Read the full article from Food Processing here
Kraft Heinz has become the latest major food company to start a venture fund for systematic investment in new food technologies.
The industry giant recently announced the formation of Evolv Ventures, a unit with initial funding of $100 million that “will work with tomorrow's most innovative founders and companies,” said CEO Bernardo Hees. Evolv will be headed by Bill Pescatello, an investment-fund veteran who was a founding partner of a similar fund for NBCUniversal and GE Capital.
Kraft Heinz will use the money to invest in companies specializing in technologies that can be used for food processing and distribution, especially related to supply chain, e-commerce and direct-to-consumer marketing, Peescatello says.
John Bryan Jr., the former CEO and driving force behind Sara Lee Corp., passed away Oct. 1 at the age of 81.
Bryan built his family’s meat business into one of the food industry’s great powerhouses. He took over Bryan Foods, a specialty meat business based in his native northern Mississippi, in his early twenties, selling it in 1968 to Consolidated Foods. Bryan stayed on at Consolidated, eventually becoming its president and CEO, and changed its name to Sara Lee in 1985.
Under Bryan’s leadership, Sara Lee concentrated on building strong brands, venturing into apparel as well as food. He also was an early entrant into overseas markets.
By Kane County Chronicle
GENEVA – In response to increased demand for its taste solutions and to keep up with its industry-leading growth rate, FONA International will begin a significant expansion of operations at its headquarters in Geneva, the company announced in a news release.
Construction and expansion is already underway at the family-owned creator and manufacturer of taste solutions.
The work, led by Schramm Construction, will feature an expansion of proprietary taste technology, the addition of several high-capacity spray dryers, and the hiring of several new production personnel, the release stated.
Read the full article from Kane County Chronicle here
One of the biggest challenges of an industry entrepreneur is navigating the world of food investors, and appealing to the right one(s). During our lively panel discussionentitled, “What are food investors really looking for?”our panelists offered some great advice, from carefully assessing risk, to proper brand management.We were able to chat with a panel of food experts to help us better understand these ideas.
Our panel included Lenny Lebovich, founder and CEO ofPRE brands, Steve Gaither advisor ofSpiral Sun Ventures, Jason Starr, managing director ofCompany Firstand Michael Schopin, partner ofZenfinity Capital. Our panel moderator for the evening was Randy Bridgeman of our co-host, Perkins Coie.
Amazon is opening two more of its cashier-less convenience stores in Chicago — including one that opened Monday.
Amazon Go, which sells grab-and-go food items in a store designed to let busy shoppers skip the checkout line, opened its first Chicago location in the Loop last month. It was the Seattle company’s fourth Amazon Go store and the first outside its hometown.
A second Chicago location opened Monday at 144 S. Clark St. The 1,200-square-foot store will be open from 6 a.m. to 9 p.m. on weekdays. A third Chicago store will open soon in a 1,700-square-foot space in 500 W. Madison St., which is connected to Ogilvie Transportation Center, said Dilip Kumar, vice president of technology for Amazon Go and Amazon Books.
Read the full article on Chicago Tribune here
In a week of major changes, Dunkin’ Donuts confirmed it’s dropping the ‘Donuts’ from its name, launches its first canned RTD beverage and announces a limited edition coffee beer in collaboration with Harpoon Brewery.
Read this full article on Beverage Daily here
Read the full article here
PepsiCo CEO Indra Nooyi steps down today after a 24-year career with the company.
Born in India, the 62-year-old was one of a handful of people of color to run an S&P 500 company. During her 12-year tenure as chief executive, Nooyi transformed PepsiCo into one of the most successful food and beverage companies worldwide. Her push for healthier snack and beverage choices, along with an eye for product packaging, led to an 80 percent sales growth in the 12 years she was CEO.
Nooyi will remain as chairwoman of the board of directors until early 2019. As Nooyi readies for her next phase, here are the traits and habits she used to help steer her career.
As a child in India, Nooyi and her sister were asked to play an unusual game. Each night at dinner, their mother asked her daughters to imagine what they'd do if they were the prime minister, the president or some other world leader. By the end of the dinner, the girls presented a speech and their mother decided which speech won her vote.
Though her mother instilled many traditional values in her daughters, she also encouraged them to be whoever they wanted to be. "She gave us that confidence," Nooyi said.
Article by FamilyFarmed
TeaSquares, a 2017 graduate of FamilyFarmed's Good Food Accelerator, is one of four companies accepted into the Chobani Incubator's intensive fall program. This is the latest achievement by the highly regarded company, located in Englewood on Chicago's South Side, which produces delicious energy snacks with a caffeine boost from tea, and pursues a social mission of teaching business skills to youths from underserved communities. Read more from Chicago Business Journal.
Chobani Incubator provides selected entrepreneurs, who are "taking on broken food systems to bring better food to more people," with a $25,000 no-strings-attached grant, mentoring, networking, and travel and lodging to attend Incubator sessions in New York and Idaho. Congratulations to Jordan Buckner, Isaac Lozano and the rest of the Tea Squares team.
Sally Grimes is the president of our member Tyson Foods and Prepared Foods.
Grimes oversees more than a quarter of the company’s $38 billion in revenue and is helping to create a new corporate brand identity for the meat multinational.
The above mention was found on Fortune.com (link: http://fortune.com/2018/09/24/most-powerful-women-on-our-radar-2018/?xid=gn_editorspicks)
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