Dive Brief:
Pancake maker Kodiak Cakes is being acquired by private equity firm L Catterton for an undisclosed amount, the companies said in a statement.
Kodiak has expanded into waffle mixes, frozen waffles, oatmeal, baking mixes and a variety of snacking products. Its better-for-you offerings are currently sold in 26,000 retail locations, including Target, Walmart and Costco.
The sale comes as the pandemic has increased consumer demand for healthier products. At the same time, people are spending more time at home making food, with breakfast among the biggest beneficiaries.
Dive Insight:
Kodiak began when eight-year-old Joel Clark began selling his family s hand-milled flapjack mix door to door from a little red wagon. Today, the fast-growing Kodiak s revenue has increased more than 50 times since 2013 when the brand appeared on the television program Shark Tank.
How Perdue and Mercy For Animals found common ground
The journey from adversaries to allies required conversation and compromise and often caused tension, but ultimately proved rewarding, write Perdue s Mark McKay and Mercy for Animals Leah Garcés. Published May 24, 2021 Courtesy of Perdue
The following is a guest post from Mark McKay, president of Perdue Premium Poultry and Meats, and Leah Garcés, president of Mercy For Animals.
If you had told us years ago that we would be writing this together –– a president of one of the largest chicken companies and the president of one of the largest animal rights groups –– we would have been incredulous. Historically, meat companies and animal rights organizations have been more foe than friend. This is certainly how the relationship began between Perdue and Mercy For Animals.