Food Transparency Research

Know who
actually owns
your food.

Most grocery brands look independent. Many aren't. Traced maps corporate ownership webs, investigates what's really inside the packaging, and connects you to local makers who exist outside that system.

Traced in one glance
PARENT OWNER controls the portfolio "INDIE" BRAND Acquired 2014 "CLEAN" BRAND Same parent "PREMIUM" BRAND Same parent Traced makes this visible in 20 seconds.
Annie's, Lärabar, Cascadian Farm — three different shelves, different aesthetics. One owner: General Mills.
Ownership Intelligence

The portfolios behind familiar brands

Four companies control more grocery shelf space than most people realize. Click any card to explore the full ownership web — every brand they own, what changed after acquisition, and how they obscure it.

10
companies own roughly 80% of US grocery brand revenue
$820M
General Mills paid for Annie's in 2014 — brand kept its "homegrown" identity
47
brands traced so far across Traced's investigation database
See full brand investigations →
Ownership Intelligence

Private Equity in Your Grocery Aisle

Unlike Kellogg's or Nestlé, these firms don't make food — they invest in brands, scale them, and exit. The brand stays. The ownership changes. Most consumers never know it happened.

01
The Playbook

A founder builds a brand with genuine values. PE firm invests at growth stage — providing capital for distribution and marketing. The brand scales rapidly. Then either: (a) the PE firm sells to a conglomerate, or (b) holds and quietly optimizes margins.

02
The Warning Signs

PE investment is not inherently bad — but it's a leading indicator. Watch for: rapid SKU expansion, reduced ingredient quality, "family of brands" language appearing on packaging, sudden distribution into mass-market chains.

03
What You Won't See

PE ownership is rarely disclosed on packaging. The brand's website still features the founder's story. The Instagram still posts farmer photos. The ingredient list may not change — yet. The financial relationship already has.

Food-Specialist PE · Los Angeles
Butterfly Equity
$4B+ AUM · Founded 2016
Brands you've seen at Whole Foods, Target, Sprouts
Chosen Foods avocado oil, mayo, dressings
Orgain organic protein shakes — sold majority to Nestlé Health Science
Pete & Gerry's Organics pasture-raised eggs
Health-Ade Kombucha refrigerated section staple
Evolution Fresh cold-pressed juices — acquired from Starbucks
Bolthouse Farms carrots, protein drinks, dressings
The pattern to watch Butterfly specializes in food exclusively — they know the sector deeply. But their model is acquire → scale → exit. Orgain, one of their most "authentic" organic nutrition brands, already had its majority stake sold to Nestlé Health Science. Bolthouse was split into two companies to maximize separate exit value.
Consumer PE · Backed by LVMH / Bernard Arnault
L Catterton
$37B AUM · Founded 1989
Brands positioned as independent or "better-for-you"
Kodiak Cakes protein pancake mix, whole grain — Shark Tank origin story
Good Culture clean-label cottage cheese — $500M+ deal Jan 2026
Kettle Brand Chips "natural" kettle chips — previously also owned by Campbell's
Cholula Hot Sauce later sold to McCormick & Co. for $800M
Thorne Research premium supplements
Kettle Cuisine refrigerated soups, foodservice
The detail most people miss L Catterton is backed by LVMH and Bernard Arnault — the world's largest luxury goods conglomerate. The same capital structure behind Louis Vuitton, Moët Hennessy, and Sephora is backing Kodiak Cakes and Good Culture's "clean label" positioning. The firms operate separately, but the financial lineage is the same.
Global PE / Alternative Assets · New York
KKR (via Upfield)
$553B AUM · Founded 1976
Brands you might not realize are PE-owned
Country Crock plant-based butters and spreads
I Can't Believe It's Not Butter formerly Unilever — $8B buyout in 2017
Flora plant-based spreads, marketed as "heart healthy"
Becel / Pro-Activ cholesterol-reducing spreads, sold in 60+ countries
The Upfield story KKR bought Unilever's entire spreads division for $8 billion in 2017, rebranded it as Upfield, and positioned it as a "plant-based" company. Country Crock Plant Butter launched under this structure — marketed with sustainability and health language while owned by one of the largest leveraged buyout firms in history. KKR's food portfolio also includes Nature's Bounty vitamins and historically RJR Nabisco.
VC-Backed Brand · Austin, TX → Lancaster, PA
Kettle & Fire
$43M raised March 2025 · Colter Ventures
Same brand name. Very different product. Per 1 cup:
Classic Chicken Bone Broth flagship — ~40 cal · ~0g fat · 0g sat fat · ~9.5g protein · 3 ingredients
Coconut Curry & Lime Bone Broth new line — 190 cal · 15g fat · 13g sat fat (65% DV) · 12g protein · 521mg sodium
By the numbers · per cup
Flagship
Coconut Curry Lime
Calories: ~40
Calories: 190 (4.75×)
Total Fat: ~0g
Total Fat: 15g
Sat. Fat: 0g
Sat. Fat: 13g — 65% DV
Protein: ~9.5g
Protein: 12g
Sodium: ~310mg
Sodium: 521mg
What to watch here The original bone broth is genuinely well-sourced and nutritionally clean. The new Coconut Curry & Lime line carries identical branding but is a fundamentally different product — 69% of calories from fat, 65% of the daily saturated fat limit in a single cup. Kettle & Fire markets it as “the only bone broth in the world that contains fat.” The $43M Colter Ventures round (March 2025) bought out early investors, installed a new CEO, and is explicitly funding line expansion. The flagship is fine. Read the label on each SKU individually.
Latest Investigation

Meat & Seafood

Read full investigation →
Featured Investigation Meat & Seafood · 4 chapters

The Counter Doesn't Know Where It Came From

Grocery store meat and fish labeling has three overlapping problems: origin claims that mean less than they sound, quality terms with no federal definition, and a supply chain so fragmented that even the retailer often can't trace it. We went through the regulatory history, the Oceana fraud data, and the USDA loopholes — chapter by chapter.

Country of origin labeling Grass-fed vs. grass-finished 43% salmon mislabeling rate Supply chain opacity Local butchers & fishmongers
43%
of salmon samples mislabeled in Oceana study
2016
Congress repealed mandatory beef origin labeling
4
companies process ~85% of all US beef
Read the investigation →
From exposure to action
Now find what exists outside that system.

Every corporate ownership story on Traced leads to real independent alternatives — farmers markets, specialty makers, and local shops with genuine sourcing transparency near you.

Independent Discovery

Start with a ZIP. Find what's real.

Farmers markets, specialty makers, and independent shops — each listed with a specific sourcing reason, not just an address.

Ferry Plaza Farmers Market
0.8 mi
1 Ferry Building, SF · Sat 8am–2pm · Tue & Thu 10am–2pm · CalFresh EBT
Traced note: 100+ producers including certified organic farms, direct-trade cacao vendors, and independently owned cheese makers. Most of what's sold here bypasses national distribution entirely.
Farmers market CUESA-operated EBT accepted Year-round
Details →
Dandelion Chocolate
1.4 mi
740 Valencia St, Mission · Factory + Café · Mon–Sun
Specialty maker Bean-to-bar SF-founded Factory tours open
Details →
Hours: Daily 10am–9pm (factory tours: check site)
Why it's here: Publishes full sourcing reports. Cacao origins traceable to individual farms. Zero mass-distribution infrastructure — all direct.
Related investigation: Chocolate Index — compare to Hershey, Mondelēz, Nestlé.
Bi-Rite Market
1.6 mi
3639 18th St, Mission · Independent grocery · Daily
Traced note: Family-owned since 1964, B Corp certified, staff-curated sourcing. Actively refuses products it can't source transparently — a direct counterpoint to the national distribution model Traced investigates across protein bars, supplements, and packaged goods.
Independent shop B Corp Family-owned Curated sourcing
Details →
Hours: Daily 9am–9pm
Why it's here: Not a Whole Foods alternative — a genuine independent. Owner-operated, no investor extraction. Every product on shelf was chosen by a person with a name, not an algorithm.
Rainbow Grocery Co-op
1.9 mi
1745 Folsom St, Mission · Worker-owned co-op · Daily 9am–9pm
Traced note: Worker-owned since 1975. No private equity, no acquisition risk, no investor extraction. Decision-making is collective — structurally immune to the ownership changes Traced documents in brands like Annie's, RXBar, and Sweet Earth.
Worker co-op Independent Since 1975 No corporate investors
Details →
Hours: Daily 9am–9pm
Why it's here: Structurally can't be acquired. Worker ownership means no exit incentive. Stock heavily weighted toward independent and small-batch producers.
Mission Community Market
2.2 mi
Bartlett St & 21st, Mission · Thu 3pm–7pm (Mar–Nov) · CalFresh EBT + Market Match
Traced note: Also operated by Foodwise. Thursday evening market in the Mission. EBT and Market Match accepted — doubles purchasing power for produce. Vendor-direct, no national distribution.
Farmers market EBT + WIC Market Match 40+ vendors
Guerra Quality Meats
Outer Sunset
490 Taraval St, Outer Sunset · Mon–Fri 9am–7pm · Sat–Sun 9am–6pm
Traced note: Family-owned since 1954. Robert and John Guerra are the second generation on Taraval Street. Full-service butcher, housemade deli — no chain ownership, no private equity, no acquisition risk.
Baron's Quality Meats & Seafood
Noe Valley
1706 Church St, Noe Valley · Mon–Fri 12pm–7pm · Sat–Sun 11am–7pm
Traced note: Opened in SF in 2016 by Niman Ranch alum David Samiljan. No hormones, no antibiotics, humanely raised — sourcing is posted and verifiable. The opposite of the commodity meat supply chain.
Billingsgate
Noe Valley
3859 24th St, Noe Valley · Mon–Fri 10am–7pm · Sat 9am–7pm · Sun 10am–7pm
Traced note: Founded by two chefs who ran wholesale fish company Four Star Seafood before opening retail. Direct relationships with California fishermen — the supply chain is their background, not a marketing claim.
No vendors match this filter in this city yet. Know one? List them →
Nearby (demo)
FM
MK
SH
CO
FM
Highlights
Ferry Plaza FM0.8 mi
Dandelion Chocolate1.4 mi
Bi-Rite Market1.6 mi
Rainbow Grocery1.9 mi
Civic Center FM2.2 mi
What "Traced note" means

Each vendor is listed with a specific why-it-belongs-here explanation relative to the brands we investigate — not just a directory entry.

Traced Indexes

Category transparency research

Every index scores brands across ownership, ingredient integrity, certifications, and labor record. Sortable, filterable, expandable.

Index · Live
Protein Supplements
Ownership networks, heavy metal disclosures, influencer economics, and transparency scoring. 28 brands, 7-dimension methodology.
28 brands tracedUpdated Feb 2025
Index · Live
Protein Bars
Celebrity investment, private equity roll-ups, and ingredient positioning across performance snack brands. Includes the David deep trace.
12 brands tracedUpdated Jan 2025
Index · Live
Chocolate
Ethical sourcing claims, conglomerate ownership, child labor audit records, and the bean-to-bar transparency gap.
11 brands tracedUpdated Jan 2025
Index · Live
Greens Powders
Proprietary blend opacity, influencer incentives, and what "clinically studied" actually means on a greens powder label.
8 brands tracedUpdated Dec 2024
Index · Coming soon
Olive Oil
Harvest date opacity, single-estate vs. blend labeling, and why origin claims in olive oil are uniquely difficult to verify.
In research
Index · Coming soon
Coffee
The JAB Holding empire, direct-trade claims, and the difference between Rainforest Alliance and genuine farmer transparency.
In research
Index · Coming soon
Dairy & Eggs
Supply chain traceability, pasture-raised vs. cage-free certification gaps, and who actually owns "happy farm" brands.
In research
Index · Coming soon
Electrolytes
Hydration brands, VC backing, and whether the "clean electrolyte" category lives up to its ingredient transparency claims.
In research
For independent vendors

Your sourcing story
deserves to be found.

Every day Traced users read about what a corporate brand isn't — then immediately want to know what's near them instead. If you're an independent maker, market, or shop with a real sourcing story, you belong in this network.

A Traced-vetted vendor profile — not a directory listing. We write the "why it belongs here" context for you, tied to specific brand investigations.
Appear in category-specific local discovery — when someone reads our chocolate investigation, they find your chocolate shop.
Free during founding period. No affiliate swaps, no sponsored rankings. Independence is the product.
Your own vendor profile page on Traced — shareable, searchable, and linked from every relevant investigation.
Get listed on Traced
We review every application. Responds within 5 business days.
Nearby (demo)
FM
MK
SH
CO
FM
Highlights
Ferry Plaza FM0.8 mi
Dandelion Chocolate1.4 mi
Bi-Rite Market1.6 mi
Rainbow Grocery1.9 mi
Civic Center FM2.2 mi
What "Traced note" means

Each vendor is listed with a specific why-it-belongs-here explanation relative to the brands we investigate — not just a directory entry.

Traced Stories

Investigations you can finish in 60 seconds

Fast scan first. Expand for receipts. Every story links to owner webs, category indexes, and local alternatives.

Browse all indexes →
Traced Indexes

Category transparency research

Every index scores brands across ownership, ingredient integrity, certifications, and labor record. Sortable, filterable, expandable.

Index · Live
Protein Supplements
Ownership networks, heavy metal disclosures, influencer economics, and transparency scoring. 28 brands, 7-dimension methodology.
28 brands tracedUpdated Feb 2025
Index · Live
Protein Bars
Celebrity investment, private equity roll-ups, and ingredient positioning across performance snack brands. Includes the David deep trace.
12 brands tracedUpdated Jan 2025
Index · Live
Chocolate
Ethical sourcing claims, conglomerate ownership, child labor audit records, and the bean-to-bar transparency gap.
11 brands tracedUpdated Jan 2025
Index · Live
Greens Powders
Proprietary blend opacity, influencer incentives, and what "clinically studied" actually means on a greens powder label.
8 brands tracedUpdated Dec 2024
Index · Coming soon
Olive Oil
Harvest date opacity, single-estate vs. blend labeling, and why origin claims in olive oil are uniquely difficult to verify.
In research
Index · Coming soon
Coffee
The JAB Holding empire, direct-trade claims, and the difference between Rainforest Alliance and genuine farmer transparency.
In research
Index · Coming soon
Dairy & Eggs
Supply chain traceability, pasture-raised vs. cage-free certification gaps, and who actually owns "happy farm" brands.
In research
Index · Coming soon
Electrolytes
Hydration brands, VC backing, and whether the "clean electrolyte" category lives up to its ingredient transparency claims.
In research
For independent vendors

Your sourcing story
deserves to be found.

Every day Traced users read about what a corporate brand isn't — then immediately want to know what's near them instead. If you're an independent maker, market, or shop with a real sourcing story, you belong in this network.

A Traced-vetted vendor profile — not a directory listing. We write the "why it belongs here" context for you, tied to specific brand investigations.
Appear in category-specific local discovery — when someone reads our chocolate investigation, they find your chocolate shop.
Free during founding period. No affiliate swaps, no sponsored rankings. Independence is the product.
Your own vendor profile page on Traced — shareable, searchable, and linked from every relevant investigation.
Get listed on Traced
We review every application. Responds within 5 business days.