Wisdom Natural Brands acquires Drizzle Honey in strategic expansion move

Wisdom Natural Brands Acquires Drizzle Honey in Strategic Expansion Move

Wisdom Natural Brands, headquartered in Arizona and renowned for its SweetLeaf sugar substitutes, has expanded its product portfolio by acquiring Canadian company Drizzle Honey. Although the financial terms of the acquisition remain undisclosed, the move is strategically significant for both parties.

Drizzle Honey, founded in 2015 by former environmental scientist Aja Horsley, is a distinguished provider of sustainably sourced raw and superfood honey. The company originated from an innovative rooftop beekeeping project and has since established a presence with its products in 1,200 Canadian retail stores as well as through its digital sales platform. Drizzle Honey has also achieved Certified B Corporation status and contributes 1% of its profits to initiatives focused on pollinator research and protection.

With this acquisition, Drizzle Honey gains a foothold in the U.S. market, leveraging Wisdom Natural Brands’ expansive distribution network which includes more than 11,000 locations across the U.S., covering major retailers such as Whole Foods, Kroger, and Amazon. For Wisdom Natural Brands, the acquisition brings a complementary product line that broadens its range of natural sweeteners and aligns with the company’s sustainability ethos. CEO Michael May commented that the honey products fit perfectly into their strategy of offering natural and health-conscious sweetening options.

Freshpet Raises Financial Projections Following Robust Revenue Growth

Freshpet, a Nasdaq-listed company specialising in premium refrigerated pet food, has once again upgraded its financial outlook for 2024. The company anticipates a commendable 27% growth in full-year sales, now projected at approximately $975 million, following a strong third-quarter performance that saw revenues increase by 26.3% to $253.4 million. Freshpet’s CEO, Billy Cyr, emphasised the firm’s consistent growth trajectory, marking the 25th consecutive quarter of surpassing the 25% sales growth target. Adjusted EBITDA has been upgraded to at least $155 million, reflecting continued confidence in Freshpet’s strategies as it aims for $1.8 billion in sales by 2027.

Premier FMCG’s Workforce Strike Resolution in South Africa

A strike at Premier FMCG’s Mister Sweet factory in Wadeville, Germiston has concluded following a new pay agreement. The strike, which began on 19 August, saw 385 of 602 employees demanding improved wages and conditions. While initial efforts to negotiate through the Simunye Workers Forum (SWF) were unsuccessful due to lack of official recognition, a resolution was eventually reached on 1 November. The agreement outlines incremental pay increases over the next three years. The resolution paves the way for workers to return on 11 November, with the company keen to reintegrate its workforce while emphasizing business continuity and safety.

Nurture Brands Sells Doisy & Dam to Food Thoughts

Nurture Brands has divested its vegan confectionery line, Doisy & Dam, selling it to Food Thoughts, an ethical organic ingredients business based in Reading, Berkshire. This sale follows the recent disposal of Indie Bay Snacks and is part of Nurture Brands’ strategy to concentrate on its core product lines including Emily crisps, Rebel Kitchen, and Jax Coco coconut water. Financial specifics of the deal were not disclosed. Food Thoughts, owned by Fairtrade Ltd., aims to incorporate Doisy & Dam into its portfolio, enhancing its offerings in the ethical and plant-based snack market.

Danone Partners with Maersk to Reduce Ocean Freight Emissions

French multinational Danone has entered into a partnership with shipping giant Maersk to reduce greenhouse gas emissions from its ocean freight activities. The collaboration will utilise Maersk’s ECO Delivery Ocean service which uses reduced-emission fuels like biodiesel and bio-methanol. This initiative supports Danone’s broader goal to achieve net zero carbon emissions by 2050, aligning with global decarbonisation targets. The partnership also extends to integrate inland transport solutions, aiming for seamless logistics operations within Danone’s supply chain.

South Mill Champs Enters Alliance with Mountain View Mushrooms

To meet escalating demand in the American south-west, US-based South Mill Champs (SMC) has allied with Mountain View Mushrooms (MVM). This collaboration will see SMC establishing a stable supply chain for mushrooms and managing MVM’s packing facilities. Mike Pia Jr., SMC’s VP of business growth, expressed that the partnership would enhance their distribution capacities across key states such as Utah, Nevada, and California. This development comes as part of SMC’s strategic efforts to increase its market presence and operational capabilities within the fresh produce sector.

Source: Noah Wire Services