Kellogg this week announced the first investment through its VC fund Eighteen94. In Europe, Ireland announced record food exports but the data outlined the impact of the UK’s vote for Brexit. And, in Asia, we interviewed the co-founder and MD of fast-growing Indian FMCG company Patanjali Ayurved.
“We’re backing a new superfood category, one in which we see the potential for ongoing high-growth” – Simon Burton, the managing director of Kellogg’s VC fund Eighteen94 on the company’s first investment, through which the cereal giant has backed US plant food business Kuli Kuli.
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“The 2016 export figures illustrate clearly the importance of collaborative action by government, its agencies and the industry, and the potential for pro-active effort on international markets to mitigate the risks associated with these challenges” – Michael Creed, Ireland’s Minister for Agriculture, Food and the Marine, says last year’s export data shows the country needs to work to offset the impact of Brexit on its food industry.
“Our target is to keep doubling [the sales] and reach $15bn by 2020” – in an interview with just-food, Patanjali Ayurved managing director Acharya Balkrishna sets out the rapidly-expanding Indian FMCG company’s goal for top-line growth.
“Millennials continue to choose organic snack alternatives over existing legacy offerings. Yet there are limited better-for-you snack products for 2-12 year olds, leaving millennial mums with a major vacuum to deal with once their children graduate from organic baby food” – Steve Hughes, the former Boulder Brands CEO, explains why his Sunrise Strategic Partners fund has invested in Pure Growth Organic, a US company marketing organic snacks aimed at children.
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“The UK and EU markets represent a multi-million pound opportunity for us to capitalise on this growing consumer trend of people who love to make fresh wholesome food at home” – Brian Dewar, EasiYo’s CEO, on the decision of the New Zealand make-at-home yogurt business to team up with Irish dairy group Ornua to produce yogurt mixes in the UK.
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