Food Tech

Kinzie Capital Partners Announces the Acquisition of Arctic Industries

Retrieved on: 
Tuesday, February 20, 2024

Kinzie Capital Partners LP (“Kinzie”), a Chicago-based private equity firm, announces the acquisition of Arctic Industries (“Arctic” or the “Company”), a national manufacturer and distributor of temperature control and cold storage solutions.

Key Points: 
  • Kinzie Capital Partners LP (“Kinzie”), a Chicago-based private equity firm, announces the acquisition of Arctic Industries (“Arctic” or the “Company”), a national manufacturer and distributor of temperature control and cold storage solutions.
  • “We are excited for the partnership with Kinzie Capital Partners, which will allow us to leverage our strengths to drive further growth and continue to provide the best possible service for our customers,” said Brian Murphy, CEO of Arctic Industries.
  • Suzanne Yoon, Managing Partner of Kinzie Capital, expressed enthusiasm about the partnership, emphasizing Arctic’s reputation for quality and a customer-centric approach.
  • She added, “Arctic plays a critical role in servicing essential aspects of the economy, from foodservice to industrial businesses.

United Kingdom Loyalty Programs Market Report 2024: Regulators have Launched an Investigation to Review Loyalty Scheme Prices Offered by Supermarkets - ResearchAndMarkets.com

Retrieved on: 
Monday, February 19, 2024

The UK loyalty market is forecast to grow by 10.2% on an annual basis to reach US$9.02 billion in 2024.

Key Points: 
  • The UK loyalty market is forecast to grow by 10.2% on an annual basis to reach US$9.02 billion in 2024.
  • The adoption of loyalty and reward programs has increased in the United Kingdom over the last few years.
  • With the rising demand, new firms and retailers are also planning to launch loyalty and reward programs in the United Kingdom.
  • This report provides in-depth, data-centric analysis of loyalty programs in United Kingdom.

70/30 Food Tech Launches Mycelium Research Lab and Successfully Closes Seed Extension

Retrieved on: 
Tuesday, February 20, 2024

In a recent financial milestone, 70/30 Food Tech successfully closed its seed-extension round fundraising for an undisclosed amount.

Key Points: 
  • In a recent financial milestone, 70/30 Food Tech successfully closed its seed-extension round fundraising for an undisclosed amount.
  • The primary use of funds is to launch the 70/30 Mycelium Research Lab to develop fungi-based biomass ingredients.
  • 70/30 Food Tech is open to collaborations with potential research partners, future clients, suppliers of feedstock, and early-stage investors interested in the biotech and alternative protein sector.
  • For media inquiries or additional information, please contact: Eve Samyuktha, Founder and CEO, 70/30 Food Tech, Email: [email protected]
    View original content to download multimedia: https://www.prnewswire.com/news-releases/7030-food-tech-launches-myceliu...

Enpro Increases Quarterly Dividend

Retrieved on: 
Thursday, February 15, 2024

Enpro Inc. (NYSE: NPO) today declared a quarterly dividend of $0.30 per share, a 3.4% increase from the previous quarterly dividend of $0.29 per share.

Key Points: 
  • Enpro Inc. (NYSE: NPO) today declared a quarterly dividend of $0.30 per share, a 3.4% increase from the previous quarterly dividend of $0.29 per share.
  • Enpro has now increased its quarterly dividend for nine consecutive years since initiating a dividend in 2015.
  • “As part of Enpro’s balanced capital allocation strategy, we review our dividend annually.
  • The dividend is payable on March 20, 2024, to shareholders of record as of the close of business on March 6, 2024.

Meatable Strengthens Board of Directors to Accelerate Growth of Breakthrough Food Technology

Retrieved on: 
Thursday, February 15, 2024

“Meatable is at an exciting juncture in our growth trajectory as we prepare to launch our consumer products in Singapore and host our first tasting in the EU.

Key Points: 
  • “Meatable is at an exciting juncture in our growth trajectory as we prepare to launch our consumer products in Singapore and host our first tasting in the EU.
  • On the Meatable Board, Mr. Abony will support the company’s management team by advising on commercial development initiatives in the U.S. as well as future transactions.
  • “Compared to others in its category, Meatable is highly differentiated through its industry-first technology and phased approach.
  • “Meatable is working at the forefront of food technology and is a clear-cut leader in the cultivated meat space,” said Ms. Malarkey.

Enpro to Present at Gabelli Funds 34th Annual Pump, Valve & Water Systems Symposium

Retrieved on: 
Thursday, February 15, 2024

Enpro Inc. (NYSE: NPO) will participate in Gabelli Funds 34th Annual Pump, Valve & Water Systems Symposium on Thursday, February 22.

Key Points: 
  • Enpro Inc. (NYSE: NPO) will participate in Gabelli Funds 34th Annual Pump, Valve & Water Systems Symposium on Thursday, February 22.
  • Milt Childress, Executive Vice President and Chief Financial Officer, will present virtually at 2:15 p.m. Eastern Time.
  • The webcast presentation will be available on the company’s website, http://www.enpro.com .

Market Leader Chef Robotics Surpasses 10M Meals in Production Using AI-Enabled Robots

Retrieved on: 
Thursday, February 15, 2024

Chef Robotics , the creator of ChefOS, the AI Brain for food manipulation, announced today that its ChefOS Enabled Robots in production have achieved a major milestone as of January 2024: more than 10M meals in production.

Key Points: 
  • Chef Robotics , the creator of ChefOS, the AI Brain for food manipulation, announced today that its ChefOS Enabled Robots in production have achieved a major milestone as of January 2024: more than 10M meals in production.
  • This is more meals in production than any other intelligent food robotics company in production.
  • The Chef Robotics automation solution is also helping keep the American food supply chain onshore (as many are thinking of off-shoring given labor shortages).
  • In real-world production deployments at customer sites, Chef robots automate complex food assembly tasks by deftly manipulating a vast variety of ingredients and successfully mimicking the dexterity of humans.

Borealis Foods, a Rapidly Growing, Mission-Driven Food Tech Company, to Ring Nasdaq Closing Bell

Retrieved on: 
Wednesday, February 14, 2024

Borealis Foods Inc. ("Borealis" or the "Company"), (Nasdaq: BRLS) a food tech company focused on developing high-quality, nutritious food solutions at affordable prices, today announced that CEO Reza Soltanzadeh, joined by co-founder Barthelemy Helg and other members of senior management and the Board of Directors, will ring the closing bell of the Nasdaq Stock Market today in celebration of the recent listing of BRLS shares on the Nasdaq exchange.

Key Points: 
  • Borealis Foods Inc. ("Borealis" or the "Company"), (Nasdaq: BRLS) a food tech company focused on developing high-quality, nutritious food solutions at affordable prices, today announced that CEO Reza Soltanzadeh, joined by co-founder Barthelemy Helg and other members of senior management and the Board of Directors, will ring the closing bell of the Nasdaq Stock Market today in celebration of the recent listing of BRLS shares on the Nasdaq exchange.
  • Mr. Soltanzadeh commented, "Ringing the bell today is a testament to the extraordinary progress we have made since the Company’s inception in 2019.
  • We set out to create great tasting, nutritious food that would be affordable for everyone, and our listing on Nasdaq highlights the terrific success we have had to date.
  • A live stream of the Nasdaq Closing Bell will be available at: https://www.nasdaq.com/marketsite/bell-ringing-ceremony under Bell Ceremony Events at the bottom of the page.

White River Soy Processing Purchases Benson Hill Ingredients

Retrieved on: 
Wednesday, February 14, 2024

White River Soy Processing, LLC (White River), a developer and operator of oilseed processing plants in the U.S., announced today that it purchased Benson Hill Ingredients, LLC, which operates an established food grade soybean processing facility in Creston, Iowa, from Benson Hill, Inc.

Key Points: 
  • White River Soy Processing, LLC (White River), a developer and operator of oilseed processing plants in the U.S., announced today that it purchased Benson Hill Ingredients, LLC, which operates an established food grade soybean processing facility in Creston, Iowa, from Benson Hill, Inc.
    “We are pleased to add another valuable asset to our growing company,” said Walter Cronin, Co-Founder and President of White River.
  • “Today’s acquisition displays White River’s commitment to our company’s mission to supply better nutritional outcomes to our customers, as well as meet the growing need for high-quality soy protein products,” said Gordon Glade, Co-Founder of White River.
  • White River, headquartered in Omaha, Neb., separately purchased Benson Hill’s soybean processing facility located in Seymour, Ind., on Oct. 31, 2023, and announced in December 2023 it had been selected to develop an oilseed processing facility near North Platte, Neb.
  • The company is supported by agricultural-focused investors, and its team has decades of experience in grain processing, from plant operations to risk management and finance.

Benson Hill Successfully Retires Term Loan Facility, Divests Iowa Processing Operation For $72 Million

Retrieved on: 
Wednesday, February 14, 2024

Key Points: 
  • View the full release here: https://www.businesswire.com/news/home/20240214185324/en/
    Benson Hill has successfully retired its senior debt facility and divested its Creston, Iowa, soy processing business to White River Soy Processing (WRSP) for gross proceeds of $72 million.
  • (Photo: Business Wire)
    The Creston transaction closed Feb. 13, 2024, and is a pivotal step for Benson Hill as it sharpens its focus on core growth areas.
  • We thank them for their contributions to Benson Hill.”
    As a result of the purchase, Benson Hill has transferred to WRSP ownership and all operations related to the Creston soy processing facility, including the established customer base.
  • A specialty oilseed processor based in Omaha, Neb., WRSP also separately purchased Benson Hill’s Seymour, Ind., crush assets in October 2023.