Food Business News - June 28, 2016 - (Page 64)

Company Profile WhiteWave Foods eyeing $3 billion in additional U.S. plant-based foods sales he market for plantbased food products in the United States is on trend, and executives from The WhiteWave Foods Co. expect to generate an additional $3 billion in sales as household penetration increases and the category continues to grow. With a product portfolio that features such well-known plant-based foods brands as Silk, So Delicious and the recently acquired Vega, the company may be positioned to achieve its goal. "We believe the development of plant-based products is still in the early stages and there is significant runway to increase household penetration and broader usage by converting dairy milk households to plantbased households, targeting additional consumers into the plant-based alternative space, broadening usage occasions by broadening our portfolio of products, and expanding the category with new items," said Gregg Engles, chairman and chief executive officer, on June 21 during the Jefferies Consumer Conference in Nantucket, Mass. "Also, plant-based has just a 9% share of the U.S. dairy category today. Using this relative share as a guide across our T 64 FOODBUSINESS NEWS ® broad-based portfolio of beverages, yogurts, desserts, and novelties and other possible future areas of innovation, we've identified almost $3 billion of additional potential plant-based category sales." As Mr. Engles looks forward optimistically, the forecasts rest on a track record of growth at WhiteWave. As an independent company, WhiteWave was spun off from Dean Foods in October 2012 through an initial public offering. "Since 2012 we've increased our top line by $1.6 billion, representing 19% compound annual growth," Mr. Engles said. "Over the same time period our operating income has more than doubled to $375 million in 2015, for a compound growth rate of 29%." The company's stock has performed well during this period. In trading on the New York Stock Exchange the middle of last week, WhiteWave Foods shares were $46.65, representing a gain of 179% since the company's 2012 i.p.o. By contrast, the S.&P.500 was up just 48% over the same period. The company's Americas plant-based foods and beverages business achieved approximately $920 million in sales during fiscal 2015 on 32% U.S. household penetration (globally, sales were about $1,452 million). The company claims its Silk and So Delicious brands are leaders in the markets for plant-based beverages, with a 75% share of the soy-milk category, 48% share of the nutbased beverage category, and a 94% share of the coconut-based beverage segment. WhiteWave Foods acquired WhiteWave Foods portfolio includes Silk, So Delicious and Vega brands. June 28, 2016

Table of Contents for the Digital Edition of Food Business News - June 28, 2016

Food Business News - June 28, 2016
What will Brexit mean for U.K. food and agriculture?
Obesity rate rises as sweetener use declines
Beverage Business News - Protein on trend in R.-T.-D. beverages
Table of Contents
Web Contents
Editorial - Market fragmentation intensifies C.P.G., retail competition
Coca-Cola invests in organic aloe water beverage maker
Dunkin’ Donuts evolves with expansion of beverage portfolio
Philadelphia passes tax on caloric, diet beverages
Post said to be considering combining with Lamb Weston
Teasdale adds to private label portfolio with purchase of Mesa Foods
CVS to expand selection of healthier foods, will add to private label line
Monster moving beyond energy beverages with debut of Mutant, Hydro
Coca-Cola changing its soft drink strategy to focus on ‘shaping choice
McDonald’s to relocate corporate headquarters
Smucker earnings soar on coffee sales, pet food acquisition
A squeeze on pectin
Picking out pectin alternatives
Kellogg launches $100 million venture capital fund
Kellogg adds Pure Organic to Kashi portfolio
TreeHouse Foods profiles the changing private label consumer
Martha Stewart enters meal kit market with delivery subscription service
B&G Foods ready to ‘fight back’ in frozen food aisle
Washington - Audit finds F.D.A. must improve food recall process
Snack Trends - Key trends unveiled at Sweets & Snacks 2016
Crispy, convenient and gluten-free
When gluten-free orders get serious
Company profile - WhiteWave Foods eyeing $3 billion in additional U.S. plant-based foods sales
WhiteWave’s Earthbound Farm brand set to soar in fresh and frozen
Industry Images - Record attendance at 2016 Purchasing Seminar
New Food Products
Ingredient Market Trends - Post-eleventh hour compromise on G.M.O. labeling
Ingredient Markets
Supplier Innovations and News
Ad Index
Food Business in the News

Food Business News - June 28, 2016