Gathered Foods, makers of Good Catch plant-based seafood products, announced the closing of a $32 million series B funding round, which includes two key industry investors: Greenleaf Foods and 301 INC, the venture arm of General Mills.
Led by Stray Dog Capital and Rocana Ventures and including impact investors such as Almanac Investments, CPT Capital, and New Crop Capital, the net proceeds from the investment will be used for expansion in distribution across North America, Europe, and into Asia, the opening of its manufacturing facility, and new product and foodservice channel launches in early 2020.
“Consumer demand of trailblazing plant-based alternatives is nearly insatiable, and this trend is led by taste and availability. This next phase for Good Catch is laser focused on meeting consumer desires with culinary applications across all channels,” said Chris Kerr, CEO and co-founder of Gathered Foods, in a company press release. “This round of investment emphasizes the food industry’s recognition of our strategy, our reception by consumers, and anticipation for more innovation to come.”
Good Catch products have a proprietary six-legume blend (peas, chickpeas, lentils, soy, fava beans, and navy beans), with an added umami flavor from seaweed and algae extracts. Good Catch products are now available in over 4,500 retail outlets across the United States and will be launching in the United Kingdom in the coming weeks.
Mondelēz International has announced an agreement to acquire a significant majority interest in Give & Go, a North American manufacturer of sweet baked goods.
Mintel has announced two trends that are impacting the global packaging industry this year: Ahead of the Recycling Curve and In-Store Refill.
Graphic Packaging International (GPI) has launched a new line of PaperSeal trays, offering brands and retailers the opportunity to replace modified atmosphere packaging (MAP) and vacuum skin packaging (VSP) plastic trays with a new barrier-lined paperboard alternative.
U.S. Secretary of Agriculture Sonny Perdue has announced the Agriculture Innovation Agenda, a department-wide effort to align resources, programs, and research to position American agriculture to better meet future global demands.
A study published in the journal Manufacturing and Service Operations Management suggests that in most cities, a small increase in the number of grocery stores would result in less wasted food, a significant contributor to climate change.