Big Food Bets Small: Leading Food Corporates Amp Up Startup Bets
General Mills has focused its VC investments on new product lines, while Campbell’s investment arm has focused more on tech.
On April 20, Unilever announced it would acquire condiments startup Sir Kensington’s, adding the brand’s vegan mayonnaise and other products to Unilever’s product lineup. The deal highlights a trend toward increased private market activity in food & beverage, as global food leaders aim to tie themselves to the smaller companies that could potentially erode their market share. In fact, $18B of large packaged goods sales in the US shifted from large companies to smaller players between 2011 to 2015, according to the Boston Consulting Group. READ MORE