Member News & Headlines Blog

A Chicago startup developing a new way to grow edible protein has raised a large round of funding from top investors, including Bill Gates.

Sustainable Bioproducts, a Chicago biotech startup making a fermentation process to produce lab-grown protein, announced Monday that it has raised $33 million in Series A funding. The round was led by Silicon Valley venture firm 1955 Capital. Also backing the startup is Breakthrough Energy Ventures, a $1 billion fund led by Bill Gates that aims to invest in companies that are combating climate change. Breakthrough’s other investors include Jeff Bezos, Michael Bloomberg and Richard Branson.

Other backers in Sustainable Bioproducts’ round include ADM Ventures, the venture arm of Archer Daniels Midland; Danone Manifesto Ventures, the venture arm of yogurt company Danone; Lauder Partners; and the Liebelson family office.

Read full article from Chicago Inno here

A percentage of sales from Spinning Wheel Brands' Mozaics chips funds scholarships at Chicago Mosaic School

Article by Crain's Chicago Business

By the end of this year, a line of snack chips called Mozaics is expected to generate enough sales to fund scholarships for 16 students at Chicago Mosaic School, the only professional mosaic school in the country. It's based in Edgewater, as is Spinning Wheel Brands, the creator of Mozaics. Eventually a portion of sales from all Spinning Wheel brands will benefit nonprofits, says Julia Stamberger, the company's CEO and co-founder.

Mozaics, which come in five varieties, has bits of vegetables embedded in each chip, making them look like tiny mosaics. And Anne Curley, the late wife of Spinning Wheel co-founder James Curley, was a mosaic artist; those two facts made the school a natural recipient of the chip brand's fundraising. The chips are available at Hudson newsstands, Target, Freshii fast-casual restaurants and other locations. The 3.5-ounce bag sells for $3.99. By the end of this year, Stamberger expects sales of $5 million; a donation of 0.5 percent (about 2 cents a bag) will fund introductory classes and materials for 16 Chicago Mosaic School students. 

Up next: Finding appropriate nonprofit partners for Spinning Wheel's other brands, all of which are focused on nutrition and taste and are gluten-free, and where possible, vegan and kosher, Stamberger says. Those brands include Hope & Sesame, a line of sesame-seed-based milks that will launch this quarter; Handfulls, which are nut-based snacks and trail mixes; and Copious Brands, a line of individual-portion packed shelf-stable hummus, olives and other Mediterranean-influenced snacks.

Stamberger and her co-founders launched Spinning Wheel in 2016, bootstrapping the startup and then assembling a team of investors, most of whom are Chicago-based.

(Bloomberg)—Scott Shellady, known in the trading pits of Chicago for his trademark “cow jacket,” isn’t going to let a historic blast of Arctic freeze on Wednesday keep him away from the options pits at the world’s largest derivatives exchange, even though many of the city’s workers are planning to hunker down at home.

“I come from a family of farmers,” said Shellady, who commutes into the city from northwest Indiana. “And there’s a word in English that describes the weather we’re having. Winter.”

That may be a bit of Midwest meteorological bluster. The brutally cold weather is expected to make temperatures warmer above the Arctic Circle than in Chicago. It’ll be 21 degrees below zero Fahrenheit in the Windy City on Wednesday and minus-24 on Thursday, according to forecasts. The city’s all-time record low is minus-27, set in 1985.

Read the full article on Crain's Chicago Business here

Scott Shellady, known in the trading pits of Chicago for his trademark “cow jacket,” isn’t going to let a historic blast of Arctic freeze on Wednesday keep him away from the options pits at the world’s largest derivatives exchange, even though many of the city’s workers are planning to hunker down at home.

“I come from a family of farmers,” said Shellady, who commutes into the city from northwest Indiana. “And there’s a word in English that describes the weather we’re having. Winter.”

Read the full article from Bloomberg here.

At last week's Industry Insights 2019 event, Technomic rounded up some top trends for the year regarding restaurant menus, service strategies and best practices. Explore the seven trends Technomic experts predict will have a lasting impact in these areas in 2019 - a key take-away from the night!

Beyond this, the night's keynote speaker, Joe Pawlak, and a panel of Technomic experts, examined the question, "What’s taking place worldwide?"  Are there similarities around the globe? Take a look at four global trends for restaurants predicted for 2019.  From plant-based menu items to empowered packaging, see what’s ahead for foodservice on a global scale.

The night rounded out with happy hour cocktails and bites at the downstairs bar - and some great networking with a well represented Technomic team!

Technomic has shared the evening's presentation for attendees and CFBN members - it is posted in the Member Perks area (under Meeting Resources)!

Thank you again to our host, Technomic, for their insight and support for the night!  Technomic’s services encompass cloud-based B2B research tools, and consumer and menu trend tracking, as well as other leading strategic research and analytic capabilities, to prioritize and size business opportunities. From general industry overviews to specific predictions, Technomic has the data and guidance you need to make informed decisions to support business growth. Visit technomic.com for more information or contact us today at info@technomic.com or 312.506.4060.

Thank you again to everyone who joined us for this event!  We are looking forward to seeing you at more great events this calendar!

2018. A tremendous year for the Chicagoland Food & Beverage Network! The growth of our organization, the many people we connected, and the education we shared was far beyond what we could imagine...

This growth could not happen without our CFBN partners and members. Because of you we are building up amazing connections within Chicagoland’s food and beverage industry. We look forward to utilizing these 2018 experiences as momentum for 2019. 

Some key moments from 2018...

Q1 (January, February, March 2018)

Kicking off the first three months of 2018 with informative panel discussions. Our first event focused on remaining relevant in a digital grocery environment.” More than 100 people attended this event -- covered by Food Navigator.

Our industry leadership series continued with managing employment expectations for CPGs and start-ups. All event attendees discussed the ins and outs of these topics with our esteemed panel of experts. Thank you for the expert insights: Simple Mills, Kinsa Group and Enjoy Life Foods.

 

Q2 (April, May, June 2018)

One of our more unforgettable Innovation Breakfast this quarter was with member Tyson Foods  -- it sold out in less than 10 days! Tyson’s chief sustainability officer Justin Whitmore and guest speaker Derk Hendriksen from Coca Cola discussed strategy, sustainability and operationalizing big ideas. More than 150 people attended this event -- covered by Food Navigator.

  

 

Q3 (July, August, September, 2018)

In August, our unique rooftop event at the beautiful Roof Crop garden in West Loop Chicago shared a trues farm-to-table experience with fresh ingredients harvested straight from local farms. Speaker, Kathy Nyquist of New Venture Advisors briefed the large group on the importance of farm-to-table ingredients and local agriculture’s long-term effects on our ecosystem and economy.

Q4 (October, November, December, 2018)

Wrapping up the year with a bang, we presented our very first Innovation “Bar-fest” at the gorgeous Mitz. Speakers included local masterminds behind our region’s growing spirits industry -- of course, it was also refreshing to taste their innovative, craft cocktails. In December, we greeted the end of the year with a delicious networking event at Latinicity (welcoming over 140 members and guests). What a way to end the year!

CFBN is growing and flourishing -- and in such a short amount of time. Entering 2019, we’re excited to continue growing and evolving this organization. We look forward to hosting more exciting events, bringing more value to our members, and growing and connecting the network. Join us at any of our upcoming events: https://chicagolandfood.org/events

 

 

Mars Wrigley, the closely held company best known for treats like M&M’s and Snickers bars, looks to double the size of the business over the next 10 years as it expands deeper into pet care and non-confectionery nutrition.

Read full article here

Chief Executive Officer Grant Reid announced the goal in an interview with Bloomberg Businessweek, offering a rare peek into the ambitions of a family-owned company that isn’t required to disclose its financial data. Such an increase could push sales at the 107-year-old company beyond $70 billion, up from about $35 billion now, and it plans to do so without going public. That would make its sales about as big as Target Corp. or Procter & Gamble Co. are today.

Our member Amped Kitchens is looking for 20 companies who are interested in receiving assistance with shared kitchen space. These companies will be of the first 50 companies on their priority wait list. The interest form is here: https://www.ampedkitchens.com/more-info/

Amped Kitchens has signed letters from groups as diverse as Gaslight Coffee Roasters, Pleasant House Pies and Rumi Spice. Click here to fill out an interest form today. 

Alan Reed shares insight on small business strategies in the Food & Beverage Industry with Business First for their "Start Me Up" segment. Click here to be navigated to the YouTube clip. 

Mondelez International, maker of Oreo, Ritz, Triscuits and other brands, plans to move its global headquarters from Deerfield to Chicago’s booming Fulton Market neighborhood.

Read the full article here

The snack maker will move 400 employees into a five-story office building under construction at 905 W. Fulton Market, in the heart of what was once the city’s meatpacking district. The company, which said it signed a 15-year lease, will relocate employees in April 2020, joining the parade of corporate food giants abandoning the suburbs for the city.