Milling & Baking News - June 14, 2022 - 20

CAMPBELL SOUP CO. AND SWEETMORE BAKERIES
TUES | 06 14 202 2
Goldfish new product sales please
Campbell Soup CEO Mark Clouse
CAMDEN, NJ. - Goldfish consumption
in the third quarter ended May 1 was up
8% when compared to the previous year's
third quarter and up 18% on a three-year
basis, said Mark A. Clouse, president and
chief executive officer of the Campbell
Soup Co., in a June 8 earnings call.
The fourth quarter should receive a boost
from Old Bay Seasoned Goldfish, launched
in May through a partnership between
Campbell Soup and McCormick & Co.
" We quickly created a buzz among a
passionate consumer base, logging more
than 1 billion impressions in 48 hours, "
Mr. Clouse said. " The product sold out
within nine hours on Shop McCormick,
with velocities very strong across all
retail outlets. "
Sales were strong as well for Goldfish
Family Size and Goldfish Mega Bites, he
said.
" Family Size is overdelivering across all
metrics, with strong velocity, distribution
and trial, " Mr. Clouse said. " Goldfish Mega
Kraft Heinz CEO identifies three
qualities to effective supply chain
NEW YORK - Managing the supply
chain over the past several years has been
a challenge for most food manufacturers,
and Kraft Heinz Co. has experienced difficulties.
To
survive in the current environment
companies must be resilient, Miguel
Patricio, chairman and chief executive
officer of Kraft Heinz, said during a June
2 presentation at the Sanford C. Bernstein
Strategic Decisions Conference.
" For resilience, we need to do a lot in the
sense of inspiring this crowd, " he said.
A second key quality is predictability,
Mr. Patricio said.
" It's hard to predict today this world but
predictability is critical, " he said. " I'll give
you an example. A current example, it's
happening right now. So we predicted that
we would face a shortage of bean gum.
Bean gum is the product that gives consistency
to ice cream and to cream cheese -
Philadelphia Cream Cheese. "
Mr. Patricio said because Kraft learned
Three baking companies unite as
Sweetmore Bakeries
CHICAGO - Main Street Gourmet, Biscotti
Brothers Bakery and Meurer Brothers
Bakery have been united under a new
brand identity: Sweetmore Bakeries.
The foundation for the new business
was set in 2019 when Shore Capital Partners
recapitalized Main Street Gourmet
and began investing in the business
20 MILLING & BAKING NEWS
development, sales and marketing, and
production infrastructure of the
Akron, Ohio-based custom
wholesale baking company. A
year later, Main Street Gourmet
acquired Greensburg,
Pa.-based Biscotti Brothers,
a wholesale baking company
Bites continues to outpace our target and
overdeliver on our expectations, driven
by strong velocity, trial and repeat rates.
Our strategy to broaden our consumer
base is working, as evidenced by more
than half of buyers being households
without children and Mega Bites performing
well with older consumers. "
The Goldfish brand is within Campbell's
snacks segment, which saw net sales
increase 8% to $999 million in the third
quarter. Organic net sales also were up 8%.
Sales increased in salty snacks, primarily
Snyder's of Hanover pretzels and Kettle
Brand potato chips, and in cookies and
crackers, primarily Goldfish crackers.
Net earnings attributable to Campbell
Soup Co. companywide were $188 million,
or 62¢ per share on the common stock,
which was up 18% from $160 million, or
55¢ per share, in the previous year's third
quarter. Net sales increased 7% to $2.13
billion from $1.98 billion. MBN
Morocco would not have a large crop, the
company built up a large gum inventory.
" That's predictability, " he said. " The
result is we're gaining a lot of share in
cream cheese. "
The third and final key quality to a successful
supply chain is adaptability, Mr.
Patricio said.
" I mean, with shortage on raw materials,
you have to adapt every day and very
fast, " he explained. " Our salad dressing
was made with sunflower oils. And 80% of
that is made (with what) was coming from
Ukraine. So just we have to adapt our
farmers. We have to adapt our labels. This
level of adaptability on every day, we need
to be very fast. " MBN
focused on specialty cookies such as biscotti
and pizzelle for the retail in-store
bakery. Then, in late 2021, Main Street
Gourmet acquired Meurer Brothers Bakery,
Fond du Lac, Wis. Meurer Brothers
Bakery is a third-generation manufacturer
of premium pastries for in-store
bakery customers, making it a
nice fit to Main Street Gourmet's
business of supplying
premium baked goods to ISB,
restaurant, club and convenience
stores. MBN
bakingbusiness.com
http://www.bakingbusiness.com
Milling & Baking News - June 14, 2022

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