Plus News From Miyoko's and PowerPlant Partners͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ 
 
 
NoshAugust 02, 2023
DAILY BRIEFING
Today's news & insights for the food industry.

📰 Today's Top Story

🏆Meet the NOSH Notables of 2023: 50 People Influencing the Food Business

🏆Meet the NOSH Notables of 2023: 50 People Influencing the Food Business

As we head into the final half of 2023, we’re excited to present the first-ever NOSH Notables list. It compiles fifty people you should know: if you’re trying to fund your company, improve as a leader, make a difference in the food system or refine a certain business tactic, consider a strategy, talk to these people, track what they’ve done or consider what they might do, think of them as coaches, icons, resources.

So what makes someone notable? We’ll admit, these aren’t the people who are necessarily the loudest -- in fact, there were no PR teams involved in the making of this list. But they are the people who are shaping the industry, be it via making smart investment decisions, connecting people, moving brands forward, or working to help people and the planet. 

Want a sneak peek? (Though trust us, you’ll want to read the whole list). Here are some of the individuals you’ll find in our top fifty:

  • A newly appointed ketchup queen helping a decades-old food company get cool again; 
  • The social media expert that has made you laugh with a thousand memes;
  • A black belt in karate who is shaping the nation’s eating habits;
  • The buyer with a poker face, but plenty of time for local brands;
  • A hair stylist who also is a doctor and a scientist and, um, President;
  • An executive who went from peanuts and protein to Private Equity.

Intrigued? You’ll have to check out the full list to find out more. 

 

👩‍💻People Moves

🥑 Chosen Chooses New CEO

Just missing National Avocado Day (July 31 for those wondering) avocado-oil and condiment company Chosen Foods has brought on Douglas MacFarlane as CEO. McFarland most recently spent two years as CEO of candy brand SmartSweets, departing earlier this year in February. 

Outgoing CEO Gabriel Perez Krieb will assume the role of executive chairman. Under Perez Krieb, who was CEO for seven years, Chosen expanded from avocado oils into mayo and dressings. The company briefly launched cooking sauces and guacamole before turning its attention back to a more focused set of categories. 

Chosen was bought by Butterfly Equity in 2021 as part of the firm’s strategy of acquiring brands that operate across the “food value chain.” Up until the Butterfly deal the oil brand was owned by seed supplier and oil producer Sesajal S.A de C.V. Perez Krieb came to Chosen after holding an executive position at Sesajal. 

“Today marks the bittersweet end of an extraordinary chapter in my career and I am filled with nostalgia, gratitude and optimism,” said Perez Krieb in a press release. “My journey with Chosen Foods, from supplier to CEO, has been an incredible 10-year ride.” 

 

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🧀 Miyoko’s Hires New CEO

There’s a new big cheese (or is it big alt-cheese) at Miyoko’s Creamery. The California-based vegan creamery announced yesterday that Stuart Kronauge has been appointed CEO, succeeding former CFO and interim-president/CEO Jon Blair. 

Her hiring comes after a six-month long executive search to replace the company’s namesake founder, Miyoko Schinner. Blair, meanwhile, left the alt-dairy company in June. 

Kronauge most recently served as CEO of The Juice+ Company, a fruit and vegetable-focused nutrition brand. With over two decades of CPG experience, Kronauge brings a range of skills to Miyoko’s, spanning retail sales to marketing and brand management. She spent the majority of her career in various positions at The Coca Cola Company and, in 2020, joined Beyond Meat for a year-long stint as CMO. 

“Stewarding the next era of the leading plant milk dairy brand is a serendipitous next step in my career and personal journey, as a plant-based eater myself,” Kronauge said in a press release. “I’m enthused to continue the important mission and core values of craft, compassion, conviviality and courage on which the company was founded.”

 

✨ What You Need to Know ✨

💰PowerPlant Gets New Name; Investment Strategy

Venture firm PowerPlant is moving beyond plants with the announcement of its new moniker: GroundForce Capital.

The name change is designed to support the firm’s new investment model, which was first hinted at last fall when GroundForce, then PowerPlant, said it would move from investing solely in food and beverage brands to also placing capital in consumer technology, service and enablement companies focused on improving “human and planetary life.” While plant-based food will remain a core pillar of the firm, the company said in a press release yesterday, it will also look to invest in companies lowering carbon emissions, exploring regenerative food production, and launching “healthier” options. 

GroundForce will continue to write checks of $15 million to $50 million in emerging and growth stage companies with revenues ranging from $20 million to over $100 million. The firm is currently operating out of its $330M PowerPlant fund III, which has been renamed GroundForce Growth I. Investments from GroundForce I include Miyoko’s Creamery, Liquid Death and Partake Brewing. 

 

👎 Chobani Loses Calorie Challenge Against Danone

The National Advertising Division (NAD) has determined Dannon Light & Fit Zero Sugar yogurt's on-pack, 50 calorie claim, is supported by Danone’s own “confidential evidence” on the product’s nutritional attributes. 

The challenge was brought by competitor Chobani, which makes the only other yogurt on the market that's free from both sugar and artificial sweeteners. Chobani submitted the complaint with supporting evidence of its own including calorie calculations and third-party testing, however NAD said that data was not any more persuasive than the information provided by Danone. 

Next up: someone challenges Dannon that their fruit is not actually on the bottom. 

 

🚀Moonshot Lands In Patagonia

🚀Moonshot Lands In Patagonia

Five months after acquiring cracker brand Moonshot Snacks, Patagonia Provisions (the food and beverage division of lifestyle company Patagonia) is rebranding the line of crackers to reflect its new ownership. The 4-SKU line of regeneratively grown wheat-based crisps will now share the same name and aesthetic as Patagonia's wider food portfolio, which also includes dried fruits, tinned fish and pasta. Moonshot founder Julia Collins said in a post on LinkedIn that Patagonia will still source the cracker ingredients from Moonshot’s original suppliers, all flavors and recipes will remain the same and the product’s existing retail partners will also continue to carry the product. While the packaging keeps Moonshot's "no added sugar" claim, it now sports callouts for "simple ingredients" and "made with regeneratively grown wheat." The crackers are also available on Patagonia’s ecommerce platform. “Rest assured, nothing will change about the crackers other than the packaging,” Collins wrote.

Go Deeper: Watch Patagonia Provisions and Moonshot Snacks Leaders Weigh In On The Acquisition

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