 Plant molecular farming to produce… protein?! Check out what NewMoo is doing.

Thanks for reading.

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 different components of the food & beverage industry.

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

P.S. Whenever you’re ready, here are 3 ways I can help you with your real estate.

1. A new home for your growing business. The good news - you’re growing! The bad news - you need to move and you don’t know the market. I can help.

2. Sublease your space. You’ve outgrown your space and need to move but don’t want to pay two rents? I got you.

3. Time to renew your lease? Want to make sure you’re getting a fair deal from your Landlord? In my experience, you can never be too certain. (BTW, I recommend starting the lease renewal process 12 months out at a minimum.)