Food Business News - February 24, 2015 - (Page 16)

WhiteWave Foods 'busting at the seams' DENVER - WhiteWave Foods is on a roll. Not only did the company issue robust earnings on Feb. 12, but executives also highlighted several innovative new product initiatives and plans to build a new research and development facility to support future growth. New product launches scheduled during the year include cashew milk and ice delivering on these very strong financial results, we completed two highly strategic acquisitions, Earthbound Farm and So Delicious. We launched several new and innovative products, successfully expanded our brands into new categories, built new plants in China and Dubois, Pa., and launched Silk plant-based beverages in China." Mr. Engles described the company's WhiteWave Foods will relaunch Silk yogurt with a new formulation and packaging later this year. ingredients custom blends innovation national distribution B.C. Williams Bakery Service BCW Food Products 1-800-527-4104 16 FOODBUSINESS NEWS ® d li f b d d cream, a revamped line of Silk branded yogurt, and frozen fruit and vegetable blends from the company's recently acquired Earthbound Farm business. The new R.&D. plant is intended to alleviate pressure that has been building as WhiteWave Foods has grown and expanded through acquisition. The company currently leases a plant for its R.&D. efforts, but it has proven to be inadequate. "Frankly, we just needed a bigger facility, and we needed a greater ability to actually produce and manufacture product innovations in the R.&D. facility rather than trying to do it in a plant that was trying to run as hard as it could to satisfy the demand that we were experiencing in the marketplace," said Gregg Engles, chairman and chief executive officer, in a conference call with securities analysts on Feb. 12. "We will have greater capabilities in this facility. We'll be able to test and develop products across a broader range of categories. But frankly, we're just busting at the seams in terms of where we were, and we needed more." For the year ended Dec. 31, 2014, WhiteWave Foods earned $140,185,000, equal to 81c per share on the common stock, and an increase compared with the previous year when net income equaled $99,041,000, or 57c per share. Sales rose 37% to $3,436,605,000 in fiscal 2014 as compared with fiscal 2013 when sales totaled $2,503,487,000. Excluding acquisitions, sales in 2014 were up 11%. "In summary, 2014 was a great year for WhiteWave," Mr. Engles said. "Beyond h ilk b idi cashew milk beverages as providing a milk-like creaminess and taste, but being lower in calories and fat. "This new innovation further expands our leadership in the nut-based department category," he said. "We are also expanding our commitment to plant-based foods with the re-launch of our Silk dairy-free yogurts. We have significantly upgraded both the formulation and packaging of Silk yogurts and for the first time are producing these yogurts ourselves at our newly commissioned Dubois, Pa., facility. "We're taking a measured approach to building Silk yogurt distribution while we ramp up production to ensure that we maintain the highest quality. We are excited about the potential of dairy-free yogurts in the United States based upon the success we have experienced with our plant-based yogurts in Europe and the quality of the products we are now producing." The company also announced a reorganization of its business units. There are now three within the WhiteWave organization, including Americas Food and Beverage, which includes its North American platforms, including plant-based foods and beverages, dairy and coffee creamers and beverages, the Europe Food and Beverage segment, and the Americas Fresh Foods segment, which will include Earthbound Farm and other fresh foods aspects of the company. Leading each business unit will be Blaine McPeak, Americas Food and Beverage; Kevin Yost, Americas Fresh Foods; and Bernard Deryckere, Europe Food and Beverage. FBN February 24, 2015

Table of Contents for the Digital Edition of Food Business News - February 24, 2015

Food Business News - February 24, 2015
General Mills accepts the C.P.G. challenge
Gluten-free front and center
Mexican trade rift looms over Sweetener Colloquium
Table of Contents
Web Contents
Editorial - Subscription models may offer unique marketing opportunities
Confectionery companies switching to simpler ingredients
McCormick to acquire Italian spices and seasonings company
Mondelez has big plans to grow small platforms
WhiteWave Foods ‘busting at the seams'
More c-suite change at Kraft Foods
Keurig in transition
Mondelez acquires Enjoy Life Foods
Innovation paying for PepsiCo
TreeHouse Foods trims expectations
Kraft cleans up Capri Sun
Washington - Federal bills seek to mandate G.M.O. food labeling
Company Profile - Dr Pepper Snapple Group seizing opportunities
Capitalizing on R.C.I.
Ingredient Innovations - Clean label starches get tougher
Are clean labels and G.M.O. ingredients compatible?
More clean label ingredient opportunities
Dairy Business News - Yogurt, the next generation
New Food Products
Ingredient Market Trends - Belt-tightening time for U.S. agriculture in 2015-16
Ingredient Markets
Supplier Innovations and News
Ad Index
Food Business in the News

Food Business News - February 24, 2015