CPG update: Kellogg's China JV, ConAgra on innovation, Hostess's union standoff and Hershey’s new choc factory
Moving onto some other big guns in the US grocery market, ConAgra, Campbell Soup and JM Smucker all published quarterly results, while Kellogg struck a deal in China, Hostess tried to force union bosses to accept its latest offer and Coke launched a new range of water flavor enhancers under its Dasani brand.
Kellogg looked to China: Kellogg-Wilmar JV should target China's $13bn snack sector, not cereal: Analysts
General Mills talked up cereals, highlighted growth in protein bars: Don’t write off the US ready-to-eat cereals category, says General Mills
General Mills: New Nature Valley protein bars will be as big as Fiber One brownies in year one
Campbell admitted its turnaround was “taking us longer than we anticipated”: Campbell Soup CEO: ‘The pace of our progress needs to accelerate’ but put its money where its mouth is with the launch of a $30m innovation center at its Pepperidge Farm HQ: Campbell Soup opens $30m innovation center at Pepperidge Farm HQ in Connecticut
ConAgra predicted a steady rebound in the frozen case as new products gain traction: ConAgra Foods: ‘We believe in frozen, we have an innovation machine’
Hostess sought a legal means to force members of the BCTGM union to accept a deal they had rejected by an overwhelming majority, or said it would have no choice but to liquidate the company: Hostess seeks to impose bankruptcy-exit deal in court after union rejects ‘outrageously unfair’ final offer
Meanwhile, Hershey opened its expanded chocolate factory in West Hershey, PA, unveiling “technology never before used in the manufacture of confectionery”… Hershey opens doors at the ‘world’s most technologically advanced’ choc factory
PepsiCo announced plans to pump $38m on a new high-tech warehouse distribution system for its Frito-Lay factory and distribution center in Killingly, Connecticut: PepsiCo pumps $38m into Frito-Lay plant in Connecticut
Coke launched a new range of water flavor enhancers under its Dasani brand: Coke takes first steps in bold new US beverage world
Snyder’s Lance snapped up Snack Factory: Snyder’s Lance gains innovation and retail entry points via Snack Factory
And finally, Jif peanut butter to Folgers coffee maker JM Smucker revealed that K-cups have added almost $180m to its top line in just two years from a standing start: JM Smucker on the rise and rise of the K-cup