Consumer Packaged Goods Broker News: P&G to focus on "core" businesses by cutting up to 100 brands

La Costena acquires Minn.-based Faribault Foods | P&G to focus on "core" businesses by cutting up to 100 brands | Vita Coco develops sports drink line with Target

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August 4, 2014

News for the food, beverage and consumer packaged goods industry

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La Costena acquires Minn.-based Faribault Foods
La Costena has acquired Minnesota-based canned foods company Faribault Foods in a deal that adds Butter Kernel vegetables, S&W canned beans, Kuner brand, private-label fruit juices and Chilli Man brand chili to the Mexican company's portfolio. La Costena plans to retain all of Faribault's current management, employees and facilities, according to a statement from the companies. Star Tribune (Minneapolis-St. Paul, Minn.) (8/1), Pioneer Press (St. Paul, Minn.) (8/1)

P&G to focus on "core" businesses by cutting up to 100 brands
Procter & Gamble is considering selling or shuttering as many as 100 brands to focus on 80 "core" brands that accounted for 95% of P&G's profit over the past three years. P&G recently reduced its marketing spending, and the brand divestment could mean further agency consolidation. Chief Financial Officer Jon Moeller said cuts to marketing budgets should not be interpreted as a "lack of willingness to invest behind smart ideas." Reuters (8/1), The Wall Street Journal (tiered subscription model)/CMO Today blog (8/1), Advertising Age (free access for SmartBrief readers) (8/1)

Vita Coco develops sports drink line with Target
Vita Coco has launched Vita Coco Sports as part of its distribution deal with Target. The coconut-water based sports drink is all natural with no artificial ingredients or additives. "We and Target wanted to create a product that was truly innovative and could potentially revolutionize an existing category," said Vita Coco CEO Mike Kirban. BevNet.com (8/1)

Hormel's management program prepares next generation of leaders
Hormel developed a management program in partnership with Harvard Business Publishing to identify and prepare future leaders in the company. The Management and Leadership Development Program for veteran employees, developed in 2007, offers four yearly training sessions for effective sales leadership. The company added the Emerging Leader Program in 2013 for newer employees, with five modules that target key leadership qualities. Chief Learning Officer online (7/30)

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Companies live and die by their employees
Businesses with fewer than 500 employees drive the economy, and represent about 55% of all jobs in the country. However, finding suitable employees can be tough. Small Business Owners with limited time and resources need to make every new hire count because the actions of each employee can go straight to the bottom line. Download your free white paper, Welcome Aboard: A Guide to Small Business Hiring and learn how to hire smarter.

SmartBrief Originals

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Food manufacturers may change products based on new label rules
Some of the FDA's proposed changes to the Nutrition Facts and Supplement Facts labels -- affecting portion sizes, daily values, fiber and how sugars are listed -- may prompt food manufacturers to reformulate products, says registered dietitian Elizabeth Braithwaite of ESHA Research. Companies may need to make revisions to continue health claims or to make their products more attractive to consumers, Braithwaite says. SmartBrief/SmartBlog on Food & Beverage (8/4)

Advertising & Marketing

Hershey announces new roster of PR agencies
Hershey has announced a new roster of public relations agencies to help with brand communications and corporate social responsibility. Among those selected for the roster were Ketchum, Abernathy MacGregor, Framework and JPL. Advertising Age (free access for SmartBrief readers) (7/31)

Retail Spotlight

Whole Foods to focus on 5 priorities for long-term success
Whole Foods Market will focus on five strategies to "build momentum" and "business for the long term," says CEO Walter Robb, including unit development, remodeling older stores, offering competitive prices and developing its first-ever national marketing campaign. The natural and organic food grocer also plans to improve its digital programs to allow for home delivery, customer pickup, a web-based subscription club and a new mobile app. FoodBusinessNews.net (free registration) (7/31)

GMA News

GMA premiers its Food Law Workshop
Join GMA for its newly created Food Law Workshop on Oct. 8-9 at GMA headquarters in Washington, D.C. This workshop will be the leading CPG industry workshop for professionals to gain a foundational understanding of the legal and regulatory issues revolving around the ever-changing area of food law. Discounts for early registration are available now.