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Sophie’s Kitchen, a growing name in the plant-based food industry, announced a $5.6 million investment led by Billy Goat Brands, which is a publicly-listed venture capital platform with a focus on the blue economy. The funding will support the growth of the Sophie’s Kitchen brand and product innovation.
According to a white paper published by the Institute of Food Technologists entitled "Food Research: Call to Action on Funding and Priorities," public spending on foundational research for both agriculture and food in the U.S. has been slowly trending downward since 2006 or so, while private R&D spending has seen a small increase.
Kraft Heinz has launched a new venture capital fund to invest in emerging tech companies that are transforming the food industry. Kraft Heinz has committed up to $100 million to the fund, named Evolv Ventures, and has hired investor Bill Pescatello to lead the fund.
Sara Lee Corp. announced an agreement to sell its fresh bakery businesses in Spain and Portugal to Mexico’s Grupo Bimbo S.A.B. de C.V. for approximately $154 million. The agreement includes all Sara Lee fresh bakery brands in Spain and Portugal as well as seven manufacturing facilities.
