PepsiCo has announced the launch of its second PepsiCo Greenhouse program in North America, an initiative designed to support emerging entrepreneurs and brands in the food and beverage industry. The 2020 program seeks to collaborate with purpose-driven brands at the forefront of transformative trends that are changing the way consumers eat and drink.
Issuing an open call through Jan. 6, 2020, PepsiCo is seeking 10 startups based in the United States or Canada whose businesses or brands integrate purpose into their offering, meeting the needs of current and future consumers, communities, and/or our planet. The selected startups are granted $20,000 in funding and will participate in a six-month business optimization program designed to accelerate growth. The program includes personalized mentorship with experts across PepsiCo functions and from some of its emerging brands, such as Stacy’s, IMAG!NE, and KeVita, to help address critical early-stage business operations like strategic planning, corporate structuring, and fundraising. Guidance on brand optimization, product development, supply chain management, customer acquisition, and distribution will also be provided.
At the end of the program, one startup will be awarded an additional $100,000 in funding to continue its expansion, and an opportunity to continue partnering with PepsiCo to further their growth.
“As part of our vision to be the ‘Global Leader in Convenient Foods and Beverages by Winning with Purpose,’ we are integrating purpose into the core of our business and our brands,” said Jim Andrew, PepsiCo executive vice president, corporate strategy and chief venturing officer. “Since its inception, the PepsiCo Greenhouse has been a great source of ideation, talent development, and agility, while also providing an opportunity to collaborate with like-minded, mission-driven entrepreneurs as they develop and scale their innovative ideas that look to improve the way we shop and eat, offer new choices to consumers, and solve the needs of our communities.”
Purity Organic, an organic food company based in Oakland, Calif., has announced the acquisition of Dunn’s River Brands, maker of Sweet Leaf Tea and Tradewinds Beverage Co.
Califia Farms, maker of plant-based milks and ready-to-drink coffee, has raised $225 million from global investors in a series D financing round.
U.S. quick-service restaurant (QSR) chains, which represent the bulk of industry transactions, had four consecutive weeks of transaction increases in the retail month of December and were the primary contributor to the total industry gains in the month, according to The NPD Group.
TreeHouse Foods has announced the dissolution of the previously announced agreement to sell its ready-to-eat (RTE) cereal business to Post Holdings.
Cott has entered into a definitive agreement pursuant to which Cott will acquire Primo Water for $14 per share, a transaction that values Primo at approximately $775 million.