In numbers

US$100m

Singapore start-up Next Gen Foods is taking its faux-chicken Tindle brand to the US after raising what it claims is a record US$100m Series A round for a plant-based meat business.

CHF67m

Nestlé is to spend CHF67m (US$73m) on building a plant-based food production facility in Serbia.

159

Pladis has flagged potential job losses at its factory in the UK city of Manchester as the snacks maker faces increased operational costs.

5%

Russia accounted for around 5% of Danone’s group-wide revenues in 2021. Last year, the Activia and Alpro owner generated EUR24.28bn (US$26.67bn) in net sales.

GBP100m

GrowUp Farms has received GBP100m (US$135.6m) in investor financing to scale up its new vertical farm in south-east England.

2029

MHP is seeking bondholder approval to defer interest payments and avoid a claim on assets as Ukraine’s major poultry processor grapples with disruption from the ongoing conflict.

In brief

US condiments maker Stonewall Kitchen acquired by PE firm TA Associates

Stonewall Kitchen, the US food business, has been sold by Audax Private Equity to fellow investor TA Associates for an undisclosed sum.

Valio to buy Gold&Green plant-based brand from Finnish peer Paulig

Finnish food group Valio is to acquire the plant-based brand Gold&Green from local peer Paulig for an undisclosed sum.

Fermentation start-up Zero Acre Farms on mission to eradicate “destructive” vegetable oils

HiZero Acre Farms is on a mission to remove “destructive” vegetable oils and fats from the food system and has just secured US$37m investment to supports its endeavours in fermentation.

General Mills pumps funds into meat-free start-up Everything Legendary

General Mills has funnelled investment into Everything Legendary, a meat-free start-up eyeing expansion beyond its US home market.

The food industry briefing