Peatos gets an investment from Post Cereals16 Feb 2021
Post Holdings Inc. led a $12.5 million Series B funding round for better-for-you snacking brand Peatos. The growing snack band says it will use the funds to continue its mission to give Americans better-for-you “junk food” options by adding nutrient-dense peas to the traditional corn base and replacing the artificial colors and flavors with more natural ingredients.
Additionally, the brand says it has twice the protein and three times the amount of fiber of traditional corn-based snacks. While no other investors were named in the most current funding frenzy, Peatos is clearly attracting widespread attention as this investment further lines the startup's coffers, building on a $7 million Series A funding round from September.
Already the brand is in 4,700 grocery locations, and the brand further increased its reach during the pandemic with the rollout of its own direct-to-consumer website that features both a subscription option and a loyalty program. With its new funding, the brand hopes to increase its contact with consumers further, both through its increased physical presence as well as its loud and flippant brand voice.
Since Peatos came onto the scene, the brand has unmistakably targeted traditional Frito-Lay snack brands Cheetos and Doritos. However, the similarity in names has never been enough for Peatos, which openly taunts Frito-Lay in what Peatos calls a “David v Goliath battle.” Despite several public confrontations between the two companies, the brand continues to be attractive to investors, some of which have even been former executives of Frito-Lay.
Post is the most recent company to express financial interest in Peatos, and by leading this investment round, Post Holdings now has a significant stake in a company that has experienced double-digit revenue growth over the last year. As consumers have continually balanced a growing desire for indulgent treats with an ongoing concern to choose products that are better-for-you, Post believes that Peatos is the answer to that conundrum.
“We believe it has a bright future and we can learn a lot from their entrepreneurial culture and gain an understanding of the fast growing snacking space,” Howard Friedman, president of Post Consumer Brands said in a statement.
In the most recent earnings call from Post, the company said it will be “more aggressive” with future M&A activities. Already, the company is making good on its promise. In January, it struck a deal with plant-based meat startup Hungry Planet to distribute its products in retail and foodservice. This move builds on the company’s decision last May to distribute Just Egg's mung bean-based egg substitute to restaurants and foodservice locations nationwide.
Aleph Farms cultivates ribeye steak with 3D-Bioprinter
12 Feb 2021
Aleph Farms, the Israeli cultivated meat company, announced that it printed a ribeye steak using three-dimensional bioprinting technology. The slaughter-free steak is a follow-up to Aleph’s first attempt to print meat in 2018, when it revealed that it ...Read more
Plant-based sales in Gulf countries are small but promising
5 Feb 2021
Several new product launches and a high-profile vegan prince are creating a buzz around plant-based eating in the Gulf region.Read more
Kind Snacks founder invests in egg white chips brand Quevos
3 Feb 2021
Kind Snacks founder Daniel Lubetzky announced via the popular show Shark Tank that he is making an investment through his family office Equilibra in the egg white-based chips company Quevos. The deal is reportedly for a $200,000 investment as well as a...Read more
GEA join Better Juice to disrupt the global juice industry
2 Feb 2021
Better Juice, Ltd., the sugar-reduction FoodTech start-up, has signed a joint venture with GEA Group AG, a world leader in process engineering for the food and beverage sectors, in a push to expand its global footprint. This move comes as part of Bette...Read more
Pandemic drives an increase in meat consumption across UK
2 Feb 2021
After years of growth, the movement of consumers away from meat has slowed in the UK, according to new data from Mintel. Over the course of 2020, the percentage of Brits reducing their meat consumption dropped from 51% in 2019 to only 41% in 2020.Read more
SweeGen expands its stevia portfolio with new Reb N
28 Jan 2021
Stevia manufacturer SweeGen commercialized its newest steviol glycoside Bestevia Reb N. The company says the zero-calorie sweetener has a “unique sensory profile” that makes it especially attractive for beverage applications, which is an application sp...Read more
Cultivated fat is a potential popular addition to plant-based products
21 Jan 2021
Cultivated fat might be the next ingredient to melt the hearts of fans of plant-based products, with two-thirds of plant-based meat companies interested in incorporating the ingredient into their recipes, according to a survey Peace of Meat.Read more
Dry January is soberingly popular in 2021
19 Jan 2021
Dry January, a month where people commit to going alcohol-free, is setting the stage to be record breaking in 2021. Almost double the number of people (6.5 million up from 3.9 million in 2020) are anticipated to participate this month, according to dat...Read more
Kraft and Mondelez brands are moving toward gluten-free
14 Dec 2020
Kraft Heinz and Mondelez are expanding further into the gluten-free space with the release of gluten-free Kraft Macaroni & Cheese and gluten-free Oreos respectively. Kraft Heinz’s mac and cheese is now available, but Mondelez will not launch its new Or...Read more
Despite warnings, aspartame remains an authorized additive in the UK
2 Dec 2020
When the UK exits the European Union come the new year, there will not be any change to the list of authorized food additives. This post-transition list will continue to permit aspartame as a food additive despite studies suggesting that its consumptio...Read more
Are you a supplier?
Here's what we can do for you
- Generate quality leads for your business
- Stay visible for 365 days of the year
- Receive product inquiries and respond to meeting requests directly
- Improve company online presence through Search Engine Optimisation