Milling & Baking News - February 24, 2004 - (Page 1)

Theinewsweeklyiofigrain-basedifoods LATE BREAD Product Perspective NEWS ST. LOUIS - Net income of Panera Bread Co. in the fourth quarter ended Dec. 27 was $10.4 million, equal to 34c per share on the common stock, up 38% from $7.5 million, or 25c per share, in the fourth quarter of fiscal 2002. The results pushed full-year earnings for 2003 to $30.4 million, or $1 per share, an increase of 40% from $21.8 million, or 73c per share, in 2002. Revenue for the quarter totaled $94.7 million, up 30% from $73 million last year; revenue for the full year reached Continued on Page 10 Net income rises sharply at Panera Ralcorp to acquire Concept 2 Bakers from McGlynn ST. LOUIS - In another move aimed at increasing its presence in the frozen baked foods market, Ralcorp Holdings, Inc., said last week it has signed a definitive agreement to purchase Concept 2 Bakers (C2B), a maker of frozen par-baked artisan bread with a bakery in suburban Minneapolis. Ralcorp did not disclose terms of the transaction, expected to close by the end of February. The company's Bremner, Inc. subsidiary plans to operate C2B as part of its existing Lofthouse Foods in-store bakery business. With annual sales of $34 million, C2B employs 200 workers at its Fridley, Minn., bakery just north of Minneapolis. The business makes par-baked custom bread, baked deli sandwich bread and baked Continued on Page 14 FEBRUARY 24, 2004 / Alive and kicking J ust in case you wondered, the bread market is not going away. While the reducedcarbohydrate movement took hold in 2003 as an undeniable powerful force prompting dramatic, even wrenching shifts in U.S. eating habits, the bread aisle did not shrivel up and disappear. According to Information Resources, Inc., bread sales in the year ended Jan. 4 actually rose 1.4% on a dollar basis from 2003, and fell 1.7% on a unit basis. Because the data exclude supercenters such as Wal-Mart Stores, Inc., industry observers suggested that bread unit sales in 2003 were flat at worst. In addition, many industry executives interviewed by Milling & Baking News exhibited considerable enthusiasm toward the category's prospects for the new year. Not merely hollow talk. A walk down the bread aisle of a supermarket affirms extraordinary industry dynamism. Bread packages with the word "new" tagged prominently are in greater evidence than at any time in memory. While many of these new products promise customers reduced-carbohydrate Continued on Page 31 Group sees special pasta fit in low glycemic index diets ROME - That pasta uniquely among grain-based foods belongs in healthy diets was the consensus voiced at an industrysponsored scientific conference last week. In effect creating a wedge between pasta and other grain-based foods such as bread (even whole-grain bread), rice and oatmeal, speakers concluded that the distinction is merited based on the different glycemic index scores of the various products. inside Conducted by Oldways Preservation Trust, a long-time advocate of the Mediterranean diet, the Healthy Pasta Meals Conference was sponsored by a group that included Barilla S.p.A. and American Italian Pasta Co. The meeting was conducted Feb. 16-18 at the Cavalieri Hilton hotel in Rome. The meeting was held against a backdrop Continued on Page 11 THIS WEEK ADM joins Lesaffre in yeast venture 14 Ingredient Pepperidge innovation in products, distribution 17 Kraft sets focus on health and wellness 18 Week 50

Table of Contents for the Digital Edition of Milling & Baking News - February 24, 2004


Milling & Baking News - February 24, 2004