• 🌽 FFUPs Eyes C-Stores With Single Serve Packs
• 🍇 Seal the Seasons To Expand Local Supply Chains With Whole Foods Loan
• 💪 Organic Trade Association Names New co-CEOs
• 🏪 7-Eleven to Acquire 204 Stripes Stores

Food tech company Voyage Foods ended 2023 with a hefty new investment. The Oakland, California-based company brought in nearly $22 million in a round that included existing investors Valor Equity Partners, Horizons Ventures, UBS O’Connor and Level One Fund, according to a December 29 SEC filing.

💰 The new capital is part of a $30 million round that, if all is secured, will bring the company’s total funding to around $70 million. The company last raised $36 million in May 2022.

Founded in 2020 by Adam Maxwell, a food scientist and former product developer for molecular spirits brand Endless West, Voyage Foods’ goal is to fix and “future proof” the food system by finding new ways to make popular food items like nut butters, chocolate and coffee.

Its three-plus years in business have produced two retail products – a Peanut-Free Spread and a Hazelnut-Free Spread – both of which are free from the top nine allergens and claim to be more “environmentally ethical.” In October, the company announced that its retail products were in over 1,600 stores including distribution in select Walmart locations.

♻️ Voyage has positioned itself as an environmentally sustainable and allergen-friendly ingredient supplier as well. The company makes a bean-less coffee using chickpeas, rice hulls and green tea-derived caffeine as well as a cocoa-free chocolate for foodservice and private label use.

In addition to its private label business, Voyage has also found space partnering with other food makers to bring its innovation to co-branded products. Rudi’s Bakery is using Voyage Foods’ Peanut-Free Spread in its new frozen innovation, an Uncrustables-like Sandos product.

Read the full story on Nosh. 

Seal the Seasons announced it has received a loan from Whole Foods Market to invest in new specialty fruits supply chains for Carolina native varieties, such as the Muscadine grape, paw paw, watermelon and huckleberry.

🍓 Seal the Seasons operates in six regions of the U.S. and sells 50 locally and regionally grown frozen fruits and vegetables that are distributed in approximately 6,000 retail locations. 

💸 The new capital came through Whole Foods’ Local Producer Loan Program which will see Seal the Seasons work directly with USDA organic certified family farms that meet standards for regenerative organic certified farming practices.

🧑‍🌾 “It is inspiring that Whole Foods Market recognizes the quality of locally grown produce and thinks outside the box to fund innovative financing programs to increase the merchandising of locally grown items for their shoppers,” said Patrick Mateer, CEO of Seal the Seasons.

This week, the Organic Trade Association announced the appointment of its new co-CEOs, Tom Chapman and Matthew Dillon.

⏪ Chapman joined OTA as CEO in April 2022, bringing with him 20 years of industry experience from brands like Clif Bar and Numi Organic Tea. 

🧑‍🌾 Dillon was raised in an agricultural community in Nebraska and has held a variety of positions in organic food and farming, working from seed to shelf. 

🤝 As co-CEOs, Chapman will lead the association’s regulatory and technical affairs work and oversee the development of association programs, operations and financial management. Dillon will manage the organization’s public relations, policy agenda, member engagement and fundraising efforts. 

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Puffed corn snack brand FFUPs is looking to bring its “bombastic branding” to a wider audience with the roll out of a new single serve format this year that better caters to c-store consumers, deli counter converts and makes for easier, inexpensive sampling opportunities. 

🆕 The brand will continue to sell its multi serve 4 oz. packs online and in grocery but believes it can encourage trial and build brand awareness in the convenience channel with the smaller 1 oz. bag.

🧂 FFUPs also has plans to expand its lineup with two new flavors this quarter and intends to launch between eight to 10 new flavors by the end of the year. Currently it sells 5 SKUs including Grocery Store Cheddar, Professional Salt & Vinegar, Semi Historic Sour Cream and Onion, Instant Hot Chocolate and Unambiguous French Toast.  

💭 “What makes us unique in the market is different flavors on puffs, which is not rocket science, but hopefully that’s how we'll make our mark on the category,” said founder and CEO Sam Tichnor.

Read the full story on Nosh for more on the brand’s inception and where it is looking to steal share in the snack space.

Convenience store giant 7-Eleven announced today that it will acquire 204 stores from Sunoco LP, including Stripes convenience stores and Laredo Taco Company restaurants. The transaction is expected to close “promptly” after it secures regulatory clearance and completes other customary closing processes. 

🤝 The new stores are located across West Texas, New Mexico and Oklahoma and join the over 13,000 7-Eleven, Speedway and Stripes locations the c-store giant operates, franchises and/or licenses throughout the U.S. and Canada. 

🇺🇲 Following the completion of the transaction, 7-Eleven will own and operate all Stripes and Laredo Taco Company locations in the U.S.; the companies first joined 7-Eleven’s family of brands in 2018.