Coca-Cola must boost its market share in noncarbonated segments like sports drinks, energy drinks, bottled water, dairy and ready-to-drink tea and coffee, said incoming CEO James Quincey. "The company needs to be bigger than the core brand," said Quincey, who also stressed the need to update products and packaging frequently and to cut sugar in compliance with World Health Organization guidelines.
The Hershey Co. has appointed Unilever vet Todd Tillemans as its new US president, while Steven Schiller has been named president of the company's international unit. The new appointments come along with other executive changes in advance of Michele Buck's March 1 ascension to the CEO role.
The e-commerce market for food and beverage could hit $66 billion by 2021, with a compound annual growth rate of 38%, said Campbell Soup CEO Denise Morrison. The company will capitalize on that opportunity by developing an e-commerce platform including delivery, connected kitchens, personalized meal delivery and other features, she said.
Some 94% of Americans snack at least once daily, led by millennial consumers, who are influencing other demographics as well. CPG snack manufacturers must understand this "millennial mindset," which accounts for almost 30% of brand preference, writes Jeff Fromm.
AQUAhydrate has doubled its distribution over the past year and a half to 60,000 sales channels as the premium pH water market grows. "Just over the last few months we've noticed that a lot of the traditional grocery and mass channels are taking premium pH water out of their specialty sections and bringing them into the traditional sets, so everyday consumers are seeing these products," said CMO Ericka Pittman.
Coffee roaster and dealer Coffee Holding Co. has acquired Comfort Foods Inc., the parent brand of coffee business Harmony Bay. "We are excited to bring Comfort Foods and its Harmony Bay brand coffee into our already diverse portfolio of strong regional retail coffee brands," said Coffee Holding CEO Andrew Gordon following the $2.3 million deal.
Ulker Biskuvi Sanayi A.S. is working to acquire rights to McVitie's products in order to grow its presence in North Africa and the Middle East. Ulker Biskuvi increased its revenue during the third quarter by 0.9% to $228 million.
Golden Peanut and Tree Nuts is building a warehouse and receiving area at its Alabama shelling facility that will be able to process 20,000 tons of peanuts. Executives hope the addition will reduce unloading times and improve overall efficiency.
The Dollar General Corp. is expanding its US presence by building a new distribution center in Amsterdam, N.Y. The center, which will create nearly 430 jobs, is set to open by fall 2018.
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