Specialty Food Magazine

FALL 2018

Specialty Food Magazine is the leading publication for retailers, manufacturers and foodservice professionals in the specialty food trade. It provides news, trends and business-building insights that help readers keep their businesses competitive.

Issue link: https://specialtyfoodmagazine.epubxp.com/i/1017167

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Page 76 of 91

specialty food maker mergers & acquisitions A roundup of consolidations impacting the specialty food world. B&G FOODS BUYS IRISH OATMEAL BRAND B&G Foods has acquired the McCann's Irish oatmeal brand from TreeHouse Foods for $32 million. McCann's portfolio includes tradi- tional steel cut Irish oatmeal and convenience-oriented products, which are offered across the U.S. and Canada. B&G says this purchase complements its portfolio, which includes brands such as Cream of Wheat and Green Giant. The company notes that adding McCann's under- scores its focus on acquiring better-for-you brands that resonate with today's consumer. Creameries Merge, Form Mosaic Meadows La Clare Family Creamery has merged with Saxon Creamery and Lamanga Cheese Company to form Mosaic Meadows, a fam- ily of company-owned cheesemakers. Mosaic has a national sales force as well as a coast- to-coast broker-and-distribution network. Through the merger, each company will be able to expand its artisanal product lines, while sharing resources in marketing, services, and sales capabilities. Saxon had ties to La Clare prior to the merger, as both Wisconsin-based creameries began making cheese at Saxon Creamery the same week. La Clare then built its own creamery. While Saxon and La Clare reach Midwest and Western markets, Lamanga offers connections to the East Coast, providing the opportunity to expand sales and offer new products. J.M. SMUCKER PARTNERS WITH REV1 VENTURES The J.M. Smucker Co. has partnered with Rev1 Ventures, an investor startup studio, to identify and connect Smucker with new technologies and startups in the food industry. It will focus on several areas including ingredient and process technology, snacking, commodity, and supply chain. "The partnership with Rev1 Ventures is a strategic decision to align more closely with the best and brightest inno- vators and technologies that are helping industries like ours think outside of the box," said Tina Floyd, senior vice president and general manager, consumer foods, at The J.M. Smucker Co. "By tapping into Rev1's extensive network of entrepreneurs, we can gain access to and more easily adopt technologies for our operations and products, while also driving startup success in our backyard." Molson Coors Acquires Kombucha Company Molson Coors has acquired Clearly Kombucha. The company joins Molson Coors' U.S. business, MillerCoors, as part of its craft and specialty unit, Tenth and Blake. Founders Ali Zarrow and Caleb Cargle will stay with the company after the deal closes. Tenth and Blake President Pete Marino notes that the kombucha category is in its early stages, adding "Molson Coors, MillerCoors, and Tenth and Blake are ideally suited to help Clearly Kombucha grow in the years ahead by driving greater awareness, strengthening its brand reputation, and boosting retail availability." In an effort to counteract its falling beer sales, Molson Coors has begun looking for potential investments in other categories, including non-alcoholic drinks that won't compete with its main products. This is the company's latest invest- ment in non-alcoholic beverages after it took a minority stake in ready-to-drink chai tea Bhakti in 2017. 74 ❘ SPECIALTY FOOD MAGAZINE specialtyfood.com

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