Yuengling, Molson Coors for joint venture to expand geographic footprint of Yuengling beers
D.G. Yuengling & Son Inc. and Molson Coors Beverage Co. announced a long-term brewing partnership that will bring Yuengling’s beer to millions more consumers outside its East Coast footprint. The joint venture between Yuengling and Molson Coors will oversee any new market expansion beyond the 191-year-old brewer’s existing 22 state footprint plus any future New England expansion. The partnership is expected to begin in the second half of 2021 and will be governed by a board of directors, consisting evenly of Yuengling and Molson Coors family members and executives. D.G. Yuengling & Son remains a family-owned business and the existing company will operate separately from the joint venture with Molson Coors.
“We are excited to launch this brewing partnership with the team at Molson Coors. Like Yuengling, Molson Coors has an established commitment to quality and rich history of family brewing excellence,” said Wendy Yuengling, Chief Administrative Officer and 6th generation family member, D.G. Yuengling & Son, Inc. “This partnership is a great opportunity for us to grow our distribution footprint for the long-term, while continuing to support our existing markets and the communities in which we operate.”
$435M invested in fermentation as next pillar of alternative proteins
A new report from the Good Food Institute labels fermentation the third pillar of alternative proteins next to lab-cultured meat and plant-based proteins. In 2020 fermentation-based protein companies raised $435 million of the massive $1.5 billion invested into the alternative protein sector. According to the report, a high percentage of these fermentation companies are B2B that will develop the necessary components for cell culture as well as ingredients for plant-based products.
General Mills launches :ratio portfolio of keto products
General Mills recently launched :ratio—a new keto-friendly product line that marks the company’s first keto-focused product. The product portfolio features yogurt cultured dairy snacks and crunchy bars that deliver on protein, rich flavor, texture and convenience.
All :ratio’s snacks are gluten-free, contain 2g of net carbs and 1 g of sugar per serving. Its snack bars contain more than 50% almonds and seeds, 12 g of protein and are available in two varieties: Toasted Almond and Lemon Almond. The dairy snacks are available in five fruit-forward flavor options: Strawberry, Coconut, Vanilla, Mango, and Black Cherry.
Kraft Heinz to sell natural cheese business to Groupe Lactalis
The Kraft Heinz Co. has entered into a definitive agreement to sell its Natural, Grated, Cultured and Specialty cheese businesses to a U.S. affiliate of Groupe Lactalis for US$3.2 billion. The deal is expected to close in the first half of 2021, subject to regulatory review and approval.
The transaction includes Kraft Heinz’s Natural, Grated, Cultured and Specialty cheese businesses in the U.S., Grated cheese business in Canada, and the entire International Cheese business outside these two countries, including the following brands: Breakstone’s, Knudsen, Polly-O, Athenos, Hoffman’s, Cracker Barrelin the U.S. only, and outside the U.S. and Canada only, Cheez Whiz. In addition, Kraft Heinz will partner with Groupe Lactalis on a perpetual license for Kraftin Natural, Grated and International cheeses and Velveeta in Shredded and International cheeses. Kraft Heinz will retain the Philadelphia Cream Cheese, Kraft Singles, Velveeta Processed Cheese and Cheez Whiz Processed Cheese businesses in the U.S. and Canada, the Kraft, Velveeta and Cracker Barrel Mac & Cheese businesses worldwide, and the Kraft Sauces business worldwide.
Under the terms of the agreement, Kraft Heinz will sell production facilities located in Tulare, California; Walton, New York; and Wausau, Wisconsin; and a distribution center in Weyauwega, Wisconsin. The facilities and their employees will continue to operate in ordinary course. Approximately 750 employees will be transferred from Kraft Heinz to Groupe Lactalis.
American Sustainable Business Council, Social Venture Circle announce alliance
The American Sustainable Business Council (ASBC) and the Social Venture Circle (SVC) formed a strategic alliance to create the nation’s leading socially responsible business group and unite top U.S. entrepreneurs and the leaders of mission-driven companies in common cause while amplifying and extending the collective voice of the sustainable business community in previously impossible ways.
The resulting collaboration will be a new force for environmental change and economic justice at the federal, state and local levels, one that rejects short-term thinking narrowly focused on short-term shareholder value in favor of a stakeholder economy based on creating long-term worth and universal accountability. Existing memberships in both organizations will be converted to a new membership in the combined group. In 2021, a set of new membership guidelines will be rolled out for all members. This new structure will mirror current parameters while adding additional benefits.