Some forecasters are saying that a Kraft Foods spinoff might be imminent after Altria Group announced its earnings report would come a day later than expected. "Although there could be other reasons, possibly an acquisition, we are maintaining our thesis that Altria's board realizes that it must act now and spin off Kraft Foods since there is risk in waiting," one analyst said.
Frito-Lay plans to roll out Flat Earth, snacks that feature half a serving of fruits or vegetables per ounce. The $24.3 billion salty snack market has been slowing except in the more nutritious and flavored categories. "Consumers are looking for healthier snacks," said Tess Zbuchalski, wellness chief at Frito-Lay.
The Competition Commission in the U.K. is evaluating submissions by J Sainsbury, Asda, Wm Morrison and Marks & Spencer, who are pushing for changes to the local development and planning systems, which they say unfairly give Tesco an advantage. Tesco's competitors maintain the practices allow Tesco to landbank sites and minimize competition, but Tesco argues there is plenty of land available.
William D. Perez, who spent eight years as president and chief executive of SC Johnson, has been named the new president of Wm. Wrigley Jr. Co. He succeeds Bill Wrigley Jr. who will stay on as chairman.
Family-owned Wenner Bread Products, a "major supplier" of par-baked breads and frozen dough, has its roots firmly planted on New York's Long Island. The company is looking to expand its operations there, even though moving to another state could prove more cost effective.