Food Business News - February 23, 2016 - (Page 16)

BEYOND TYSON 2.0 BOCA RATON, FLA. - The question that has lingered since Tyson Foods, Inc. acquired Hillshire Brands is what will the company do with the broad portfolio of brands once the merger and integration were complete? On Feb. 16 at the Consumer Analyst Group of New York conference at the Boca Raton Resort and Club, company executives opened up about future plans. The company has a robust innovation pipeline, said Sally Grimes, chief growth officer and president of the company's International business unit. " ... We are just getting started," Ms. Grimes said during the presentation. "Since Tyson and Hillshire came together, we have expanded our new product pipeline from about a year and a half to a full 3 1/2 years out. So this means that we can increase our pace of innovation because we have a broader pipeline of options. Now, we feel great about these results, but it's the ideas and the initiatives behind them that are where the inspiration really lies." Concepts within the innovation pipeline will take Tyson Foods in many different directions. A focus on adding value to the beef, pork and poultry raw materials it produces will remain a priority. In addition, the company is focused on moving such traditional brands as Jimmy Dean, Hillshire Farm and Ball Park into adjacent categories. In July, for example, a frozen stuffed hash brown product will be introduced under the Jimmy Dean brand. That same month Jimmy Dean will introduce a frozen frittata that will be marketed as a healthier 16 FOODBUSINESS NEWS ® handheld item and sold under the Delights sub-brand. Ms. Grimes said both innovations capitalize on the morning snacking and brunch occasions. The company also will focus on growing emerging brands, including Hillshire Snacking, Golden Island (jerky), Nature Raised Farms and Van's. The portfolio of start-up brands, which also includes Nudges pet treats, had total sales of approximately $225 million in 2015, a 50% increase over sales in 2014, according to the company. " ... The Tyson recipe is pretty simple," Ms. Grimes said. "It's three ingredients: generating deep and real insight, applying that insight in new and remarkable ways, Tyson Ty is a brand people trust, that people care about, and will come back to time and again.. - Sally Grimes, Tyson Foods, Inc. and executing with excellence at the speed of the market. So from our proprietary demand mapping to our custom innovation process and systems to our state-of-the-art research and development centers, we have a team and we have the tools that are among the best in the industry." Another priority for the company will be to reinvigorate and refresh the Tyson brand. Ms. Grimes said the company plans to reclaim its origin story and use it as a springboard for the future. "Tyson is a brand people trust, that people care about, and will come back to time and again," she said. With the refreshed Tyson brand platform the strategy is to leverage it with a concept the company is calling consumer fresh goods. "Consumer demand is driving growth in fresh foods, where we have core capabilities and a big business today," Ms. Grimes said. "And we have an opportunity to margin up our portfolio by adding value to our poultry, pork and beef businesses. "So we have activated capabilities across our entire enterprise to create a platform that is branded, that is valueadded and fresh, and the potential here is huge. We have an opportunity to create new value for one of foods' largest categories, and with new value for the consumer comes new value for Tyson with pricing power, with higher margins and sustainable growth." An example of this refresh is the upcoming launch of Tyson Tastemakers, a curated line of dinner experiences that may be made fresh at home. FBN February 23, 2016

Table of Contents for the Digital Edition of Food Business News - February 23, 2016

Food Business News - February 23, 2016
Campbell Soup defends G.M.O. labeling decision
Whole grains versatility
Dairy Business News - The many shades of cocoa
Table of Contents
Web Contents
Editorial - Pickup ahead in food m. & a. activity
WhiteWave broadening its Horizon
Pilgrim’s Pride plans sizable strategic investment
Consumers not clear on clean label definition
W.H.O. report urges tax on sugar-sweetened drinks
Snacks ‘area of weakness’ for Kellogg
US Foods files for initial public offering
Beyond Tyson 2.0
General Mills ahead of natural, organic sales goal
Mondelez ‘Lines of the Future’ steadily proliferating
Smucker looks to ‘lead with innovation'
Food business blossoming for
Mars to remove artificial colors across portfolio
Three trends driving gluten-free market
Market Insight - The demise of orange juice
Washington - President’s budget for food safety leans heavily on user fees
Ingredient Trends - Manufacturers responding to non-G.M.O. trend
Whole grain intake still could improve
Is there a U.S. cocoa shortage?
New Food Products
Ingredient Market Trends - Secretary Vilsack says reports demonstrate net energy benefits of ethanol
Ingredient Markets
Supplier Innovations and News
Ad Index
Food Business in the News

Food Business News - February 23, 2016