Milling & Baking News - June 15, 2021 - 8

TUES | 06 15 2021
CAMPBELL
SNACKS PROFIT,
SALES SLIDE
CAMDEN, NJ. - Earnings
and sales within the Snacks
unit at Campbell Soup Co. fell
in the third quarter, reflecting
SNACKS
PROFIT DOWN
29%
IN Q3
challenging comparisons to
the prior year as the company
cycled the demand surge that
accompanied the onset of the
COVID-19 pandemic. Earnings
in the Snacks unit totaled $109
million in the third quarter
ended May 2, down 29% from
$154 million in the same period
a year ago. Sales eased 8% to
$945 million from $1.03 billion.
" Organic net sales decreased
8% driven by volume declines
within our salty snacks portfolio,
including Pop Secret
popcorn, Cape Cod potato
chips and Snyder's of Hanover
pretzels as well as in Lance
sandwich crackers, partner
brands and Fresh Bakery, "
Mick J. Beekhuizen, executive
vice president and chief financial
officer, said during a June 9
conference call with analysts.
BUNGE AHEAD ON
GOAL TO FIGHT
DEFORESTATION
ST. LOUIS - Efforts to combat
deforestation were a highlight
in Bunge Ltd.'s 2021 Global
Sustainability Report. The
company has committed to
achieving deforestation-free
supply chains by 2025. Bunge
has achieved 100% traceability
Bunge since 2016 has reduced
its water use by 22%, its energy
use by 6.8%, its waste disposal
by 5.3% and its greenhouse gas
emissions by 5.4%.
8
to all-direct, soybean sourcing
farms in the high-priority
areas of South America. In
palm-producing areas in Southeast
Asia, Bunge has achieved
98% traceability to the mill and
77% traceability to plantation.
In other sustainability efforts,
GENERAL MILLS
TO LAUNCH
BIG G INSTANT
OATMEALS
MINNEAPOLIS - General
Mills, Inc. is taking several of
its popular Big G ready-to-eat
cereals to the oatmeal category
with the launch of Big G Instant
Oatmeals. The Big G Instant
Oatmeals will be available beginning
in June in the following
flavors: Lucky Charms, Cinnamon
Toast Crunch, Trix and
Cocoa Puffs. Each oatmeal comes
with a special topping. The
Lucky Charms vanilla-flavored
oatmeal will include marshmallows.
The Cinnamon Toast
Crunch cinnamon oatmeal will
include a cinnadust topping. The
Trix fruit-flavored oatmeal will
come with a colorful crunchy
topping, and the Cocoa Puffs
chocolate-flavored oatmeal will
include a chocolate-flavored
crunchy topping. The suggested
retail price of the oatmeal is
$2.48 for a six-pack box.
HORMEL FOODS
FINALIZES DEAL
FOR PLANTERS
AUSTIN, MINN. - Hormel
Foods Corp. has completed
the acquisition of the Planters
snacking portfolio from the
Kraft Heinz Co. The $3.35 billion
transaction includes most
products sold under the Planters
brand, including mixed
nuts, trail mix, Nut-trition
products, Cheez Balls, Cheez
Curls and Corn Nuts branded
products. The agreement also
includes global intellectual
property rights to the Planters
brand and three production
facilities located in Fresno,
Calif.; Fort Smith, Ark.; and
Suffolk, Va. " This is an important
day for Hormel Foods as
we close the largest acquisition
in our company's history, "
said James P. Snee, president
and chief executive officer of
Hormel. " As a global branded
food company, we have been
making a purposeful and
strategic shift in our portfolio
of brands and products,
which includes enhancing our
snacking offerings. The Planters
snacking business is an
important cornerstone to this
strategy and now joins our
leading brands such as Skippy,
Spam, Hormel Natural Choice,
Applegate, Justin's, Columbus
and Wholly Guacamole. MBN
BRIEFS
BUNGE, GENERAL MILLS AND HORMEL FOODS
Milling & Baking News - June 15, 2021

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