Milling & Baking News - October 20, 2020 - 14

Business

Eurazeo takes $25 million stake in
NC cookie, cracker manufacturer
PARIS - Global investment firm Eurazeo
has completed a $25 million minority investment in Dewey's Bakery, a Winston-Salem,
NC-based cookie and cracker manufacturer.
Eurazeo Brands, the division of
Eurazeo focused on differentiated consumer brands with global growth potential, is investing alongside Scott A. Livengood, chairman and majority owner
of Dewey's, and Michael P. Senackerib,
incoming chief executive officer.
Founded in 1930, Dewey's Bakery produces soft baked cookies, crisp cookie
thins and savory crackers. The company
offers custom-branded products for the
largest food retailers in the United States

and is an emerging national brand in
natural, specialty and mainline grocery
channels. The company also operates
several retail bakeries in the WinstonSalem area with longstanding roots in the
local community.
Mr. Livengood acquired Dewey's Bakery in 2006. Prior to acquiring Dewey's,
Mr. Livengood was with Krispy Kreme
Doughnuts Inc. for 28 years, including 7
years as chairman, president and CEO.
As part of Eurazeo's investment, Mr.
Senackerib has joined Dewey's as CEO.
Mr. Senackerib has more than 30 years of
experience in the food industry, most recently as co-founder and CEO of Farm &

BROWNSVILLE, TEXAS - The Port of
Brownsville announced on Oct. 14 that
it is "reclaiming its status as a major exporter of agricultural products" after receiving a $14.5 million grant from the US
Department of Transportation to improve
efficiency and safety of its grain storage
and loading facilities.
The grant, deriving from the DOT Maritime Administration (MARAD) Port Infrastructure Development Program, supports the development, expansion and
upgrade of the port's 3-million-bu grain
elevator operated by WestPlains, LLC.
The project consists of fixed landside,
rail, road improvements, as well as related
planning and other development activities. Once completed, the improvements
will create a new cost-efficient option for
all grain producers from the Rio Grande
Valley and other parts of Texas and the
United States to export goods around the

PORT OF BROWNSVILLE

Brownsville port receives grant,
expects farm exports to grow

The Port of Brownsville is receiving a $14.5
million grant from the US Department of
Transportation to improve efficiency and safety of its grain storage and loading facilities.

world via the Port of Brownsville.
WestPlains and the port entered into an
agreement in 2016 to modernize and enhance the operational efficiency of the specialized dock, with the port investing $5
million in the project. The privately-held

Adjusted Ardent Mills profits
nearly steady in first quarter
CHICAGO - Equity method investment
earnings at Conagra Brands, Inc. declined
in the first quarter of fiscal year 2021.
A reference to the Ardent Mills results
was included in the Conagra Form 10-Q
filed Oct. 6 with the Securities and Exchange Commission.
Equity method investment earnings at
Conagra were $6.5 million in the first quarter ended Aug. 30, down from $12.3 million
for the first quarter of fiscal 2020. Contributing to the decline was a $5.4 million gain in
14 / October 20, 2020

Milling & Baking News

the first quarter of fiscal 2020. The gain was
related to the sale of an asset by the Ardent
Mills joint venture, Conagra said. First-quarter earnings, adjusted for one-time items,
were within 3.5% of year ago profits.
Conagra Brands and Cargill each own
44% of Ardent Mills, the largest milling
company in the United States, with CHS
the owner of the remaining 12%. Conagra
Brands continues to report as part of its
continuing operations its share of Ardent
Mills sales and earnings. MBN

Oven Snacks, a maker of cookies, muffins
and bakery bites. Earlier, he held senior
positions at Campbell Soup Co., Nabisco
and Kraft Foods.
Eurazeo Brands said it plans to help
Dewey's accelerate and enhance its marketing activities and manufacturing capabilities in order to grow both its branded
product business and support its longstanding private label division.
James A. Goldman, senior adviser to
Eurazeo and a food and beverage executive, and George M. Birman, principal at
Eurazeo Brands, will join Dewey's board
of directors.
Dewey's marks Eurazeo Brands' seventh investment since May 2017 and its
third investment within food and beverage. Eurazeo has a portfolio of €18.5 billion in assets under management. MBN
company already has made significant
investments in phase one of its improvement strategy at the facility and plans
to demonstrate further confidence with
significantly larger investments in phase
two to maximize capacities of WestPlains'
Brownsville home. The company currently handles more than 300,000 tonnes of
grains, including yellow corn, dried distillers' grain, sorghum and sugar.
Through this investment and with the
port's structural improvements to the adjacent specialized bulk cargo dock - and
after a 13-year pause in grain exports at
the port - the facility began sorghum exports to China in August. MBN

Calise & Sons Bakery
introduces 'brioche
style' Texas toast
LINCOLN, RI. - Calise & Sons Bakery,
Inc. has announced its first foray into
the breakfast category with its new Brioche Style Cinnamon Chip Texas Toast.
A staple throughout the Northeast and
Mid-Atlantic regions, Calise brings its
signature gourmet brioche style bread to
the breakfast table.
"For four generations, Calise has been
known for providing the freshest, best-tasting bread and rolls for lunch and dinner,"
said Michael R. Calise, president of Calise
Bakery. "Expanding our treasured briochestyle bread into breakfast was a natural
next step for us, but we took our time to
ensure that what we brought to the table
was truly different than anything else out
there. Our new Brioche Style Cinnamon
Chip Texas Toast offers a fresh take on the
most important meal of the day, making it
the perfect treat for the whole family." MBN
bakingbusiness.com / world-grain.com

http://www.bakingbusiness.com http://www.world-grain.com

Milling & Baking News - October 20, 2020

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