Corporate Profiles - 2020 - 14

INDUSTRY REVIEW: GRAIN-BASED FOODS

1% over 207,529,000 in the first half of 2019. It was down 0.6% from
a record 210,916,000 cwts in the first half of 2018.
That bakers did not believe strength in retail demand would endure
indefinitely was suggested in a downward revision by Flowers Foods in
its long-term financial guidance. Going forward, Flowers' long-term goal
will be sales growth of 1% to 2%, EBITDA growth of 4% to 6% and
earnings-per-share growth of 7% to 9%. In 2016, the company had
established growth targets of 3% to 4% for sales and 13% to 14% for
EBITDA margins to be hit beginning in 2019.
"We have made a lot of progress in removing costs from the organization, but as some of you know, we have had difficulty translating

LEADING FRESH

LEADING FRESH

hamburger/hot dog buns vendors
1
2
3
4
5
6
7
8
9

Grupo Bimbo
Flowers Foods Bakeries LLC
Martin's Famous Pastry Shoppe, Inc.
Campbell Soup Co.
Aunt Millie's Bakeries, Inc.
Lewis Bakeries, Inc.
United States Bakery
Pan-O-Gold Baking Co.
King's Hawaiian Bakery West, Inc.
Private label
Total

Dollar sales
$469,889,421
$290,223,544
$232,489,122
$217,096,795
$57,157,742
$54,000,481
$48,321,731
$35,086,537
$33,677,209
$791,289,578
$2,347,365,376

% change
from
year ago
21.5%
15.4%
17.4%
11.4%
15.6%
27.7%
19.2%
20.2%
11.6%
1.3%
11.4%

┬ęSTEVE CUKROV - STOCK.ADOBE.COM

measures disclosed by Aryzta included halting operations at eight baking
plants in North America and Europe because of reduced demand. About
a third of its workforce was furloughed. The plants began reopening in
late June, but a month later Gary McGann, the company's chairman, said
that he would step down from his post at the conclusion of the company's
extraordinary general meeting set for Sept. 16. Acrimony from shareholder
groups seeking wholesale changes in management and board leadership
continued through the summer. In mid-August, a shareholder group called
for the installation of Urs Ernst Jordi as Mr. McGann's replacement. Mr.
Jordi is former head of Aryzta Europe and former chief executive officer of
Hiestand Holding AG. Ethos, a Swiss corporate governance advisory group,
voiced its support for Andreas G. Schmid to take over as Aryzta's chairman.
Mr. Jordi prevailed.
One of the most successful companies in grain-based foods over the
last 20 years, J&J Snack was hit hard by the pandemic. The Pennsauken,
NJ-based company in late March said the shutdown of large segments
of the US economy, including schools, stadiums, arenas, movie theaters,
amusement parks and restaurants, would have a "material impact" on
its sales and operations. The company said two-thirds of its annual revenue of approximately $1.2 billion comes from venues and locations that
shut down or heavily curtailed operations because of the coronavirus
pandemic. Two months later, a major leadership was announced at the
company. Daniel Fachner was promoted to president of J&J Snack Foods
Corp., reporting to longtime company leader Gerald B. Shreiber, who will
remain chairman and CEO. In his new role, Mr. Fachner will have responsibility for the entire business of J&J Snack Foods with all business heads
reporting directly to him. He also will remain president and CEO of The
Icee Co., a position he has held since 1997.
With the surge in demand from retail and the near collapse on the
foodservice side, overall demand for flour-based foods was about flat, at
least based on flour production data from the USDA.
January-June 2020 flour output aggregated 209,629,000 cwts, up

rolls/bun/croissants vendors
1
2
3
4
5
6
7
8
9

King's Hawaiian Bakery West, Inc.
Grupo Bimbo
Flowers Foods Bakeries LLC
Campbell Soup Co.
Carrs Food International, Ltd.
United States Bakery
Calise & Sons Bakery, Inc.
Aunt Millie's Bakeries, Inc.
H&S Bakery
Private label
Total

Dollar sales
$598,371,505
$384,240,017
$86,021,687
$55,683,787
$53,288,404
$31,054,234
$29,374,541
$28,508,986
$23,508,986
$542,176,431
$2,184,615,151

% change
from
year ago
16.0%
5.3%
12.4%
0.4%
78.8%
17.6%
8.2%
20.9%
31.0%
7.4%
12.3%

Data for 52 weeks ended July 12, 2020
Total US - Multi-outlet with C-Store (Supermarkets, Drugstores and Mass Market Retailers, Gas/C-Stores, Military Commissaries and Select Club & Dollar Retail Chains)
Source: Information Resources, Inc.

14 \ October 2020

Milling & Baking News * Food Business News * Baking & Snack * Meat+Poultry * Pet Food Processing

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Corporate Profiles - 2020

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