Specialty Food Magazine

Spring 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/950112

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Page 69 of 91

Square Acquires Restaurant Delivery Platform Square has acquired Entrees On-Trays, a restaurant delivery platform. The company plans to use the acquisition to expand the footprint of Square's on- demand food delivery service Caviar in the Dallas- Forth Worth, Texas, area. The deal will also help to take advantage of partnerships Entrees On-Trays has with local restaurants. Moving forward, Caviar wants to continue growing its existing markets and launching pop-ups across the country. Sara Kay is the content and education specialist for the Specialty Food Association. BACARDI INKS DEAL FOR FULL OWNERSHIP OF PATRON Bacardi Ltd. has agreed to acquire 100 per- cent of Patron Spirits International AG and its Patron brand of ultra-premium tequila. The deal follows a relationship the compa- nies have had since 2008 when Bacardi ini- tially acquired a minority stake in Patron. The transaction values Patron at $5.1 billion and will make Bacardi the No. 1 spirits company in the super-premium segment in the U.S. Bacardi plans to expand the brand outside the U.S. through its international distribution network, as well as increase scale in the U.S. and globally. Patron's leadership team will remain in place. TYSON INVESTS IN LAB-MADE MEAT STARTUP Tyson Food Inc. has made a minor- ity investment in food tech startup Memphis Meats, a cultured meat producer. Memphis Meats expects to use the funds to accelerate prod- uct development. It is looking to expand its team of chefs, scientists, creative people, and business peo- ple. Other investors in the company include DFJ, Atomico, Cargill, Bill Gates, and Richard Branson. The investment represents Tyson's com- mitment to creating new ways of meeting growing global demand for protein, according to the company. CARGILL INVESTS IN PEA PROTEIN COMPANY Cargill has invested in Puris, the largest North American producer of pea protein. The joint ven- ture will allow Puris to build a second plant to accelerate the roll-out of new products to meet increased consumer demand for pea protein. With the investment, Puris will expand its global operations, while also maintaining its focus on U.S. production. Puris creates a variety of plant-based foods and ingredients from U.S.-based organic and non-GMO sources. Evolve Brands Buys Two Healthy Snack Brands Evolve Brands has acquired Gorilly Goods and Supernola healthy snack brands. Gorilly, which is based in Jackson, Wis., produces six organic, raw, on-the-go snacks that are sold at regional and independent retailers in the U.S. and Canada. Supernola is based in Harrisburg, Pa., and produces a line of Certified Paleo snacks. Evolve plans to consolidate operations for both brands at the Gorilly manufacturing site in Jackson and market them to healthy snacking consumers. article bug SPRING 2018 67

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