Plus, J.M. Smucker to sell Voortman͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ 
 
 
NoshOctober 22, 2024
DAILY BRIEFING
Today's news & insights for the food industry.

In this issue of Daily Briefing

  • 🍪 Smuckers To Divest Voortman
  • 🍜 Distribution: Bowlcut Lands Central Market
  • 🍔 Impossible Goes ‘Lite’
  • 🍜 DayDayCook Issues Shareholder Update
  • 🍕 Lunchly Launches With Mold Issues
  • 🇬🇧 Is The U.K. Ahead Of The Curve On F&B Trends?

📰 Today's Top Story

🍪 TikTok-er Dana Hasson Debuts Homemade ish

🍪 TikTok-er Dana Hasson Debuts Homemade ish

Content creators have brought plenty of brands to the crowded spirits and coffee categories in recent years, but fruitful opportunities still lie in other spaces. 

Take the baking mix aisle for example. The set has seen its fair share of celebrity personalities, including Dolly Parton’s growing collaboration with Ducan Hines to actress Sarah Michelle Gellar’s now-defunct Foodstirs. And today, the set got a slight bit bigger with the entrance of self taught baker-turned-content-creator Dana Hasson’s new brand, Homemade ish.  

  • Hasson has amassed three million subscribers on TikTok with easy-to-follow “glammed” (read: glittery) recipe videos filmed in her NYC apartment. 
  • Hasson is marketing Homemade ish as a premium baking mix designed for consumer convenience and customizability that operates under the tagline, “Fake it till you bake it.” 

The New York-based brand is rolling out with a Cookie Starter Kit featuring a sugar cookie base crafted with clean ingredients – and edible glitter. 

Data shows the segment is ripe for disruption. According to Circana, dollar sales in the overall baking mix category grew 1.5% to $1.86 billion in the 52-week period ended September 8. However, the cookie and cookie bar mix segment saw sales slide 5.1% to $171 million.

“I want people to be able to experiment. [Consumers] still have the creative ability to make whatever cookie they want, but with minimal measuring,” said Hasson. 

Homemade ish hopes to launch additional baking mix SKUs within the next six to 12 months and Hasson said the recipes have already been developed. After that, it’s on to retail with an eye toward the natural and mass channels, such as Whole Foods Market and Target

Insiders can learn more about Homemade ish and its plans for scale in the full story on Nosh.

 

✨ What You Need to Know ✨

🍪 Smuckers To Divest Voortman

🍪 Smuckers To Divest Voortman

The J.M. Smucker Co. announced it will divest low-sugar cookie brand Voortman to Second Nature Brands in a transaction valued at approximately $305 million. The news comes a year after Smucker acquired the brand in its $5.6 billion purchase of Hostess Brands.

🏭 The transaction will include all Voortman trademarks and its leased manufacturing facility in Canada as well as 300 employees who will transition over to Second Nature.

💬 What they said: "The divestiture of the Voortman brand is an important step in our integration plans that will enable the execution of our Sweet Baked Snacks strategy through dedicated focus and ongoing investments in the Hostess brand, advancing our leadership in the sweet baked goods category.”Mark Smucker, chair of the board, president and CEO

📈 The company said it expects the Voortmans brand to generate $150 million in full-year net sales in fiscal year 2025. 

Stay tuned for the full story. In the meantime, catch up: Hostess Sells To J.M. Smucker For $5.6B

 

🍜 Distribution: Bowlcut Lands At Central Market

🌶️ Next generation Asian-American sauce brand Bowcut will roll out its two core products to all Central Market locations across Texas this month. The brand’s stir fry sauces are now available at the H-E-B-owned grocer in Classic and Spicy Lemongrass flavors for $9.99 per 10 oz. squeeze bottle.

🐮 Stryve Foods announced a slate of new retail commitments including placements at numerous club stores following the completion of a rotation at Costco’s Southeast locations. Alongside that announcement, the brand will also roll out to select BJ’s Wholesale Club stores.

🍪 Frozen dessert snack maker Doughlicious has locked in its first mass channel national account. The frozen cookie dough and gelato bite brand will now roll out to Target stores across the U.S. where it will be on-shelf for $6.99 per 6-count box.

🐔 Blackbird announced the launch of its Seitan-based alternative chicken wings at over 100 Wegmans stores nationwide this month. The wings will be available in Buffalo and Korean BBQ flavors.

Nosh Insiders can access the full roundup insight into these brands’ channel strategies and additional distribution news from around the industry.

 

🍔 Impossible Goes ‘Lite’

Plant-based meat maker Impossible Foods unveiled its latest innovation today, Lite Beef, at healthcare conference HLTH 2024 in Las Vegas. The product launch was accompanied by a new “Health Hub” which attempts to educate consumers on the health advantages of its products over animal-based meat.

🤔 Impossible Lite Beef boasts 21 grams of protein per serving and no cholesterol and no trans fat; the brand claims it has 75% less saturated fat than 90/10 ground beef from cows.

🆕 The Lite Beef rollout comes on the heels of a slate of new SKUs that rolled out earlier this month including The Lion King-themed nuggets, seasoned Meal Makers grounds and Corn Dogs.

🥩 While Impossible positions toward health, competitor Beyond Meat is trying to pull even closer to conventional animal meat with its whole muscle steaks made with mycelium and a new product platform that utilizes avocado oil.

 

🍜 DayDayCook Provides Shareholder Update

DayDayCook, an Asian consumer food platform company, issued today a letter to shareholders detailing its improved corporate infrastructure, acquisition opportunities and debt reductions while reflecting on its first year as a publicly traded company.

👀 To enhance its operational capabilities, DDC has established a new finance and accounting team; the company recently appointed co-CFOs Tony Tao and Jeff Ervin

⏪ In August, the company eliminated $4.8 million in debt and plans to use cash on hand and “other strategic measures” to further reduce its debt by the end of the year.

🤝 After completing the acquisitions of Yai’s Thai and Omsom, DDC said it remains disciplined in its analysis of acquisition opportunities, “focusing on targets that not only broaden the product portfolio but also deliver meaningful financial and operational synergies.”

💭 With our portfolio of well-recognized Asian food brands, we have a robust foundation for sustainable growth. We believe that DayDayCook is well-positioned to become the most influential player in the Asian food market in the U.S.,” said Norma Chu, founder and CEO, in the letter. 

 

🍕 Lunchly Launches With Mold Issues

Content creator-backed meal kit brand Lunchly is apparently facing production challenges right out of the gate after a slew of consumers have taken to social media platforms to share images of non-expired, yet moldy products.

⛔ The brand launched in September as a joint venture between Logan Paul and KSI’s hydration brand PRIME and MrBeast’s chocolate company Feastables; the mold issue appears to be linked to the Pizza varieties which includes crackers, a protein and cheese.

🧇 In other food safety news: TreeHouse Foods has expanded its voluntary recall to include all products including frozen waffles, Belgian waffle and pancake products due to potential Listeria contamination. 

 

🎙️ Now Streaming: Taste Radio

🇬🇧 Is The U.K. Ahead Of The Curve On F&B Trends?

🇬🇧 Is The U.K. Ahead Of The Curve On F&B Trends?

How do U.K. CPG brands compare to their U.S. counterparts? On the ground in London, the hosts discuss their experience at last week’s Cheers! The Drinks Summit event and highlight innovative snacks and beverages they encountered at visits to local retail chains and specialty stores.

Listen to the episode now.

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