The food industry briefing
The latest news, trends, and data you need to know about this month
In numbers
€40m
UK-based Sykes Seafood is investing €40m over the next two years to establish a pair of new processing plants in Morocco.
€250,000
Italian plant-based foods group Valsoia has acquired Green Food Company, its distributor in Sweden for €250,000
$600m
The newly-formed Dole plc has released the terms of its planned IPO, with the US fresh-produce major looking to raise almost $600m.
$350m
Nature’s Fynd, the US start-up making alternatives to meat and dairy products using microbial fermentation, has closed a Series C funding round worth $350m.
$150m
Pork and turkey processor Prestage Farms is investing $150m in a new plant in South Carolina.
€50m
Confectionery heavyweight Mondelez International is to invest more than €50m to rebuild its biscuit plant at Jussy in France, which was hit by a major fire last September.
In brief
Wicked Foods on the cusp of US entry with new funding in hand
Gourmey, a Paris-based start-up cultivating meat from animal cells, has raised $10m in a seed financing round to scale-up production ahead of its commercial launch.
Europastry invests in Spanish plants in support of new pizza range
Spanish bakery supplier Europastry has invested €15m in its plants, with additional production lines for bread and pizza and more than 200 potential jobs.
Faux-chicken start-up Next Gen raises multi-millions in extended funding round
Singapore alt-meat business Next Gen Foods has raised an additional $20m in an extended seed round taking the total raised to $30m. The company is planning to use the money to launch its Tindle alt-chicken product in the US.
Italian deli-meat firms Rigamonti and Kipre join forces in new US push
Italy-based deli-meat firms Rigamonti Salumificio and Kipre Group have signed an agreement to create commercial synergies abroad with the main focus being the US. Rigamonti said it will invest €200m in the initiative to promote Italian delicatessen products.
Further reading
Investigation: How the Meat Industry is Climate-Washing its Polluting Business Model
Growing global meat consumption threatens to derail the Paris Agreement, but that hasn’t stopped the meat industry from insisting it is part of the solution to climate change.
Read and Listen: DeSmog.com
