• 🆕 Walmart's New ‘bettergoods’ Private Brand
• 🏋️ The Simply Good Food Company Acquires OWYN
• 🚚 Getir Gets Out…Of The U.S.
• 🥊 Punch Edibles Acquires Partner Brand
• 📣 Conagra Names EVP of New Platforms/Acquisitions

Circular models – where products are sold in infinitely reusable packaging – have emerged as an idealistic solution for the CPG industry’s waste reduction efforts for one simple reason: there’s no waste created.

While most circular solutions companies have based their business on the old milkman model, there have been challenges to scaling up those systems in a modern economy. 

A handful of companies, including Loop, Dispatch Goods and The Rounds, are taking on the challenge, working to make circular packaging a reality for contemporary, large-scale operations. But while they scale, figuring out the ideal packaging format, working to shift consumer behavior all while building out the necessary infrastructure and logistics have remained persistent challenges. 

“We’ve been able to prove that, from a health and safety point of view, we can cycle something as sensitive as baby food. There’s nothing that you can’t cycle,” said Tom Szaky, CEO of Loop. 

Though the company claims it can cycle anything, it has proven it can’t cycle just anywhere…or at least not yet. Loop has shifted its focus towards in-store retail partnerships outside of the U.S., specifically in Europe and Asia. After a cohort of in-store pilots, non-U.S. programs proved to be far more successful and it has contracted five major grocery partnerships overseas.

But Szaky claims it is not a lack of consumer willingness in the U.S. that drove the strategy shift. 

“Our plan is to create scale in Europe and Asia and then bring it back to the U.S., hopefully dovetailing that when the U.S. legislation [regarding circular packaging] is a bit closer to reality,” said Szaky.

Read the full story to learn about the companies and wide range of approaches working to make circular systems cycle seamlessly.

Today, Walmart debuted its latest private label brand, bettergoods, marking the retail giant’s largest store brand food launch in 20 years. The new business will make “trend-forward” ingredients and flavors accessible to all, with the announcement highlighting that consumers are more concerned than ever about high grocery prices. 

👀 Bettergoods’ portfolio encompasses nearly 300 products including frozen, dairy, snacks, beverages, pasta, soups, coffee, chocolate, and more. The items range from under $2 to under $15, with most products available for about $5. 

🌱 It will also see Walmart lean into plant-based offerings; the lineup includes Oatmilk non-dairy frozen desserts and plant-based cheese alternatives. 

⛔ Elsewhere, bettergoods’ “made without” lineup caters to different lifestyles, like gluten-free, and also features products crafted without artificial flavors, colorings or added sugars. 

Stay tuned to Nosh for more details on the new brand and launch strategy.

The Simply Good Foods Company (SGFC) is bulking up its brand roster, announcing Monday afternoon that it will acquire plant-based protein shake maker Only What You Need (OWYN) for $280 million in cash. Here’s what we know:

• SGFC will buy OWYN from existing investor United Nutritional Brands (an affiliate of Purchase Capital LLC), and minority investors.
• OWYN team as well as president and CEO Mark Oliveri will join SGFC and continue to lead the brand following the close of the transaction
• SGFC expects OWYN to reach $120 million in net sales this year, spanning both measured and natural channels. 
• The alignment between SGFC (which owns Atkins and Quest Nutrition) and OWYN will allow both to tap numerous synergies and share resources, including collective R&D expertise.

“OWYN reaches a new, incremental consumer segment which strengthens our category leading presence with retail customers. We are confident our go-to-market capabilities will accelerate profitable growth through accelerated distribution gains, increased household penetration and leveraging our cost-efficient supply chain,” SGFC president and CEO Geoff Tanner said in a release. 

Insiders can read the full story for all the details on this nutrient dense transaction.

Online grocery delivery company Getir is shifting focus back to its home country of Turkey “where it sees the greatest potential for long-term sustainable growth,” the company said in a statement. The news comes six months after Getir acquired FreshDirect from Ahold Delhaize for an undisclosed amount. FreshDirect is expected to continue operations in the U.S.

🛒 Getir grew during a boom in demand for fast (10 to 15-minute) grocery delivery in select markets, but after expanding into Western European countries and the U.S., online delivery platforms have struggled to rebound in a post-COVID period.

👋 The Turkish company is reportedly exploring a possible divestiture of some of its assets in the markets it is leaving, which contribute about 7% of its current revenue.

🤑 In total, Getir has raised about $1.8 billion over seven funding rounds, according to Crunchbase.

Multi-state cannabis company Punch Edibles & Extracts announced its intention to acquire Tempo Crackers, with founder Robert Holland coming along to continue guiding the brand post-acquisition as creative director. Punch, which already co-manufactures the THC-infused snacks, also makes branded gummies, chocolates and other indulgent edible treats under the Dr. Norm’s brand.

🏳️‍🌈 LGTBQ-founded Tempo makes high-potency hash crackers in two-packs. It has positioned the crackers as an ingredient to be used for cooking with THC.

🪴 The deal will open Tempo to new markets in Oklahoma and New York where Punch operates in the regulated adult-use channel.

⬆️ Punch was founded in 2013 and recently self-funded its expansion into the emerging New York market where it offers gummies and chocolates as part of its “Know Your Dose” catalog.

Conagra Brands this week named Noelle O’Mara EVP of new platforms and acquisitions, effective May 6. She will be responsible for identifying and scaling new growth platforms and acquisitions spanning strategy, product innovation and commercialization.

⏪ O’Mara joins Conagra with over 20 years of CPG industry experience, previously serving as group president at Tyson Foods and senior-level general manager at Kraft Foods.

💭 “Noelle’s leadership and track record of delivering results will be instrumental in advancing Conagra’s ambition to further scale emerging brands while delivering an ambitious innovation and growth strategy,” said Sean Conolly, president and CEO, in a statement.