Corporate Ops
Leftovers: Hershey’s fills up on fillings | Red Baron brings new spark to microwave pizza
Hershey introduces a new line of filled chocolate bars, Red Baron launches microwaveable shareable pizzas, and Monster's Flrt brand debuts its first fall limited-edition flavors.
Food Dive Trendline on Top 5 stories from Food Dive
As the use of GLP-1 weight-loss drugs rises, food companies face sales pressure and are beginning to launch smaller portions and high-protein, high-fiber products. General Mills, Nestlé, Danone, and others have already positioned themselves, but the industry remains divided on the drugs' long-term impact.
Kraft Heinz invests $30M in Jet-Puffed plant
Kraft Heinz will invest $30 million to renovate its Kendallville, Indiana plant, the exclusive manufacturing site for Jet-Puffed marshmallows and Kraft Caramels. The investment will be used to optimize production lines and aligns with the company's previously announced $3 billion U.S. manufacturing expansion plan.
Younger shoppers are driving private label adoption, report finds
Research released by Spins on Tuesday shows that in the 52 weeks ending June 14, Gen Z and millennials together contributed 81% of the year-over-year increase in private label spending. Gen Z accounted for 43%, millennials 38%, and Gen X 19%. The report notes that future private label growth will increasingly depend on young consumers and recommends that retailers expand in categories with high penetration but low private label share, such as energy drinks, carbonated beverages, juice, pizza, and cold cereal.
Ben & Jerry’s adds three board members to boost social mission
Ice cream brand Ben & Jerry's announced on Wednesday the addition of three independent directors, aiming to restructure its governance and reinforce its social mission. The new directors bring experience in environmental justice, civil rights, and economic equity, and the appointments come amid ongoing governance disputes with parent company Unilever and the spun-off Magnum ice cream company.
Sazerac Enters Fast-Growing Soju Segment with Dalho Launch
Sazerac, the owner of Buffalo Trace and Fireball, is expanding into soju with the launch of Dalho, a Korean grain spirit available in original, peach, strawberry, and lychee flavors. The brand debuts with a 50-milliliter bottle—a first for the category—to lower the barrier for first-time consumers. The move follows Sazerac's recent acquisitions of Dirty Shirley, a stake in 818 Tequila, and Au Vodka, as it diversifies amid shifting spirits trends.
Zevia Activist Investor Urges Sale of Better-For-You Soda Maker
Activist investor Kanen Wealth Management is pressing Zevia, a better-for-you soda brand, to explore a sale. Kanen argues that Zevia has failed to capitalize on the modern soda boom, with sales declining despite significant spending. Zevia's board says it will engage constructively with shareholders.
Diageo Cuts Nearly 2,000 Jobs in Restructuring, Annual Report Shows
Diageo disclosed in its annual report that it reduced its global workforce by nearly 2,000 positions, a drop of more than 6%, as part of a restructuring plan to return the spirits and beer maker to growth. The company also announced several executive leadership changes under new CEO Dave Lewis.
Olipop names Electrolit CEO Christian Patiño Webb as next chief executive
Olipop has named Christian Patiño Webb, currently CEO of Electrolit, as its next chief executive, effective later this month. Founder Ben Goodwin will move into a research and strategy position, the company announced via LinkedIn on Tuesday. The leadership change comes as Olipop faces intensifying competition in the functional soda segment and seeks to scale past the half-billion-dollar sales milestone it reached last year.