Baking & Snack - May 2018 - 16
Investment group agrees to
acquire Hearthside Food
An investment group led by Charlesbank Capital Partners and
Partners Group has reached an agreement to acquire Hearthside
Food Solutions, Downers Grove, IL, from Goldman Sachs and
Vestar Capital Partners. Hearthside is the nation's largest independent bakery, producing a variety of nutrition bars, cookies, cereals,
baked foods and snacks at 25 manufacturing facilities across the
US and Europe.
Once the transaction is finalized, Charlesbank and Partners
Group said they plan to collaborate with Hearthside's management
team on several value creation initiatives. Within their plan will
be a stepped-up focus on promoting organic growth by providing
customers with a wider range of product solutions, executing select
bolt-on acquisitions to further expand the business into adjacent
industries and geographies, and optimizing existing manufacturing processes.
"By combining flexibility and innovation with quality and scale, we
have been able to achieve our vision of transforming Hearthside into
one of the leading and fastest-growing companies in the food industry," said Rich Scalise, co-founder, chairman and CEO of Hearthside.
Campbell Soup creates new
US snacking unit
Campbell Soup Co., Camden, NJ, has completed the acquisition of
Snyder's-Lance, Inc., Charlotte, NC. The Snyder's-Lance portfolio
of products will be integrated along with Pepperidge Farm in the
US to create a unified snacking unit called Campbell Snacks.
"Snyder's-Lance represents a strategic and transformative acquisition for Campbell, creating a $10 billion company with nearly
half of our annual net sales in the faster-growing snacks category,"
said Denise Morrison, president and CEO of Campbell Soup. "The
combination of Campbell and Snyder's-Lance creates a unique,
diversified snacking portfolio of differentiated brands and a large
variety of better-for-you snacks for consumers. I am excited about
the combination and confident that it will create significant shareholder value through both revenue growth and cost synergies."
Campbell Snacks will be led by Carlos Abrams-Rivera, who
most recently was president of the US Biscuits and Snacks division.
As part of the transformation, Campbell Soup has selected
leaders from Campbell and Snyder's-Lance to form the Campbell
Snacks leadership team based on their expertise and understanding of how to leverage both businesses to support overall growth
and profitability across the company. Mr. Abrams-Rivera said the
Campbell Snacks team will focus on optimizing the value of its US
snacks business to deepen its partnership with customers.
-Eric Schroeder, Food Business News
16 Baking & Snack May 2018 / www.bakingandsnack.com
GFF's 2017 accomplishments
sustain its 2018 goals
The Grain Foods Foundation (GFF) is bringing more vigor and dedication to 2018 by continuing the growth of its 2017 projects. As a
foundation that believes everyone who loves bread should know grain
loves them back, Christine Cochran, executive director, GFF, said its
mission is to spread this message through scientific research studies,
presentations and social media.
Last year, GFF ramped up its research on the science behind the
nutritional value of eating bread and grain-based products through
its ongoing partnership with the research team at Nutrition Impact.
The foundation also created a video called "Eat a Sandwich" as a rally
cry to support the consumption of bread. The video had more than 84
million impressions, according to GFF.
The launch of the Healthy Aging Campaign, which highlights
the positive impact of grain for people over 50 who desire a healthy
and active lifestyle, was also a success according to Ms. Cochran.
Collaborating with the International Council on Active Aging, the
foundation wrote a series of blog posts that were read by more than
50,000 council members who shared those practices. Additionally,
GFF is expanding its partnerships with the Academy of Nutrition and
Dietetics, International Council on Active Aging and Silver Sneakers.
Intralox debuts NEXT
Intralox, Harahan, LA, hosted its inaugural networking and
educational conference called the Intralox NEXT Conveyance
Innovation Conference in New Orleans.
The event included more than 350 attendees from various industries including baking industry experts from McDonald's, Oak
Brook, IL; Kellogg Company, Battle Creek, MI; Schulze & Burch
Biscuit Co., Chicago; and Starbucks, Seattle, attended. Educational
topics ranged from food safety to operations and distribution trends.
Attendees toured the global Intralox headquarters where the company showcased how it makes its products. Additionally, an Innovation
Showcase at the event featured a trade-show style hall that displayed
Intralox equipment, technology and services. "Our role in innovation
is to develop compelling solutions to help improve our customers' productivity," said Edel Blanks, president, Intralox. "NEXT gives us the
chance to bring leaders from multiple industries together to share ideas
and receive real feedback for the ideas we're showing."