Hu Products announces Series A funding led by Sonoma Brands and strategic partners
The chocolate brand that grew out of the paleo-inspired New York fast-casual restaurant Hu Kitchen is ready to grow with funding from Sonoma Brands, a food and beverage venture fund and incubator led by Jon Sebastiani, plus other investors including Dr. Mark Hyman and author Tim Ferriss. Hu Chocolate uses organic, fair trade cacao to make vegan chocolate bars with add-ins like puffed quinoa, hazelnut butter and banana. With the funding, Hu plans to grow distribution and “bolster our platform as a mission-driven health and wellness business,” according to co-founder Jason Karp. Hu joins Krave Jerky, Smashmallow, Dang Foods and Zupa Noma in the Sonoma Brands portfolio. Read more at BusinessWire...
Frozen food is making an unlikely comeback
The volume of frozen food sold in U.S. stores is growing for the first time in five years, according to RBC Capital Markets and Euromonitor, thanks in large part to convenience-hungry millennials and vegan shoppers. Frozen veggie sales have been especially strong, according to Nielsen. The frozen resurgence has sparked talk of consolidation; Conagra reportedly has an eye on Pinnacle, maker of Gardein and Evol products, among others. Read more at Bloomberg…
The online grocer Good Eggs almost went bankrupt—but now a $50 million investment from Silicon Valley bigwig Bill Gurley has given it new life
The venture firm Benchmark has breathed new life into Good Eggs, the Bay Area grocery delivery company that nearly went out of business in 2015. After laying off staff and closing down in three of its four markets, Good Eggs brought in a new CEO and raised $15 million, and has since focused on scaling slowly. Read more at Recode…
Amazon’s checkout-free Amazon Go stores coming to San Francisco and Chicago
A year after the first Go store opened in Seattle, Amazon is planning to open two more teach-heavy stores with its Just Walk Out experience. Read more at USA Today…
More details on Sunflower Natural Foods’ expansion plans
The natural food store in Hudson Valley, New York, is ready to expand into a former Rite Aid space with a bigger produce section and new coffee and juice bars. Read more at Hudson Valley One…
