Last week in industry news, Nestlé backed the EU’s plans to increase supply chain transparency and traceability in a bid to tackle deforestation. Ingredion released its 2020 sustainability report, and Olam Food Ingredients completed its acquisition of US private-label spices and seasonings manufacturer Olde Thompson. In plant-based highlights, US-based pioneer in plant-based chicken Daring raised US$40 million in Series B round led by D1 Capital Partners and global entertainer Drake. Meanwhile, Tokyo-based alternative meat venture Next Meats revealed a collaboration with IKEA Japan for sustainable food.
In brief: Sustainability
Nestlé joined other business leaders across the food industry to support action by the EU to increase supply chain transparency and traceability for commodities that may be linked to deforestation. All the signatories call on the EU to put in place measures to scale up the use of innovative technologies to improve supply chain traceability and cooperation with producing countries to ensure that forests are protected and restored. As of last December over 90 percent of the key commodities that Nestlé buys were assessed as deforestation-free through a combination of tools, including supply chain mapping and disclosure, on-the-ground verification and satellite monitoring.
ADM and the University of Illinois have completed the Illinois Basin – Decatur Project (IBDP), a carbon capture and storage (CCS) project designed to evaluate and test the technology at a commercial scale. The first-of-its-kind project was primarily funded through the Midwest Geological Sequestration Consortium (MGSC) by the US Department of Energy – National Energy Technology Laboratory.
In the same week, and for the second consecutive year, 3BL Media has named ADM to its annual 100 Best Corporate Citizens ranking, recognizing outstanding environmental, social and governance transparency and performance among the 1,000 largest US public companies.
Ingredion has released its All Life sustainability report, highlighting its progress and accomplishments toward its established 2030 global sustainability goals. The report outlines the company’s transparent sustainability agenda toward people and planet safety, human rights, innovation, environmental impact, biodiversity protection, sustainable and regenerative agriculture, food security and community impact.
Viterra and the Foodgrains Bank are celebrating their sixth year of partnership, for ending global hunger through Canadian Foodgrains Bank. Across Alberta and Saskatchewan, just over 300 acres are being farmed this year. Some projects operate as traditional growing projects, while others are farmed by nearby individual farmers taking on a few extra acres as part of their own. When the crops are harvested, the proceeds from the sale are donated to the Foodgrains Bank and used to fund hunger response projects worldwide.
In brief: Partnerships & acquisitions
DKSH Performance Materials’ Business Line Food & Beverage Ingredients has partnered with Naturis, a company specialized in tailor-made ingredients of plant-based origin. Under the agreement, DKSH will be responsible for the sales and logistics and distribution of Naturis products, including rice, cereals and pulses, for use in multiple food applications in Switzerland.
Olam Food Ingredients has revealed that the acquisition of leading US private-label spices and seasonings manufacturer Olde Thompson, previously announced on April 29, was completed on May 17 at an estimated value of US$950 million.
Univar has reached an expanded agreement with Ingredion as its exclusive distributor of PureCircle’s portfolio of plant-based stevia products in select countries across Europe. PureCircle’s range of sweeteners and flavors enhances Univar Solutions’ portfolio of specialty food ingredients used in beverages, dairy and dairy alternatives, and sports nutrition and savory applications.
In brief: Plant-based highlights
A year after Daring’s US launch, the plant-based chicken pioneer has announced a US$40 million Series B funding round led by D1 Capital Partners. Global entertainer Drake has also joined the round, along with existing investors Maveron and Palm Tree Crew, to support Daring’s position in the plant-based industry. Daring will use this round of funding to triple its internal team by the end of 2021, scale its rapid retail and foodservice growth, and set the stage for future innovation and product development.
Tokyo-based alternative meat venture Next Meats is collaborating with IKEA Japan for IKEA Japan’s Sustainable Food Fair starting this week in select stores. During the fair, customers can try
IKEA’s plant-based curry topped with Next Meats’ signature plant-based beef, Next Gyudon. The Next Gyudon is the world’s first plant-based substitute of the Japanese “beef bowl,” a staple dish in the country, with many restaurants serving only that. However, unlike the common beef bowl, the Next Gyudon is made from soy without artificial additives. From sourcing sustainable materials to reducing plastic waste, IKEA Japan is also on board with the company mission to make at least half of their food menus in the restaurant plant-based by 2025.
In brief: Appointments
The Rainforest Alliance has revealed that Santiago Gowland has joined the organization as CEO. Gowland previously served as executive vice president for Latin America and Global Innovation at The Nature Conservancy. Before that, he spearheaded sustainability initiatives in the private sector, including at Unilever and Nike.
Plant-based meat company HERO Protein has announced that Vicky Lee, former CMO of McDonald’s Taiwan and former group vice president at significant restaurant brand Xiabu Xiabu, has joined as CEO to help accelerate the company’s growth. HERO Protein’s plant-based chicken and beef products launched on the market in January and have already landed at a range of top restaurants and corporate and school dining facilities in Shanghai, China.
In brief: Other highlights
The lockdowns of 2020 in many developed markets gave rise to couch commerce and increased engagement for food delivery services such as Uber Eats. As a result, Uber Eats experienced a positive spike in many metrics, including an estimated 152 percent year-on-year increase in revenue. For the year 2020, it is estimated that Uber Eats generated US$4.8 billion in revenue compared to US$1.9 billion in 2019. Uber Eats also more than doubled its gross bookings in 2020, which amounted to US$30.2 billion compared to US$14.5 billion in 2019. As of March 2021, Uber Eats holds the second-highest share of the online food delivery market in the US at 22 percent.
Paramount Software Solutions has unveiled its latest product, Farm to Plate. The blockchain platform is designed for the food supply industry and will enhance and extend data sharing transparency from the point of origin to the consumer. Farm to Plate aims to elevate supply chain resistance and support food safety compliance, ultimately strengthening brand trust. Trace and track systems have previously disclosed information beginning at the distributors who package products to travel around the US. The Farm to Plate platform extends that model back further, starting with the farmer, to create a completely transparent view of the entire supply chain.
