Food Business News - July 15, 2014 - (Page 20)

Sweeteners-Sucralose/Stevia/Blends Fiber Powders Butter Powders Starches Specialty Maltodextrins Beer Powder Malt Extract Corn Syrup Solids Savory and Spicy Flavors Soy Sauce Powders Hydrolyzed Vegetable Protein Powders Cheese Powders Yeast/Yeast Extracts Coffee Creamers/Shortening Powder Malted Milk Powders Fructooligosaccharide (FOS) Cooked Oat Flour Honey Powder Caramel Color We dry more than dairy CONTRACT MANUFACTURING EXPERIENCE MORE THAN DAIRY FROM DAVISCO FOR MORE INFORMATION ON CONTRACT MANUFACTURING CONTACT CONTRACTMANUFACTURING@DAVISCOFOODS.COM 20 11000 WEST 78th STREET SUITE 210 EDEN PRAIRIE, MINNESOTA 55344 ® 1-800-757-7611 | WWW.DAVISCOFOODS.COM FOODBUSINESS NEWS Hormel adding muscle to its Specialty Foods business AUSTIN MINN. AUSTIN, MINN - The pending acTh di quisition of CytoSports, Inc., the maker of Muscle Milk, will put a well-known brand at the lead of Hormel Foods' Specialty Foods business. The company also hopes the combined offerings of Rev wraps, Skippy Singles and Muscle Milk will attract more younger consumers seeking on-the-go protein options to the Hormel fold. ve "This acquisition will serve as a ty growth catalyst for our Specialty Foods segment by adding a branded franchise in the fast-growing sports nutrition space," said Jeff Ettinger, chairman, president and chief executive officer of Hormel Foods, in a conference call with financial analysts to discuss the acquisition. "The deal will also leverage the capabilities of our existing team at Century Foods within the Specialty Foods segment, who specialize in the manufacture of protein-rich sports nutrition products. Muscle Milk is the leading brand in shelf-stable ready-todrink protein beverages and leads the fast-growing sports nutrition category in brand awareness." Hormel announced on June 30 it was acquiring CytoSports Holdings, Inc., for approximately $450 million. Products manufactured under the company's Muscle Milk brand include ready-todrink beverages, protein-based powders, sports nutrition bars and energy chews. Based in Sparta, Wis., Century Foods International specializes in dairy and vegetable proteins, nutraceuticals, including musclebuilding and weightloss powders, and ready-to-drink beverages. The business unit has four manufacturing plants and employs approximately 400. "Our Specialty Foods business is something that has been part of the portfolio for the last several years, but was an area that we lacked a branded presence," Mr. Ettinger said. "It was almost all custom manufacturing or private label business." CytoSports Holdings has been up for sale for some time, and Mr. Ettinger noted the company's status of being on the block may have limited its growth prospects. "That has potentially diverted some attention away from the growth momentum that they had previously enjoyed," he said. "But when we look at the robust categories that are still going on out there, the international prospects, and the fact that it is a leading brand that we think is leverageable with i ti it b l t l thi k innovative items, we absolutely think we can grow it." The acquisition also will add to Hormel's efforts to reach younger consumers interested in on-the-go options. "Today's consumers are busier than ever and are seeking protein-rich foods that can be eaten on the go," Mr. Ettinger said. "As we have stated in the past, our team is working to meet this consumer need with innovative products such as Rev snack wraps and Skippy Singles. Muscle Milk products represent another step forward in our leadership of delivering protein-rich foods in a portable and immediate form. The portability and convenience of the Muscle Milk protein beverages, which require no refrigeration, will also broaden our appeal with a younger audience." FBN July 15, 2014 http://WWW.DAVISCOFOODS.COM

Table of Contents for the Digital Edition of Food Business News - July 15, 2014

Food Business News - July 15, 2014
ADM betting billions on flavor category
Bumper corn, soybean crops on the way
Dairy Business News - Managing the mouthfeel of dairy products
Table of Contents
Web Contents
Editorial - Food as medicine trend gaining momentum
Bob Evans trying to capitalize on chicken
Protein, gluten-free products coming from General Mills
Mars accelerating health and wellness strategy
Path cleared for Tyson to acquire Hillshire Brands
Nestle sells Juicy Juice business to private equity firm
Five profiles for protein-rich product development
Hormel adding muscle to its Specialty Foods business
Major C.P.G. manufacturers having trouble getting noticed
CVS launches better-for-you snack line
Kroger makes move to bolster e-commerce presence
Raising the bar on sports nutrition
Making insects inviting to eat
What’s for dinner?
The case for insects
Washington - 'Nano' ingredients
Health and Wellness - Cost, ‘cleanliness’ and flavor innovation
Ingredient Innovations - Masking protein’s undesirable flavors
Highlights and Photos from I.F.T. 2014
New Food Products
Ingredient Market Trends - Spring wheat production forecast 6% higher than in 2013
Ingredient Markets
Supplier Innovations and News
Ad Index
Food Business in the News

Food Business News - July 15, 2014