Milling & Baking News - August 21, 2012 - 9

Pepperidge to add products, open center this fall
NORWALK, CONN. — New products and a new innovation center are expected to debut later this fall at Pepperidge Farm, Inc. The company, which earlier this month welcomed aboard a new president, Irene Chang Britt, is celebrating its 75th anniversary with new bread, crackers and cookies. The new products on tap for this fall include: • Pepperidge Farm Simply Natural bread in honey wheat and honey oat varieties. • Goldfish bread in brown sugar and cinnamon varieties. • Pepperidge Farm Caramel Apple Swirl bread. • Pepperidge Farm Jingos! snack crackers available in three varieties: zesty lime and sweet chili; savory Parmesan garlic; and smoky fiesta cheddar. • Pepperidge Farm Milano Slices Salted Pretzel cookies. • Pepperidge Farm Milano Melts in vanilla crème. • Pepperidge Farm Soft Baked cookies. • Pepperidge Farm Milano Cookie Cake, a two-layer vanilla cake with buttercream icing and filling, sprinkled with Milano cookie pieces, and Chocolate

Chunk Cookie Cake, a two-layer cake with chocolate chunks and chocolate icing topped with chocolate chunk cookie pieces. In September, Pepperidge will open its 34,000-square-foot innovation center at the Pepperidge Farm headquarters. The center is a $30 million investment designed to support Campbell’s strategy of driving growth in baked snacks and the company’s efforts to accelerate innovation across its baking and snacking portfolio. The center will have a pilot plant with product development and testing lines, culinary kitchens, scientific labs and meeting rooms. “Our innovation center is the first of many steps that will raise Pepperidge Farm to new heights as a brand that consistently delivers quality products with wholesome ingredients, unique flavors and simple goodness, which is true to our heritage and Margaret’s (Rudkin, company founder) legacy,” Ms. Britt said. MBN

Hostess, unions near deal?
IRVING, TEXAS — The Teamsters, Hostess Brands, Inc.’s biggest union, has received a “final” offer to save the embattled baker from liquidation, according to the New York Post. The Post, citing unnamed sources, said the proposal includes a 5% wage cut in the first year for all Hostess workers, as well as cuts to health care benefits and lower pension contributions. The offer also supposedly includes a provision that would allow Hostess to sell some of its smaller brands, including Merita Bread, with part of the proceeds going to the company and part to pay back creditors, the Post said. In exchange for the cuts, Hostess would remain in almost all of the Teamsters’ multi-employer pension plans, the Post noted. In an Aug. 13 posting on its web site, the Teamsters said, “We received a final offer from Hostess Brands Inc. over the weekend and are thoroughly reviewing the details. We are reaching out to local unions and coordinating with them to set up membership meetings in the coming weeks.” Hostess has not commented on the proposed offer. MBN

Scoular to build grain handling facility in Kansas
OMAHA — The Scoular Co. plans to partner with the Union Pacific Railroad to build a new shuttle train-loading grain-handling facility at a greenfield site near Willis, Kas. Construction of the grain-handling facility is scheduled to begin in the fall of 2012. “We’ve done extensive research and planning to find the right location for this project,” said Bob Ludington, chief operating officer for Scoular. “We’re pleased to have selected Willis given the combination of the area’s substantial crop production and our strong working relationship with Union Pacific.” When complete, the facility will feature high-speed truck unloading and grain drying capacity, and will accommodate a loop track for up to 120 rail cars as well as Union Pacific shuttle loading/unloading capability for grains and fertilizer. “Scoular’s new facility fits perfectly into our franchise, will stimulate the local economy, and bring national and world markets within reach,” said Paul Hammes, vice-president and general manager of agricultural products for Union Pacific. “We are very excited about the increased grain origination and corresponding outbound traffic this site affords, as well as the future opportunity to handle inbound unit trains of fertilizer via Union Pacific’s GroTrain service.” The facility will be Scoular’s sixth shuttle train loader in Kansas and adds to the company’s North American network of more than 60 grain-handling facilities. MBN
Milling & Baking News August 21, 2012 / 9

Kraft board approves spin-off, declares quarterly dividend
NORTHFIELD, ILL. — The board of directors of Kraft Foods Inc. has approved the spin-off of the company’s North American grocery business and declared a pro rata distribution of shares of Kraft Foods Group, Inc., which will hold the North American grocery business, to holders of Kraft Foods Inc. common stock. The spin-off is set to be finalized at 5 p.m. E.D.T. on Oct. 1 through a pro rata dividend of all outstanding shares of Kraft Foods Group
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common stock. On the distribution date, each Kraft Foods Inc. shareholder will receive one share of Kraft Foods Group common stock for every three shares of Kraft Foods Inc. common stock held by shareholders on the record date. Additionally, the board declared a regular quarterly dividend of 29c per share of Kraft Foods Inc. common stock. This cash dividend is payable on Oct. 15 to shareholders of record as of the close of business on Sept. 19. MBN

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Milling & Baking News - August 21, 2012

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