Hormel Foods Corp. CEO James Snee has revealed the parameters that the company is considering for its next target acquisition, and said the firm is seeking brands that are at the top of their categories, which could include international and foodservice businesses. "Our balance sheet is pristine, and so we do have the capacity to do a multibillion dollar deal," he said.
Germany's Haribo aims to continue its US market growth by investing $242 million to build the firm's first North American facility in Pleasant Prairie, Wis. The gummy bear maker expects to open the new candy production plant in 2020.
Conagra Brands will bring two new frozen food lines to grocers this summer with the debut of Frontera Foods' skillet meals and single-serving bowls, as well as Healthy Choice's new Power Bowls. Conagra Brands acquired Frontera last year, and it may eventually expand the chef-driven brand into other categories, said Conagra CEO Sean Connolly.
CPG brands that aim for a bigger share of the millennial market should maximize their use of digital media because millennial consumers are frequently online. In addition, brands should feature themes of nostalgia in their messaging, ask for consumer input, spotlight their values and be succinct, writes Meghan Johnson.
The news that ALDI plans to debut a new logo resonated with SmartBrief readers this week, and a story about ALDI and Lidl's potential to shake up the grocery industry was also popular. Frito-Lay's debut of its Lay's Poppables line, rising sales at Annie's Homegrown and Kraft Heinz's sustainability investments were also among the week's top 10 stories.
Voortman cookies are on shelves at 30,000 retail outlets, but until recently, the company didn't have a strong marketing focus. That is changing as Voortman launches a rebranding effort that includes new products and packaging, as well as a presence on social channels such as Instagram and Twitter.
After winning a coveted advertising slot during the 2016 Super Bowl, Death Wish Coffee saw sales soar from $3 million to $20 million. "In 30 seconds, we tripled in size," said Operations Manager John Swedish.
Wegmans Food Markets will open stores in northern New Jersey in July and September as it continues construction of a store in Brooklyn, N.Y., which is expected to open next year and will be Wegmans' first location in New York City. The new stores are part of a bigger expansion for the retailer, which will add about 10 more stores in the six states where it currently operates and in North Carolina, a new market for Wegmans.
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An increasing number of produce manufacturers are using new packaging formats to share ingredient and food safety information with consumers, which some brands are conveying via labeling platforms such as SmartLabel. "We anticipate a lot of brands will look to this and other smart packaging technology to satisfy new requirements for GMO labeling and nutrition facts panel changes," said Angela Fernandez of data firm GS1 US regarding SmartLabel's potential.