💡 Earnings Insights: Campbell’s and Smucker’s

It’s earnings season, folks! That means we’re bringing you the most relevant information from the balance sheets of CPG giants. Here’s just a taste of what you need to know: 

The Campbell Soup Company posted solid Q3 earnings, reported yesterday, largely driven by the company’s acquisition and ongoing integration of Sovos Brands. Net sales grew 6% to $2.4 billion, surpassing analysts’ projections. 

Nosh Insiders can access the full report, along with insights from the balance sheets of other top conglomerates like J.M. Smucker's and distributors such as UNFI. Join us for all of the info.

The indoor farming space is undoubtedly contributing to the rise of branded produce in grocery, and two companies announced significant gains this week that could make their brands even bigger.   

🌱 Soli Organic opened its “most technologically advanced facility yet” in San Antonio’s Brooks neighborhood this week, spanning 140,000 sq. ft. The facility includes 100,000 sq. ft of production space and six vertical layers of growing capacity as well as 40,000 sq. ft. for processing and packing.

• The new facility will create over 100 jobs and can grow the brand’s leafy greens and herbs with 90% less water and 1/100th of the land used by traditional farms, Soli claims. 

🍓 Ultra-premium strawberry grower Oishi also opened a new facility, spanning 237,500 sq. ft. in Phillipsburg, N.J., this week. The indoor vertical is run on renewable energy from a 50-acre solar field adjacent to the facility.  

• The Amatelas Farm has already created 100 jobs in the area and will enable the brand to grow 20 times more berries than it could at its previous facility.

The CPG Week team pulled out their legal pads and took seats in the gallery this week to discuss some of the courtroom drama brewing in the industry recently. 

⚔️ Senior reporter Brad Avery kicks off the case docket discussing developments in the long-fermenting family power struggle at Lifeway Foods.

🥤 Nosh managing editor Monica Watrous cracks open the can on Poppi’s class-action suit claiming its gut-friendly claims are unfounded.

❌ Finally, the team wades into a case out of the U.S. District Court of Northern Georgia claiming that General Mills allowed a racist and discriminatory workplace in one of its manufacturing facilities for over two decades.

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• How one club chain is now tapping consumers to steer its private label development
• Details on the latest celebrity coffee brand launch

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