Kodiak Cakes co-founder Cameron Smith jumped back into the CPG game this month, alongside a handful of his former colleagues, with the launch of protein-enhanced pretzel brand Kindling Snacks.

But as high-protein product iterations proliferate across grocery categories, Smith said he was met with surprise and skepticism when he approached this new innovation.

“There were a couple times that we tried to innovate at Kodiak and we couldn’t get the product right, either from a texture or flavor standpoint, with meaningful protein and nutrition – it just didn’t work and so that was my hunch [about this gap in the market],” said Smith.

Nosh Insiders can access the full story for all of Smith’s insight including why he is taking a different approach at Kindling, how the company is capitalizing with an influencer-investors network and more.

👀 Despite a return to growth in Q2 – including a 2% rise in net sales for its grocery and snacks segment – Conagra Brands has slashed its annual profit forecast as president and CEO Sean Connolly expects the business to be impacted by two major headwinds in the second half of the year: inflation and unfavorable exchange rates.

📉 CPG giant General Mills downgraded its FY2025 forecast as it implements price cuts in priority categories to draw consumers back in on value. During yesterday’s earnings call, CEO Jeff Harmening said, “While stepping up our investment is impacting our profit for the back half of the year, I’m confident that it positions us for stronger growth in fiscal 2026 and beyond.” 

🍟 Lamb Weston appointed current COO Michael J. Smith as its new CEO and president amid missed Q2 earnings and a “challenging operating environment,” said outgoing CEO Thomas P. Werner (who vacated his board seat as well). Lamb Weston reported that dollar sales declined 8% in Q2 as foodservice demand waned for frozen potato products.

Stay tuned for additional details on Nosh later today. 

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The CPG Week team has returned from Nosh Live and BevNET Live to dive into the latest M&A activity. The podcasters sift through the important questions facing grocery retail and packaged food consolidation after the Kroger/Albertsons merger fell apart, dive into why Mondelēz made an attempt to acquire Hershey again and what the future holds for frozen potato product maker Lamb Weston. The CPG Weekers also shared their takes and highlights from BevNET Live last week.

Click here to listen to this week’s episode.

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• News of fresh capital flowing into the CPG-VC world
• Why an Icelandic brand is heading to Austin
• Application details for a glizzy new gig
• Progress updates on U.S. plastic reduction

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