In NPD news this week, Boost and Cinnabon partnered to create Boost High Protein Cinnabon while the Smart Baking Company launched the chocolate chip protein Smartcookie. Meanwhile, Mikuna Foods closed a US$5.6 million seed round to scale the production of its chocho protein product and Komo Plant Based Foods expanded to western Whole Foods Market locations.
In brief: NPD
Boost and Cinnabon partnered to introduce the Boost High Protein Cinnabon-flavored nutritional drink. Each drink provides 20 g of protein for muscle health; 250 nutrient-rich calories with B-vitamins for energy; vitamins C, D, zinc, iron and selenium for immune support; calcium and vitamin D for bone health; and 27 vitamins for daily nutritional needs.
The Smart Baking Company launched the Smartcookie, a soft chocolate chip protein cookie that taps into nostalgic flavor without sugar, gluten or starch. The cookie contains the daily recommended value of vitamin C. It is exclusively on the company’s website and Amazon. The Smartcookie is part of the company’s healthy baked goods lineup including Smartcakes, a healthy snack cake, Smartbuns, a gluten-free sandwich bun and Smartmuf’ns, a muffin-top-like grab-and-go breakfast option.
ZOA Energy expanded its energy drink line with the launch of 341 g cans designed for portable consumption. The new 341 g formula touts 120 mg of natural caffeine from green tea extract and green coffee. ZOA is formulated to bolster healthy immunity and concentration while supplementing amino intake and boosting energy levels. The brand will reach additional consumer demographics through new distribution in Target and Costco stores with this release.
Florida Food Products, a formulator and producer of vegetable and fruit-based clean label ingredient solutions launched a collection of cocoa flavors during the 75th Annual Professional Manufacturing Confectioners Association in Lancaster, Pennsylvania. The collection consists of white chocolate, dark bitter, Belgian, cocoa berry, coffee and Mayan cocoa flavors. The flavors are available in liquid, non-GMO, allergen-free and water-soluble versions. Confectioners and food manufacturers can use them in chocolates and confections; baked goods; nutritional products; syrups and sauces; non-alcoholic and alcoholic beverages; dairy products and plant-based applications.
In brief: Business moves
Mikuna Foods closed a US$5.6 million seed round which will be used to expedite the company’s efforts to scale production capacity and launch their products nationally in the next year. Mikuna is the first company to introduce Chocho – a clean protein from a novel superfood crop sourced in the Andes Mountains – to the US market. The round was led by a collective of international athletes, stakeholders and investor-advisors in the wellness, food, sustainability, music and culture sectors.
The Smartcookie contains the daily recommended value of vitamin C.
Komo Plant Based Foods has expanded to four out of seven western US, Whole Foods Market locations. Komo can now be found on the shelves at Whole Foods Cambie, North Burnaby, Victoria and North Vancouver. Komo scaled up its production capacity through a co-manufacturing arrangement in 2021 for nationwide expansion. Whole Foods Market has more than 500 retail and non-retail locations in the US, Canada and the UK.
In brief: Appointments
The Heineken Africa Foundation appointed Bilikiss Adebiyi-Abiola as chair of its board of trustees. Adebiyi-Abiola has a track record in waste management and recycling and 14 years of experience in social entrepreneurship, public sector leadership and software development. She also co-founded and was the CEO of Wecyclers Corporation, a recycling company in Nigeria serving densely populated urban neighborhoods.
In brief: Financial report
BASF released preliminary figures for the first quarter of 2022. Sales increased by 19% from €19 billion (US$21 billion) the previous year to €23 billion (US$25 billion). This was mainly driven by higher prices; currency effects relating to the dollar. The BASF Group’s operating business performed better than in the first quarter of 2021. In the first quarter of 2022, Earnings Before Interests and Taxes (EBIT) before special items amounted to an expected €3 billion (US$3.27 billion), an increase of 21% compared with the prior-year quarter. The net income expected to be €1,2 billion (US$1.3 billion) was considerably below the prior-year quarter €2 billion (US$2.2 billion).
