Food Business News - June 21, 2011 - (Page 10)

ConAgra acquires Marie Callender’s trademarks in key strategic pillars such as convenient meals, snacks and meal enhancers. “ConAgra Foods has experienced great success as a long-term licensee of the Marie Callender’s trademark more than tripling the brand’s annual retail sales in the past 10 years,” said André Hawaux, president of Consumer Foods at ConAgra Foods. “Owning the trademark not only allows for greater control of the brand, but gives us the added flexibility to further grow the Marie Callender’s brand.” The company’s current Marie Callender’s frozen foods business includes pot pies, desserts and a wide array of single and multiserve frozen dinners and entrees, sales of which have grown to nearly $800 million annually. Marie Callender’s is now ConAgra Foods’ No. 2 retail brand, after Banquet, selling 284 million frozen meals and desserts each year. ConAgra Foods originally acquired a license to sell Marie Callender’s frozen meals and pot pies in 1994. In 2010, the company additionally acquired the license for frozen dessert pies held by American Pie, L.L.C. FBN Perkins & Marie Callender’s files for bankruptcy MEMPHIS, TENN. — Perkins & Marie Callender’s Inc. has filed for Chapter 11 bankruptcy protection with the U.S. Bankruptcy OMAHA — ConAgra Foods Inc has acquired Foods, Inc. the Marie Callender’s brand trademarks from Marie Callender Pie Shops, Inc. for $57.5 million. Marie Callender Pie Shops, Inc. operates the Marie Callender’s Restaurant & Bakery chain in California and the southwestern United States. ConAgra said the transaction fits into its strategy of acquiring businesses that add depth and strength to its existing product lines Kraft investing to eradicate malnutrition JAKARTA, INDONESIA — Kraft Foods Inc. has kicked off a $10 million, three-pronged initiative to eradicate child malnutrition in Indonesia and Bangladesh with a $3.8 million program in cooperation with Helen Keller International. The program will help families in the East Nusa Tenggara (N.T.T.) region of Indonesia, where 58% of children under age 5 have stunted growth due to malnutrition, and in the Satkhira district of Bangladesh, where about half of the children under age 5 are malnourished. The program is Kraft’s first major investment as part of Project Laser Beam, a five-year, $50 million public-private partnership led by the U.N. World Food Programme. “We can end child malnutrition,” said Irene Rosenfeld, chairman and chief executive officer of Kraft Foods. “For our part, we’re employing innovative solutions and investments in sustainable farming, microenterprises and nutrition education to improve food security and provide economic opportunity for Indonesian and Bangladeshi families in need. By working together under Project Laser Beam, we help ensure that these efforts are sustainable and scalable.” Specifically, Kraft is funding 180 “centers of excellence” for farming in Indonesia and Bangladesh over the next four years. From these centers, thousands of women across N.T.T. and Satkhira will learn sustainable farming practices and receive “start-yourown-farm” supplies (fertilizers, tools). The techniques to be taught will focus on low-cost, environmentally friendly approaches, such as the preparation and use of compost, nonchemical pest control, irrigation, crop rotation, mulching and live fencing. The program also will provide nutrition education and small business training to help the women sell their surplus crops to create greater economic opportunity for their families. “We are delighted to partner with Kraft Foods to help reduce malnutrition in the people of rural Eastern Indonesia and Satkhira District in Bangladesh,” said Kathy Spahn, president and c.e.o. of Helen Keller International. “We have seen the profound impact Homestead Food Production has on the nutritional status of participants and are very excited to work with Kraft Foods to extend the reach of this successful program.” FBN Court in Delaware. The company, which owns or franchises about 600 restaurants and sells pies, muffins, batter and other bakery products to supermarkets, said it plans to close approximately 65 restaurants and eliminate 2,500 jobs. The company listed assets of $290 million and debt of $441 million in its filing. In the third quarter ended Oct. 3, 2010, Perkins sustained a loss of $12,349,000, which compared with a loss of $11,248,000 in the same period a year ago. Net revenues also were lower, falling to $108,700,000 from $115,470,000. At the time earnings were released, Joseph Trungale, chief executive officer, attributed the sluggish results to “the languishing economy, including declines in consumer confidence and sluggish consumer spending and increased commodity costs.” Founded in 1958 as a pancake house in Ohio, Perkins was acquired in 2005 for $245 million by buyout firm Castle Harlan Inc. The company has 12,350 employees at restaurants in the U.S. Midwest, Florida, Pennsylvania and Canada. FBN 10 FOODBUSINESS NEWS ® June 21, 2011

Table of Contents for the Digital Edition of Food Business News - June 21, 2011

Food Business News - June 21, 2011
C.D.C. report fi nds increase in salmonella infections
General Mills sees ‘robust’ growth opportunities in global yogurt category
Following Jimmy
Contents
Web Contents
Editorial - German E.coli outbreak underscores need to fund F.S.M.A.
ConAgra acquires Marie Callender’s trademarks
Kraft investing to eradicate malnutrition
Perkins & Marie Callender’s fi les for bankruptcy
Snack food sales reach $64 billion in 2010, may top $77 billion by 2015
Recession seen triggering sharp drop in food product introductions
Cargill opens Latin American innovation center
John Bilbrey to helm at Hershey
ICL Performance to acquire Cosmocel Quimica
Sugar bull
Smithfield terminates Campofrio bid
Omega-3 food, beverage market grows 11%
Roark Capital ups presence in food industry
Calavo earnings decline due to higher costs
Mountaire Farms acquiring bankrupt poultry company
Diamond Foods returns to profi tability in third quarter
Nestle water efforts recognized
C.D.C. report points to increase in salmonella infections
Consumers await full impact of higher food prices
A difficult disappearing act
Innovation honored by the I.F.T.
Mintel: Functional foods ‘on life support’
Allergen labeling guidance needed
Creating a defi nition of sustainable nutrition
German E. coli outbreak may lead to changes
Chronic inflammation: The next opportunity?
ConAgra Mills unveils food safety system for flour
Finding fiber everywhere
Spicy fl avors moving beyond heat
Dairy Business News
Commission clears Lactalis acquisition of Parmalat
New texture system replaces milk fat in dairy products
Researchers target sodium redution in cheese
General Mills sees ‘robust’ growth opportunities in global yogurt category
Saputo fiscal year earnings rise 18%
New Danisco system targets artisan ice cream
Researchers target sodium reduction in cheese
Single-serve licensing
Quiznos adds three concepts to menu
Flax USA introduces Flaxmilk
Johnsonville Sausage adds chicken varieties
General Mills adds brownies to Fiber One line
Farley’s & Sathers updates Tree Top line
Ingredient Market Trends
Senate vote to end ethanol support seen as symbolic
Ingredient Markets
New container may hold two compatible products
Solbar names president of U.S. business
Sensient launches naturally-sourced colors in dry state
Comax develops fl avors for energy drinks
Puratos launches bake-stable chocolate fi llings
DSM completes U.S. innovation center
Sea salt assists in sodium reduction
Classifieds
Marketplace
Ad Index
Food Business in the News

Food Business News - June 21, 2011

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