JAMBAR Making Waves With New Tropical Trio Flavor and Signing of Pro Surfer Tia Blanco

Organic Energy Bar Maker Also Announces Three-Flavor Vegan Box

SAN RAFAEL, Calif. (March 6, 2024) – Organic energy bar maker JAMBAR today announced the launch of Tropical Trio – a new vegan flavor featuring a bright and breezy blend of banana, pineapple and coconut. In addition to this ensemble of island fruits, the new bar contains gluten-free ancient grains, walnut butter and 10 grams of plant-based protein. JAMBAR also revealed the signing of pro surfer, mother and plant-based athlete Tia Blanco, as well as the launch of a 12-bar vegan box that will include Tropical Trio, Jammin’ Jazzleberry and Musical Mango.

The new flavor was formulated by JAMBAR founder Jennifer Maxwell, a food scientist and co-founder of the original PowerBar®. Designed to take taste buds on an island escape, Tropical Trio features comforting notes of banana that meet the exotic with hints of coconut and pineapple. 

Professional surfer Tia Blanco.

Attendees at next week’s Natural Products Expo West (March 13-15) in Anaheim, California, will be the first to sample Tropical Trio at the JAMBAR booth (N2140). New JAMBAR ambassador Tia Blanco will be at the booth on Wednesday, March 13, from 1-4 p.m. for a meet and greet and to sign autographs.“Finally! A bar that not only tastes delicious, but one I can trust to deliver clean, plant-based energy. JAMBAR is the perfect fuel to power my active lifestyle and motherhood,” said Blanco.

A professional surfer from Southern California, Blanco was the gold medalist at the International Surfing Association Women’s World Surfing Championship in 2015 and 2016. She also won ABC’s The Ultimate Surfer competition in 2021 and is an accomplished yogi, painter and entrepreneur.

The newest member of Team JAMBAR, Blanco joins top-tier athletes including Olympic Gold Medalist Jonny Moseley, professional running power couple Joe Klecker and Sage Hurta-Klecker, Stroller Mile World Record Holder Neely Spence Gracey, pro cyclist and Gravel Hall of Famer Ali Tetrick, and professional skier and biker Ryan McElmon.

Tropical Trio is JAMBAR’s fifth flavor, and its first new flavor since the company launched in late 2021. In addition to the three vegan fruit flavors, JAMBAR also offers two bars that contain whey protein – Chocolate Cha Cha and Malt Nut Melody. All five flavors are crafted in a dedicated, state-of-the-art production facility in San Rafael, California.

JAMBAR Vegan Box Now Available
The company also announced the availability of a new 12-bar box featuring four bars each of JAMBAR’s three vegan options – Tropical Trio, Jammin’ Jazzleberry and Musical Mango. Every vegan bar contains 10 grams of high-quality sunflower protein and is sweetened using only organic maple syrup and natural sugars found in fruit.

The new vegan box can be purchased online at www.jambar.com and via Amazon Prime, and will be rolling out to retail locations this spring.

“Our vegan flavors pack a serious nutritional punch without sacrificing taste,” said Maxwell. “With the new vegan box, people who are focused on a plant-based diet can enjoy variety while staying true to their clean eating lifestyle.”

About JAMBAR
In late 2021, Jennifer Maxwell founded JAMBAR with the goal of helping people feel good about the ingredients they put in their bodies, and about the positive impact they can have on their local communities. Made from only premium organic ingredients, the bars feature ancient grains, authentic natural sweeteners and high-quality proteins.The company donates 50% of after-tax profits to organizations that support the transformative pursuits of music and sports. JAMBARs are available at jambar.com, via Amazon Prime, and at select grocery and sports specialty stores including Erewhon, Safeway (NorCal Division), Raley’s Supermarkets, Mother’s Market & Kitchen, Gelson’s Markets, Earth Fare, The Fresh Market, Good Earth Natural Foods, Mollie Stone’s Markets, Nugget Market and select Fleet Feet and other running store locations. Learn more at www.jambar.com and follow JAMBAR on Facebook and Instagram.

Media Contacts
Steven Hoffman, Compass Natural, steve@compassnatural.com, tel: 303.807.1042
Debbie Pfeifer, JAMBAR, debbie@jambar.com, tel: 206.669.3580

Woman-Owned JAMBAR®, Maker of Organic Whole Food Energy Bars, Expands Retail Presence with Erewhon

Founded by Jennifer Maxwell, creator of the original PowerBar®, JAMBAR certified organic energy bars are now available in all 10 locations of leading natural products retailer Erewhon. Rapidly growing its retail and distribution base, JAMBAR also recently appointed natural products industry sales veteran Darren Wagoner as national sales manager.

SAN RAFAEL, Calif. (Feb. 6, 2024) – Independent, woman-owned JAMBAR, the artisan-made, organic energy bar company founded in 2021 by Jennifer Maxwell, is pleased to announce significant expansion of its line of certified organic, whole food energy bars. Maxwell, a food scientist, athlete and musician, together with her late husband, Brian Maxwell, essentially created the entire energy bar category when they launched the original PowerBar® in the mid-1980s.

Consumers can now find JAMBAR organic energy bars in all 10 Erewhon locations. Based in Los Angeles, Erewhon is renowned as one of the most innovative natural products retailers in the U.S. Erewhon will offer three JAMBAR flavors – Malt Nut Melody, Chocolate Cha Cha and Jammin’ Jazzleberry. By supporting local producers, ethical brands and sustainable farming practices, offering exceptional customer service and education, and fostering community, Erewhon has built a reputation that attracts healthy lifestyle consumers, athletes, entertainers and celebrities alike.

“With its commitment to quality, selection and service, Erewhon has become a ‘gold standard’ among grocers who sell natural products. As a mission-based brand committed to providing customers with premium quality organic products at an affordable price, we’re excited to partner with Erewhon,” said Maxwell, JAMBAR’s CEO and founder.

“We are pleased to offer JAMBARs to our customers,” said Vito Antoci, executive vice president of Erewhon. “First, they are simply delicious and nutritious whole food, certified organic energy bars that meet our high standards. Second, we support mission-based brands such as JAMBAR, which donates 50% of after-tax profits to organizations that promote music and active living.”

JAMBAR Featured in Leading Groceries, Specialty Retailers
In addition to Erewhon, JAMBAR is expanding its retail presence across the U.S. – the company’s artisan-made, organic energy bars are now available in leading grocers and specialty and athletic stores, including Safeway (NorCal Division), Raley’s Supermarkets, Mother’s Market & Kitchen, Lazy Acres, Gelson’s Markets, Earth Fare, The Fresh Market, Good Earth Natural Foods, Mollie Stone’s Markets, Nugget Market, Cambridge Naturals, United Market, Scotty’s Market, Lucky’s Market, Bon Appetit, Fleet Feet and more.

Using only certified organic, whole food ingredients, JAMBARs are crafted in small batches in the company’s own state-of-the-art facility. Made of organic ancient grains, berries, nuts, premium chocolate, proteins from sunflowers and organic dairy, and real syrup, juices and honey as sweeteners, JAMBAR delivers a convenient, incredibly tasty bar you can take anywhere. All four flavors of JAMBAR  — Malt Nut Melody, Musical Mango, Chocolate Cha Cha and Jammin’ Jazzleberry — are also available online at JAMBAR.com and via Amazon Prime. 

For wholesale accounts, JAMBAR is distributed by leading natural and specialty foods distributors including UNFI, KeHE and Chex Distributing. For wholesale inquiries, contact jammin@jambar.com, tel 877-JAMBARZ.

JAMBAR Appoints National Sales Manager
In related news, JAMBAR recently appointed natural products industry sales veteran Darren Wagoner as national sales manager. Wagoner’s experience includes serving as national account manager and key account manager for such leading brands as Activate Drinks, Purity Organic, High Brew and CB Gourmet Foods. The appointment reflects the company’s focus on building sales in key natural products markets as it expands manufacturing and distribution. 

Visit JAMBAR at Natural Products Expo West, Booth N2140
Visit JAMBAR at Natural Products Expo West, the world’s largest natural and organic products trade exhibition, March 13-15, 2024, Booth N2140 in the North Hall’s Hot Products Pavilion at the Anaheim Convention Center in Anaheim, California. In addition, JAMBAR will be sampling its products at all Erewhon Southern California locations the week before Expo West.

About JAMBAR
In 2021, Jennifer Maxwell founded JAMBAR with the goal of helping people feel good about the ingredients they put in their bodies, and about the positive impact they can have on their local communities. A mission-based brand, JAMBAR donates 50% of after-tax profits to organizations that support music and active living. Runner’s World named JAMBAR the Best Protein Bar for runners in 2022 and also recognized JAMBAR with its 2023 Fitness Nutrition Award. Learn more at www.jambar.com and follow JAMBAR on Facebook and Instagram.

Media Contacts
Steven Hoffman, Compass Natural, steve@compassnatural.com, tel: 303.807.1042
Debbie Pfeifer, JAMBAR, debbie@jambar.com, tel: 206.669.3580

AI Leads Tech Transformation in Natural Foods

This article first appeared in Presence Marketing’s August 2023 newsletter.

By Steven Hoffman

While 2023 may not be the year the singularity took place, with the launch of the first user-friendly artificial intelligence (AI) chat bot, ChatGPT, it could well go down in history as the Year of AI.*

From regenerative organic agriculture and nutrition research to product development, marketing, distribution and retail operations, business leaders in the natural channel are already finding multiple uses for this nascent yet transformative technology. A growing number of natural and organic products companies are taking the lead in employing AI automation, and such uses across the supply chain are growing as exponentially as the technology upon which it is based.

For the grocery industry, AI is projected to generate $113 billion in operational efficiency and new revenue by 2025. In a June 2023 study by data analytics firm Grocery Doppio, conducted in partnership with FMI – The Food Industry Association, and based on interviews with 152 grocery executives, implementation of artificial intelligence in supermarkets is expected to grow by 400% by the end of 2024. In addition AI “could eliminate 18% of store associate positions, 73% of store tasks and 53% of shopper queries,” reported Winsight Grocery Business.

AI adoption will deliver $113 billion in operational efficiency and new revenue opportunities for the grocery industry by 2025. Source: The Times They Are A-Changing: Impact of AI in Grocery. Source: Grocery Doppio

According to Grocery Doppio’s findings, inventory management savings could account for more than half of the estimated $113 billion in value. AI also will help grocers save billions in merchandising costs through advancements in product assortment and pricing optimization. Other savings include marketing, store operation costs, and IT technology.

While AI is not necessarily a new area for the grocery industry, grocers are focusing more on the “responsible, ethical use” of artificial intelligence,” said Mark Baum of FMI in a July 13th, 2023, Grocery Dive report. One quarter of retailers and more than a third of suppliers are using artificial intelligence (AI) to track product preferences and spending to anticipate consumer wants and needs, according to FMI’s 74th annual survey, The Food Retailing Industry Speaks 2023. “Every CEO needs to at least think like a CIO, if not act like a CIO, going forward. We’d like to say these days if you’re not technology enabled, you’re competitively disadvantaged,” Baum said.

Yet, a major concern among grocery and other workers is that AI could automate or partially automate up to 300 million jobs over the next decade, according to a study by Goldman Sachs. The industries most impacted by AI-driven automation will be “office and administrative support” and “legal.” However, according to Goldman Sach’s findings, “Once AI is implemented, workers will be more productive leading to an overall increase in output. This could lead to a 7% increase in annual GDP, equivalent to an astounding $7 trillion.”

Read on to learn how some early adopters in the natural and organic products industry are making innovative use of AI technology.

Research and Product Development
Dietary supplement companies have been utilizing AI to speed up the research of nutritional compounds. Companies like Brightseed employ machine learning to develop bio-active phytonutrient compounds to support gut health. Supplement maker Nuritas, recipient of Nutrition Business Journal’s 2023 Science and Innovation Award, employs artificial intelligence to identify “novel health-benefitting ingredients” and “the best plant-sourced, cell-signaling peptides,” said Nuritas founder Nora Khaldi.

In a July 2023 podcast, The Natural List, Aadit Patel, VP of Product Engineering at NotCo, a plant-based food technology company, shared how it uses AI and “the right balance of technology and humanity” to bring novel plant-based meat and dairy alternatives to market.

In related news, researchers at Northeastern University have developed an AI algorithm, FoodProX, that can predict the level of processing in food products and if a food has been “ultra-processed.” Such information is important for researchers in examining the health impacts of processed foods, Neuroscience News reported in June 2023.

Marketing
In an in-depth interview in Strategy Magazine, Arjan Stephens, President of leading organic food manufacturer Nature’s Path, shared that AI helps the company deal with inflation and competition by creating more targeted messaging in a quicker timeframe.

“The aim is to educate consumers on our commitment to fueling healthy communities as well as the inherent value of supporting and investing in a triple bottom line business like ours. A.I. has been a huge part of driving efficiencies in getting more strategic content to market more quickly. It not only enables us to swiftly create and distribute content, but to also respond more efficiently to consumer feedback and shopping behavior changes. This will continue to be critical to competing in a market that is oversaturated in greenwashing and misinformation,” Stephens said.

Distribution
Distributors, in particular, are looking to AI – and even AI-powered robots – to optimize supply chain and transportation logistics. Leading natural foods distributor UNFI in June 2023 announced a partnership with Finnish firm RELEX Solutions. Driven by AI and machine learning, RELEX will work with UNFI to consolidate and replace multiple UNFI buying systems into “one enhanced process, combining a more robust analysis of demand with a more granular approach to procurement,” UNFI said in a statement. 

UNFI’s new AI platform is expected to become operational over the next 12 to 18 months. “As part of UNFI’s multi-faceted transformation agenda, we’re continuing to implement cutting-edge technology to improve the customer and supplier experience, while increasing operating efficiency,” said Erin Horvath, Chief Operating Officer at UNFI. In March 2023, UNFI announced that it would utilize robots powered by artificial intelligence and software automation and new scanning technology at its distribution center in Centralia, Washington.

Grocery wholesale cooperative Associated Food Stores (AFS) also plans to deploy robotics and AI-powered automation technology at is distribution center in Farr West, Utah, according to a May 9th, 2023, report in Winsight Grocery Business. Working with technology company Symbotic, AFS’s end-to-end automation system will include robotic case-pick capabilities “to enhance a range of retail-facing experiences,” including supply, expanded assortment and product delivery to stores.

Seeking to disrupt the traditional natural products distribution sector, Pod Foods claims it offers the first truly “infinite” warehouse for food procurement in the industry while providing retailers with data-driven, relevant access. The engine is powered by the company’s “Pod Bytes” data platform, which synthesizes data from its B2B marketplace, economic indicators, and other grocery-adjacent and third-party sources, the company said. The built-for-grocery models provide retailers with personalized, AI-enabled insights across all areas of discovery, including product placement, procurement, inventory optimization and market opportunity. The result is access to an endless yet personalized assortment of products, targeted to each retailer based on consumer purchasing behavior, desired retail margins, local trends, and more, the company says. Pod Foods in April 2023 appointed former VP executive and CPG veteran Michael Schall as President.

Retail
At The Fresh Market, which operates 160 stores in 22 states, longtime marketing partner Firework is implementing a patent-pending artificial intelligence platform to enhance The Fresh Market’s video content for consumers. The technology will allow shoppers to ask questions and receive sophisticated, real-time answers in The Fresh Market’s in-video chat feature. Viewers will be able to ask such questions as, “What is the recipe for the salad being made in this video?” and the AI chatbot will list the ingredients.

“The new AI engine makes use of a large language model (LLM), can understand and respond in a wide range of languages, and can be customized to reflect each brand’s unique voice,” The Fresh Market said in a statement. The new technology will be available on The Fresh Market’s website and its shoppable video live commerce retail media network. “Our customers are looking to engage with our brand in real time, both online and in store. With Firework’s generative AI technology, we can be certain that customers will receive prompt, friendly and personalized support whenever they choose to engage with our video commerce content,” said Kevin Miller, CMO at The Fresh Market.

Shoppers at Sprouts Farmers Market can now use an AI-based shopping assistant called Quin. The phone-based app from New York-based developer Verneek can answer spoken or typed questions about items sold in the stores and provide information about recipes, keto-friendly options, nutritional value and more. “As technology continues to evolve, Sprouts is always exploring new and innovative ways to improve our customer experience while providing joy in healthy living,” Sprouts said in a statement. Nasrin Mostafazadeh, Cofounder of Quin, said in ArcaMarx Magazine in April 2023 that the timing was right to launch Quin in grocery stores. However, he noted, Quin is not intended to replace grocery workers but to supplement them, giving them more time to focus on their job responsibilities, such as stocking shelves, doing inventory or checking out customers.

On THRIVE Market’s blog, the online retailer helps customers evaluate the best AI recipe generators. “There are now lots of websites that use AI machine learning to populate recipes based on ingredients, dietary restrictions, and even cooking skill level,” wrote THRIVE blogger Amy Roberts. “Some create a recipe based on ingredients you have on hand, while others churn out a recipe based on a query, like ‘Make a gluten-free chicken parmesan.’” Roberts reviewed ChatGPT for a vegan cheesecake recipe, Let’s Foodie for a red cabbage slaw, and PlantJammer for lasagna. “Did it work?” Roberts asked. “Surprisingly yes! The cheesecakes were a hit!” Though, Roberts admits she continues to refer to Pinterest for her own recipe ideas.

Using an organic food store as an example, AI platform Business Name Generator cites the following case study: “Consider the case of a budding entrepreneur, John, who planned to start an organic food store. He wanted a name that conveyed freshness, health, and sustainability. After struggling with brainstorming sessions, he turned to an online business name generator. He entered keywords such as ‘organic,’ ‘fresh,’ ‘healthy’ and ‘green.’ In seconds, the tool provided him with a list of potential names like ‘Freshly Organic,’ ‘Green Harvest,’ “Healthful Bounty’ and ‘SustainaBite.’ John was able to choose a unique and meaningful name for his store.”

Agriculture
For regenerative and organic farmers, AI technologies including machine learning and data analytics are being used to develop sophisticated monitoring systems that can provide farmers with real-time information about factors that affect soil health, including nutrient deficiencies and moisture levels. Combined with the use of sensors, drones and satellite imagery, AI algorithms are being used to analyze massive amounts of data to determine the optimal amount of water needed for each crop, reducing water waste, and ensuring that plants receive necessary nutrients for healthy growth. This not only conserves water resources but also helps to prevent soil degradation caused by overwatering, reported Marcin Frackiewicz in TS2 in May 2023.

At the University of California Davis, the AI Institute for Next Generation Food Systems (AIFS), funded in part by USDA, was launched in 2020 with a mission of meeting growing demand in the food supply by increasing efficiencies using AI and “bioinformatics” spanning the entire system from seed to shelf. Bringing more than 40 researchers together, AIFS says it aims to “bring artificial intelligence technology to the entire food system from crop breeding and farming to food production and nutrition. The institute will combine the development of the latest breakthroughs in artificial intelligence with preparing the food and agriculture industries to rapidly adopt them and ready the workforce.”

In addition, leading technology companies including IBM, Microsoft, Intel and others are focusing on developing artificial intelligence for use in agriculture and food production. Microsoft’s Project FarmVibes seeks to foster sustainable agriculture by collecting and analyzing data in from drones, sensors and other equipment to help farmers make real-time decisions about their crops. Intel and the National Science Foundation in 2022 invested $220 million in a number of AI ventures, including research in AI-Driven Innovation in Agriculture and Food Systems. Focusing on regenerative agriculture, IBM in 2022 launched IBM Regenerative Agriculture, which uses AI, data analytics, cloud technology and predictive insights to interpret agricultural and weather data and help farmers make decisions about crops.

“The food chain is a complex ecosystem that touches our everyday lives, and this is where AI has an advantage – by navigating the complex web of information, from farming to food distribution,” said Bryton Shang, CEO of Aquabyte in Forbes in July 2023. “It can help ensure higher-quality decision-making every step of the way.”

* Written and researched by a real human, with 40+ years’ experience in natural and organic foods and sustainable agriculture.

Steven Hoffman is Managing Director of Compass Natural, providing public relations, brand marketing, social media, and strategic business development services to natural, organic, sustainable and hemp/CBD products businesses. Compass Natural serves in PR and programming for NoCo Hemp Expo and Southern Hemp Expo, and Hoffman serves as Editor of the weekly Let’s Talk Hemp Newsletter, published by We are for Better Alternatives. Contact steve@compassnaturalmarketing.com.

Zevia Latest in Hot Season of Industry IPOs

This article originally appeared in Presence Marketing’s August 2021 Industry Newsletter

By Steven Hoffman

Zevia the Latest in a Hot Season of Industry IPOs, Private Equity Investment
For decades, the natural products industry has repeated the gospel of the relationship between diet and health.

This year, the Covid-19 pandemic drove that simple truth home, to consumers seeking to boost immunity and health, to businesses seeing opportunity in selling better-for-you products, and to investors, as sales of natural foods and supplements surged in both brick-and-mortar locations and via e-commerce, as shoppers became much more comfortable shopping for groceries from their computers or smartphones at home during lockdown.

Now, as the U.S. healthy food industry emerges from one of the most challenging times in its history, investment in the natural and specialty foods channel is surging, including private equity and public offerings.

This year alone, to date in 2021, more than $10 billion in venture-backed capital has been invested in grocery startups, “vaulting past the $7 billion raised in the sector last year,” reported The Spoon on July 2. According to an April 2021 report by Finistere Ventures and Pitchbook Data, a total of $22.3 billion in private equity was invested in agrifood tech companies, including novel ingredients and alternative proteins, meal kits and food delivery, e-commerce, consumer facing tech, and supply chain, reported Food Dive. 

In the public markets, a number of healthy products companies have completed, announced, or are considering IPOs, as the stock market continues to show signs of strength.

Here are highlights of IPO activity announced over the past few months:

Zevia Rides No Added Sugar Trend to IPO
Zero-calorie beverage maker Zevia began trading on July 22 on the NYSE under the ticker symbol ZVIA, pricing shares of its initial public offering at $14 per share. Net sales of Zevia products increased 29% year over year to $110 million, while increasing gross margins from 43% to 45%, reported Food Navigator-USA. Zevia credited its 2020 growth to a combination of velocity gains, growth in e-commerce (now accounting for 13% of sales), and increased distribution, with product available on Amazon, Zevia.com and more than 25,000 retail locations in the U.S. and Canada.

Specialty Grocer The Fresh Market Files for IPO
Specialty grocer The Fresh Market, based in Greensboro, NC, filed for an IPO on July 16. The specialty grocer operates 159 stores in 22 states. In the filing, the company reported comparable store sales growth of 22.3% in FY2020, up from -1.8% the previous year. The company intends to list on the Nasdaq exchange under the symbol TFM. CEO Jason Potter, in a letter to prospective shareholders, said the company made a number of changes after being acquired in 2016 by a private firm, including remerchandising the stores to focus on premium fresh food and offering competitive pricing on staple items, reported Grocery Dive.

Newly Combined Dole plc Announces IPO, Will Trade on NYSE
A newly created company formed from the combination of Total Produce plc and Dole Food Company Inc. announced on July 19 that it is planning an IPO of 26 million shares, priced between $20 and $23 per share. The new Dole plc says it will list shares on the NYSE under the ticker symbol DOLE. The combined businesses each have more than 150 years of history in the fresh produce industry, says the company, which claims it is one of the world’s largest producers of fresh bananas and pineapples, and one of the leaders in value-added salads and fresh-packed vegetables. The company also says it will have a growing presence in categories including berries, avocados and organic produce.

Healthy Snack Company Stryve Foods Begins Public Trading after SPAC Merger
Confident the company can disrupt the meat snack category, Plano, TX-based Stryve Foods, maker of meat snacks, on July 19 announced a merger with Andina Acquisition Corp. III under a shareholder-approved deal. Andina, a specialty purpose acquisition corporation (SPAC), changed its name to Stryve Foods, and began trading on the Nasdaq exchange under the symbol SNAX in late July. Stryve Foods is led by co-founder and co-CEO Joe Oblas, and co-CEO and chief marketing director Jaxie Alt, a veteran of the Dr. Pepper Snapple Group, reported Food Dive. Valued at $170 million, Stryve began by selling air-dried cured meats known as biltong, a tradition originating in South Africa that uses less sugar and additives than traditional meat jerky. Stryve reported sales of $14 million in 2019 and nearly $20 million in 2020, reported the Dallas News.

Instacart IPO Could Be One of the Biggest IPOs of 2021
After a round of fundraising this past spring that valued the company at $39 billion, rumors have abounded about a potential public offering from home delivery service Instacart. That said, Forbes reported in June that if it does go public, Instacart could potentially be one of the biggest IPOs of the year, though it was reported the company could opt for a Direct Listing, an alternative to a public offering in which no new shares are created and only existing, outstanding shares are sold. Currently, there is no information related to an Instacart IPO release date. However, MarketWatch reported that the company replaced its founder Apoorva Mehta as CEO with Facebook veteran Fidji Simo, who will take over leadership of the company in August ahead of an anticipated IPO possibly later this year.

Thrive Market Is Considering $2 Billion IPO Amid Surging eGrocery Sales
Online grocery sales nearly tripled in 2020, according to a July 2021 report by Packaged Facts. Based on this explosive trend, Bloomberg reported on July 8 that online membership-based natural products grocer Thrive Market, headquartered in Los Angeles, is considering an initial public offering at a valuation of more than $2 billion. According to Bloomberg, the company is working with investment bank Goldman Sachs Group. The company was founded by natural products and tech entrepreneurs Nick Green, Gunnar Lovelace, Kate Mulling and Sasha Siddhartha. By 2016, the company raised $141 million across three rounds of funding following its launch in 2014. According to Thrive Market, for every paid membership, Thrive Market donates a free membership to a family in need. 

Chobani Files Confidentially for IPO; Company Valuation May Exceed $10 Billion
Chobani, the company that put Greek yogurt on the map, could potentially be valued at more than $10 billion in an IPO, a source told Reuters on July 7. The company on July 6 filed a confidential draft registration statement with the Securities and Exchange Commission (SEC) for a proposed underwritten public offering of common stock, with the number of shared and price range yet to be determined. Chobani, which means shepherd in Turkish, was founded in in 2005 by Turkish immigrant Hamdi Ulukaya, who, with a small business loan, bought a yogurt plant in South Edmeston, NY, that was being closed by Kraft Foods. Chobani, which produces yogurt, oat milk, dairy and plant-based creamers and other products, also is renowned in the natural products industry for its business accelerator program for mission-based food startups, the Chobani Incubator.

Eat Just Is Targeting a $3 Billion Valuation in Considering IPO in Q4 2021
California-based Eat Just, cofounded in 2011 by Josh Balk and CEO Josh Tetrick, has raised a total of $440 million to date, including a recent $200 million placement led by the Qatar Investment Authority, Forbes reported on June 25. According to Forbes, Eat Just’s cultured meat division, GOOD Meat, also secured $170 million in financing in May 2021 as it builds out a large-scale manufacturing facility for cultured meat in Singapore. Eat Just seeks to be one of the first companies to sell meat made from animal cells instead of slaughtered livestock, and according to Forbes. Tetrick feels the positive feedback on cultured meat the company has received in Singapore serves as validation for expansion of cultured meat products in the U.S. in the future. Tetrick confirmed to Forbes that a public offering is “definitely getting closer.”

Naomi Osaka-backed Salad Chain Sweetgreen Confidentially Files for IPO
Fast casual restaurant chain Sweetgreen, specializing in salads and plant-based foods, on June 21 announced it had confidentially filed for an initial public offering, with Reuters reporting that the restaurant chain, which includes tennis star Naomi Osaka as an investor, is hoping for strong investor interest “as demand for plant-based food products surges globally.” The healthy food chain was founded in 2007 with one location in Washington, D.C., by three college roommates at Georgetown University’s business school. Currently, the company operates 122 locations in 12 states across the U.S. To date, the company has raised a total of $478.6 million in funding over 13 rounds, according to Crunchbase. Sweetgreen was named one of Fast Company’s Most Innovative Companies in 2019 and 2020. 

Vita Coco, Runa Parent Company Files for IPO with Company Valued at $2 Billion
All Market Inc., parent company of Vita Coco, Runa energy drinks and the water brand Ever & Ever, may be planning an initial public offering as soon as Q3 2021, according to a June 18 report by The Business Times. According to unidentified sources, All Market could be valued at more than $2 billion. Vita Coco, founded in 2004, produces a variety of coconut-based beverages. According to Statista, sales of Vita Coco products totaled approximately $160 million in 2020. All Market Inc. in 2018 acquired Runa, a popular energy drink made from guayusa, found in the Amazon rainforest. The company’s Ever & Ever brand markets pH balanced water in recyclable aluminum bottles.  

Oatly Raises $1.4 Billion in May 2021 IPO; Shares Rise 18% on First Day of Trading
Swedish oat milk maker Oatly, which reportedly counts such famous investors as Oprah Winfrey, Natalie Portman, Jay-Z and former Starbucks CEO Howard Schultz, raised $1.4 billion in an initial public offering on May 20. Shares were priced at $17, valuing the company at nearly $10 billion, according to CNBC. The company now trades on the Nasdaq exchange under the ticker symbol OTLY. In 2020, the company reported its revenue more than doubled over the previous year to $421.4 million, with food service accounting for 25% of sales and retail accounting for 75% of sales. Oatly reported a net loss of $60.36 million in 2020 as it invested in expanding into new markets, raising brand awareness and manufacturing, CNBC reported. Oatly CEO Toni Petersson in May told Food Navigator-USA “This is about conversion, it’s about converting people who used to drink cow’s milk into Oatly. And the addressable market is just massive … so it’s growth over profit.” Oatly products are currently sold in 60,000 retail locations and more than 30,000 coffee shops, reported VegNews.

Jessica Alba’s Honest Co. May 2021 IPO Raised $412.8 Million
Honest Co., the cruelty free personal care, household products and baby products brand co-founded by actor Jessica Alba, raised $412.8 million in an initial public offering held on May 4, CNBC reported. Trading under the ticker symbol HNST on the Nasdaq exchange, the company sold 25.8 million shares at $16 per share in its first day of trading, valuing it at $1.44 billion. The Honest Co. had revenue of $250 million in 2016, but has yet to turn a profit, reported LiveKindly. Alba, who started the company in 2011 three years after having her first child, said she founded the brand because she noticed a lack of natural baby products made without harsh chemicals in the marketplace. “When you look at this business, it feels like this is the direction in which the world wants to head,” said Motley Fool analyst Jason Moser on June 28. “A company that's very focused on ESG and sustainability. I think a big question for a business like this, it really boils down to pricing oftentimes. It's a little bit more expensive to make this stuff right now in the near term… As time goes on, those costs will come down, and I think a company like the Honest Co. has some brand equity that could play out in its favor.”

Impossible Foods In Talks to Go Public with a $10 Billion Valuation
Based on an April 8 report in MarketWatch, plant-based foods maker Impossible Foods is preparing for an initial public offering that could value the company at about $10 billion. Founded in 2011 and based in Redwood City, CA, Impossible Foods was recently valued at $4 billion in a private funding round in 2020, MarketWatch reported. The company’s signature product, the Impossible Burger, debuted in 2016. Sources told Reuters in April that Impossible Foods is exploring an IPO within the next year or a merger with a special purpose acquisition company (SPAC). Merging with a SPAC – a shell company that raises funds in an IPO with the goal of acquiring a private company – is becoming a popular alternative for companies seeking to go public “with less regulatory scrutiny and more certainty over the valuation that will be attained and funds that will be raised,” Reuters reported. Reuters also disclosed that Impossible Foods has raised $1.5 billion in the private investments, to date, with backers including Khosla Ventures, Horizons Ventures, and celebrities including tennis star Serena Williams and rapper and music entrepreneur Jay-Z. According to Food Dive, rumors of an IPO for Impossible Foods have circulated since competitor Beyond Meat went public in 2019.

Diversity, Inclusion and the Natural Products Industry

Photo: Pixabay

This article originally appeared in Presence Marketing’s May 2021 Industry Newsletter and New Hope Network’s IdeaXchange

By Steven Hoffman

This month’s news items focus on recent efforts in the natural and specialty foods industry to advance and integrate diversity and inclusion in America’s food system. You can learn more and explore how to get involved in these efforts by visiting the J.E.D.I. Collaborative, www.jedicollaborative.com.

J.E.D.I. Collaborative Seeks to Expand Diversity in the Natural Products Industry
In a Compass Coffee Talk conversation in April, Carlotta Mast, Co-founder of the J.E.D.I. Collaborative, announced that the organization – dedicated to expanding Justice, Equity, Diversity and Inclusion in the natural and organic products industry, will soon be appointing a new Executive Director. The organization recently engaged Ryan Pintado-Vertner, Founder of Smoketown, a Chicago-based agency dedicated to expanding diversity and social impact in the CPG industry, to help further J.E.D.I.’s reach, focus and influence in the natural products market. “We’re standing on the shoulders of a lot of effort and work, and with the Black Lives Matter movement, we’ve hit an inflection point. The 15% pledge is the reason companies like Target and Fresh Market have taken these initiatives,” said Pintado-Vertner, referring to an initiative launched in 2020 calling on major retailers to commit to a minimum of 15% of their shelf space to Black-owned businesses. The J.E.D.I. Collaborative was founded by One Step Closer (OSC), an industry organization dedicated to zero waste packaging, reversing climate change, conscious leadership and a just and regenerative society. Compass Coffee Talk is produced by Compass Natural Marketing and sponsored by Presence Marketing / Dynamic Presence.

How Natural Companies Can Turn Societal Upheaval Into Better Branding
In the recent issue of Nutrition Business Journal, featuring guest editor Emerald-Jane Hunter of the myWHY Agency, writer Rick Polito outlined lessons marketers and brand executives learned in the past year that they are taking into the future. One is to commit to Justice, Equity, Diversity and Inclusion (J.E.D.I.) (see above). “If you don’t have a diversity strategy, you don’t have a growth strategy,” one industry veteran said. For the natural products industry, that means “figuring out how to move beyond a primarily white and affluent audience, how to support Black-owned businesses and how to embrace diversity within its own corporate teams,” he wrote. According to a Natural and Organic Industry Benchmarking Survey, in the boardrooms of natural products brands, only 2% of leadership positions are occupied by Black professionals. Samantha Flynn, who works with the myWHY Agency, emphasized that authenticity means more than posting supportive messages, especially to Gen Z. “They believe in the power of their dollar and no purchase is too small for them to be examining what the company stands for,” she said. 

Natural Products Industry Fund to Provide Scholarships, Networking for HBCU Students
The Organic & Natural Health Association (ONHA) recently announced a partnership with the Williams-Franklin Foundation to raise a minimum of $50,000 over the next five years to provide scholarship funds for students attending historically black colleges or universities (HBCU). The Organic & Natural Health Scholarship Fund will support students in financial need, and ONHA also committed to support networking opportunities for HBCU students, graduates and natural health executives with the purposes of creating internships and career opportunities, while helping to create a more diverse and inclusive industry. “This is an Organic & Natural Health initiative, but it’s not ours to own,” said Karen Howard, executive director of ONHA. “We want to make this an industry-wide initiative for diversity and inclusion, and we want it to be as big and as noteworthy as what Vitamin Angels has achieved for dietary supplement distribution to countries in need. Exposure to our industry is the biggest barrier to lack of diversification in our organizations. Together, as an industry, we can proactively work to change this dynamic.” The Williams-Franklin Foundation is a 501(c) 3 incorporated nonprofit that provides academic scholarships, business/career networking, and mentoring opportunities to HBCU students with extreme financial need. Led by husband and wife team, Dwight and LaShelle (Williams) Franklin, both HBCU graduates used their own seed money to launch the foundation in 2014. Leaders and companies within the natural products industry who want to donate a tax-deductible gift directly to the Williams-Franklin Foundation’s Organic & Natural Health Scholarship Fund select “Organic & Natural Health Fund” in the dropbox when donating at: https://www.wmsfranklinfoundation.org/donate/.

The Fresh Market Appoints New Head of Diversity
Specialty grocer The Fresh Market has named one of its senior leaders, Gerald Walden, to a newly created position within the retail chain as Vice President, Deputy General Counsel and Head of Diversity. As Head of Diversity, Walden will oversee The Fresh Market’s efforts to advance and integrate diversity, equity and inclusion values and practices across the company and with business partners and customers, the company said in a statement. Walden previously served as VP, Head of Legal for The Fresh Market, which operates 159 stores in 22 states. Walden currently serves on The Fresh Market’s Diversity Action Board and, for a decade has overseen the retailer’s legal internship program, which provides exclusive opportunities to minority law students. Walden also has an extensive background in inclusive leadership, having served as the Chair of the North Carolina Bar Association’s Minorities in the Profession Committee, the President of the Guilford County Association of Black Lawyers, and currently Walden serves as a Board Member of the National Employment Law Council and two historically Black universities, the company said.

Dr. Bronner’s Issues Statement Against Hate Crimes Toward Asian Americans
Asian-American and Pacific Islander employees at Dr. Bronner’s, together with the company’s BIPOC (Black, Indigenous and People of Color) taskforce, have issued a statement against hate toward Asian-Americans and Pacific Islanders amid reports that anti-Asian hate crimes rose nearly 150% in America’s largest cities last year. “We have unfortunately seen this over and over again in human history: when a nation struggles with problems, its citizens look for a group to blame, a group they can scapegoat or attack—and often that group is one that is already considered to be outsiders, illegitimate, or somehow less deserving. We recognize that many in the U.S. are truly hurting—devastated by the multiple health and economic crises brought on by the Covid-19 pandemic. But the healing of this pain will never be found in the oppression of other people. It is incumbent on all of us to speak up and intervene if we witness this kind of harassment or racism. It is also imperative that we speak up against the use of phrases like ‘China virus’ or ‘Wuhan virus’ to describe the Covid-19 pandemic, as that sort of language unfairly casts Asians as responsible for the pandemic and creates the conditions for the kind of racist abuse that has been on the rise. This kind of scapegoating of a particular racial group runs directly counter to our grandfather’s All-One vision and is against everything we practice and promote as a company. Dr. Bronner’s speaks out categorically against all harassment or victimization of members of our Asian-American and Pacific Islander (AAPI) community,” the statement said. Dr. Bronner’s customers can opt in to donate 10% of sales proceeds – at no additional cost – to Asian Americans Advancing Justice through June 30.

Natural Industry Survey: Smaller Companies Are More Diverse than Larger Ones
Leadership teams and boards of directors in the natural products industry lack diversity and are predominately comprised of white men, according to a survey of 220 industry leaders conducted by the J.E.D.I. Collaborative and New Hope Network. According to the benchmark survey, Black and Latinx membership on natural products industry boards is only 2%, while Black and Latinx representation on leadership teams is 2% and 6%, respectively, according to New Hope Network. Smaller companies are more diverse than larger ones: companies with fewer than 10 employees have more women and people of color in management positions, the survey found. According to New Hope Network, today’s natural and organic consumer is primarily white (73%), yet the U.S. population is headed toward a white minority population by 2043. “The U.S. is becoming increasingly diverse and it is imperative that manufacturers and retailers serve the changing population,” the editors of New Hope said. “Becoming a more diverse community will allow us to be able to serve the people who could benefit most from health-promoting food and products and contributes to the long-term costs that all of society pays when we support an unjust food and agricultural system.” Companies can make the J.E.D.I. commitment toward inclusion and diversity here.

Target to Spend More than $2 Billion with Black-owned Businesses by 2025
Target Corporation in April announced it has committed to spending more than $2 billion with Black-owned businesses by the end of 2025. In a statement, Target said it is pledging to add products across multiple categories from more than 500 Black-owned companies, and is introducing resources to help its Black-owned vendors grow and successfully scale their businesses in mass retail. Building off of the retailer’s Target Accelerators, a program that supports entrepreneurs to drive innovation, the company is introducing a new program called Forward Founders. This program will engage Black entrepreneurs earlier in their startup journey to help them navigate the critical stages of ideation, product development and scaling for mass retail, Target said. With increased access to subject matter experts and educational workshops earlier in the startup process, Forward Founders is designed to help Black-owned businesses increase their potential for long-term success in retail, said the company. For more information, visit Target’s Supplier Diversity page.

Molson Coors Invests in TRU Colors, Founded by Rival Gang Members
Molson Coors, which has been expanding its portfolio beyond beer to include hard seltzer, spirits, energy drinks and non-alcoholic functional beverages, in April announced it has made an equity investment in TRU Colors Brewery, a Wilmington, NC-based company founded by a tech entrepreneur and rival gang leaders from the Bloods, Crips and GD. TRU stands for Truth, Responsibility and Unity, according to company founders, and the brand has a mission to provide employment and to unify rival gangs, Molson Coors said in a statement. In addition to an equity investment, Molson Coors will serve as a strategic partner to assist the company with distribution strategy, brand positioning, supplier relationships, marketing and advertising consultation, and product formulation. Molson Coors said the move is not only a strategic investment, but also marks the latest in a series of actions designed to foster a more inclusive and diverse culture. The company announced a goal of increasing representation of people of color in its U.S. operations by 25% by the end of 2023 and committed to donating a cumulative $3 million to 26 local and national organizations dedicated to equality, empowerment, justice and community building from 2020-2021.

Campbell Soup Company Flipping the Script on Diversity and Inclusion
By taking a stand on social issues and social justice, companies can attract and maintain talent and investors, said Campbell Soup Company CEO Mark Clouse in a recent webinar. “Our employees want to know where we stand on these things, and it’s also great to see investors starting to ask me those questions,” Clouse said, according to Food Navigator. “The idea of inclusion coming first is really about wiring comprehensively a broad scope plan and strategy that will change culture that make it conducive to attracting and retaining diversity,” he said. According to Clouse, Campbell in October 2020 appointed Camille Pierce as Senior VP and Chief Culture Officer to help ensure its diversity and inclusion efforts become embedded in the company’s leadership and culture. Campbell has developed strategies around three pillars, said Clouse: capabilities & education, advocacy, and accountability. These pillars serve as a framework for metrics – not quotas – he said, and outcomes that “are placed on a time continuum.“ Then Campbell “measures the heck out of them. We may not get it right every time, but we try to be thoughtful” and learn from experiences to create a more inclusive and diverse workplace, he said. For more information, visit here.

Organic & Regenerative Agriculture Has Roots in Black, Native American Farming
Dr. George Washington Carver was one of the founders of the organic and regenerative agriculture movements. A researcher, inventor, scientist and professor at Tuskegee University, Carver was among the first to spread the word about caring for soil and community, inspiring a generation of organic farmers in the late 1800s and early 1900s, writes Leah Penniman in Civil Eats. Penniman is Co-director and Program Manager at Soul Fire Farm in Petersburg, NY, a community organization that serves more than 10,000 people each year with food justice initiatives, farm training for BIPOC growers and more. Through “Afro-Indigenous” farming and forestry practices, Soul Fire has been regenerating 80 acres of land, while providing training, workshops and mentorship to underserved communities. “My ancestral grandmothers in West Africa braided seeds of okra, molokhia, and levant cotton into their hair before being forced to board Transatlantic slave ships. They hid sesame, black-eyed peas, rice, and melon seeds in their locks,” writes Penniman. “With the seed, our grandmothers also braided their eco-systemic and cultural knowledge. They braided the wisdom of sharing land, labor, and wealth.” However, Penniman notes, Black farmers once owned 16 million acres of land in the U.S. after emancipation, yet “almost all of that land is now gone,” she said. “In 2010, Soul Fire Farm was born with a mission to reclaim our ancestral belonging to land and to end racism and exploitation in the food system. What began as a small family farm is now a community organization committed to this systemic and ancestral change. And we pray that the words from our mouths, the meditations in our hearts, and the work of our hands are all acceptable to our grandmothers who passed us these seeds.”

USDA Secretary: Creating Equitable Opportunities for Black Farmers Lifts All Boats
Provisions of the recently enacted American Rescue Plan that seek to acknowledge and address systemic racism perpetuated against generations of Black farmers will benefit the entire agriculture sector, U.S. Secretary of Agriculture Tom Vilsack told stakeholders at a House Agriculture Committee hearing held in late March. President Biden’s $1.9 trillion Covid-19 relief plan earmarked nearly $5 billion for black farmers impacted by decades of discrimination made worse by the pandemic, NBC Washington reported. “Creating more equitable opportunities for Black farmers is a rising tide that can lift all boats,” Vilsack said at the hearing, Food Navigator-USA reported. “As one study found closing racial gaps in wages, housing credit, lending opportunities, and access to higher education would amount to an additional $5 trillion in gross domestic product and six million jobs to the American economy over the next five years,” Vilsack said in defense of “socially disadvantaged farmer provisions in the American Rescue Plan,” that have come under fire by some legislators and critics of the plan. “While Black farmers receive about $60 million in annual commodity subsidies, white farmers annually receive about $10 billion in commodity subsidies,” Vilsack said. He also noted that 97% of coronavirus food assistance payments went to white farmers, Food Navigator-USA reported. “More need to be done to drive our efforts deeper,” Vilsack told the House Agriculture Committee. He emphasized the necessity to “make clear that prosperous farmers of color means a prosperous agriculture sector and a prosperous America.”

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