• 🧑🏽‍💻 Good Food’s Future Focus
• 🍽️ Kevin’s Welcomes New CEO
• 🌲 Woodland Foods Buys NJ-based Idan
• 🥒 Grillos Pickles Transitions To Twist Tops

The common belief in food and ag industries is that the adoption of environmentally sustainable practices comes at a financial cost. However, new research from Rabobank found that the economic damage caused by a “business-as-usual” approach to food systems totals well above $10 trillion each year. 

In its latest Foodbytes Q1 2024 report, the multinational banking and financial services company details which sustainable practices, or “inputs,” are most likely to deliver near-term ROIs.

“Sustainable ag inputs must provide positive economic outcomes alongside environmental. This space is an efficiency play – the question that needs to be clearly answered is how do these new, sustainable, innovative inputs decrease cost on the farm budget,” said Michael Rinaldi, Rabobank head of sustainable business development, in the report. 

Upcycling, defined as a food loss prevention practice that maximizes the amount of an input utilized, presents an opportunity for disrupting middle supply chains. According to AgFunder’s 2024 Investment Report, $16.3 million went to food waste solutions last year, with over half that funding supporting “recycling solutions” where waste streams are used as animal feed, composted or for industrial purposes like creating renewable energy. 

Rabobank’s food transition team noted that all the way up to the farmer level, upcycling innovations can help growers find new, higher-value markets for side streams – making it economically viable to process excess. 

Elsewhere, precision fermentation – which leverages microorganisms to produce specific functional ingredients – garnered less investor appeal with smaller checks written for a broader range of applications. In Q1 2024, 25% of food tech searches in the Foodbytes Hub included the term “fermentation.” 

According to RaboResearch food ingredients specialist Sanne Wielders, a more discerning “animal-free market,” along with price and supply chain pressures on high-value ingredients, has driven the adoption of precision fermentation tech. The report states that products like vanilla, human milk oligosaccharides (HMOs), food coloring and bioactive ingredients are ready to be disrupted by this form of processing. 

Catch up on some of the latest upcycling industry moves from Spare Food Co.

The future of grocery shopping is now, and Good Food Holdings – the parent company of Bristol Farms, Lazy Acres, New Seasons, New Leaf and Metropolitan Market – is embracing it with open arms as it pilots new tech-optimized additions to its stores, like smart carts and integrated apps.

🧬 Good Food CEO Neil Stern told Nosh that the company began a store modernization initiative around 2020, introducing self-checkout kiosks at Bristol Farms locations, and has since rapidly embraced new technologies to modernize the shopping experience.

🛒 Smart carts, equipped with tablets, are chief among this new tech. They are being tested at several locations and aim to help consumers track their spending and locate new products. The carts may even open up a new revenue stream: paid ads.

🤖 Smart carts are just the tip of the iceberg though. The grocery chains have been adding new digital item tags, integrated phone apps, and exploring ways to utilize A.I. to better engage consumers.

For the full scoop, read the story on Nosh.

Globally-sourced plant-based ingredient purveyor Woodland Foods announced today it has entered into an agreement to acquire Idan Foods, a breadings and batters, coating systems, baking mixes, and seasonings supplier.

🏭 The deal is set to expand Woodland’s innovation capabilities for foodservice and industrial partners including the addition of finished product offerings, an expanded customer base, end market diversification and manufacturing scale and footprint. 

🗣️ "Idan is a strategic add-on for Woodland. The inherent strengths of Idan, including their commitment to quality and partnership with key customers, is a great fit with Woodland's broad channel reach, culinary capabilities, and global sourcing approach,” said John Buckles, CEO of Woodland Foods.

Nine months after its acquisition by Mars, refrigerated meal maker Kevin’s Natural Foods has a new chief. Today, the company announced Roxanne Bernstein will assume the role of CEO, joining the company this month and transitioning into her new role by July 1. 

🪖 Most recently, she served as EVP and president of ACCO Brands. Bernstein brings over 20 years of food industry experience, including leadership roles at Kraft, Kellogg's, and Post; she is also a West Point graduate and former Army Captain.

📈 According to Mars, Kevin’s saw 50% sales growth in 2023 and has continued on that trajectory in Q1; the brand also recently expanded into the frozen aisle for the first time. 

💬 "Roxanne's style of leadership and her impressive experience scaling and driving food brands make her the perfect choice to lead Kevin's Natural Foods into the next stage of growth, harnessing the agility, culture and customer obsession the business has thrived on," said Shaid Shah, Global President for Mars Food & Nutrition.

Pickle people tune in. For anyone that has ever “personally been victimized by opening your jar of Grillo’s Pickles” – the Boston-based brand has found a solution. 

☀️ This summer the briney brand is switching its Dill Pickle Spears over to a new twist top format that will roll out to grocery stores nationwide.

🆕 The brand’s pickle chips and pickle de gallo products will get the packaging upgrade later in the year and Grillo’s emphasized that even though it has a new look, “the pickles inside are made with the same fresh, crunch-tastic recipe.”