Tag: Kraft Heinz

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The Kraft Heinz Company has announced that the Company’s Board of Directors has appointed Miguel Patricio as Chief Executive Officer effective July 1, 2019.

Mr. Patricio will succeed Bernardo Hees, who will remain CEO through June 30, 2019, to ensure a seamless transition.

“Miguel is a proven business leader with a distinguished track record of building iconic consumer brands around the globe, driving top-line revenue growth through a focus on consumer-first marketing, innovation, and people development,” said Alex Behring, Chairman of Kraft Heinz’s Board of Directors.

“I want to personally thank Bernardo Hees for leading the Company through its first phase,” said Marcel Herrmann Telles, a member of Kraft Heinz’s Board of Directors. “I’ve worked with Miguel over the course of the past 20 years, and he is a natural business leader. From attracting and nurturing the best talent to leading the turnaround of the AB InBev China business into the phenomenal success it is today, Miguel has one of the best brand-building minds in the industry.”

A native of Portugal, Mr. Patricio will join the Company after a successful career spanning two decades at Anheuser-Busch InBev (AB InBev), where he served as part of the Executive Leadership team in various positions, driving organic growth and industry-leading margins.

At AB InBev, Mr. Patricio served as the Global Chief Marketing Officer from 2012 to 2018. In this role, he helped develop and implement a strategic playbook for global brands Corona, Budweiser and Stella Artois, accelerating organic sales growth to high single digits. This represented more than one-third of AB InBev’s organic growth and accounted for more than 20 percent of AB InBev’s 2018 year-end global revenues. In his final year as chief marketer, AB InBev was the most awarded brand owner at Cannes Lions 2018, the global benchmark for effective creative marketing communications.

Prior to that, he was AB InBev’s President of Asia Pacific from 2008 to 2012 and President of North America from 2006 to 2008, providing him with deep experience in growing businesses in developed and emerging markets.

As President of Asia Pacific, Mr. Patricio set the foundation for the growth of the China business by defining a long-term strategy focusing on the premium market, growing Budweiser to become the leading brand in China, and expanding the growth of local brands such as Harbin. This led to the transformation of AB InBev Asia Pacific, which grew from revenues of $1 billion in 2008 to $2.7 billion in 2012, making it the number one beer company in China. Asia Pacific now represents approximately 15 percent of the company’s global revenue and 18 percent of global volumes.

Prior to AB InBev, Mr. Patricio has worked at other consumer companies including Philip Morris, The Coca-Cola Company and Johnson & Johnson in Latin America, New Jersey, and Georgia.

“Kraft Heinz is an incredible company with iconic brands that are loved around the world,” Mr. Patricio said. “It will be a privilege and an honor to lead such a talented group of employees as we focus on the consumer to capitalize on the growth opportunities that exist in the rapidly evolving food industry.”

“I would like to thank Bernardo personally, and on behalf of the Board, for his many contributions to Kraft Heinz over the last six years,” Mr. Behring added. “He helped transform the food industry by leading the acquisition of Heinz in 2013 and the merger of Kraft and Heinz in 2015. Under Bernardo’s tenure, Kraft Heinz achieved industry-leading margins and sales performance in line with its U.S. peers, developed an organization with best-in-industry quality standards, and built in-house capabilities for category management, including revenue and assortment management. We appreciate his contributions.”

“It has been an honor to serve as CEO of Kraft Heinz and to see it through its transformation over the last six years,” said Mr. Hees. “I have confidence that Miguel and the team will take Kraft Heinz to new heights.”

© 2019 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past

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Kraft Heinz’s Springboard, a brand innovation platform launched by the company in 2016 to nurture, scale, and accelerate growth of disruptive brands, has announced its second Incubator Program class.

The program was created to help nurture and develop the next generation of food & beverage brands, while staying close to entrepreneurs, new ideas and consumer trends.

The second Incubator class continues the vision and includes Blake’s Seed Based, BRAMI, Ka-Pop! Ancient inGRAINed Snack Co™, Origin Almond®, and Tiny Giants.

All Incubator teams fall strongly within at least one of the Springboard committed growth pillars: Natural & Organic, Specialty & Craft, Health & Performance, and Experiential brands. Over the course of the next 16 weeks, the selected startups will participate in a dynamic program composed of learning, funding, infrastructure access, and mentorship in Chicago, IL.

Springboard is also announcing the application period for the third incubator class is open now until June 14th for the fall program which will take place August 5th through November 22nd.

Keep an eye out for:

Growing up with a deathly nut-allergy, Founder, Blake Sorensen, was frustrated with the lack of allergen-free snack options on the market. So, he began to make bars in his kitchen, using seeds instead of nuts. Blake quickly realized people with and without food allergies enjoyed them. Blake’s Seed Based mission is to make seed based, Top 8 Allergen-Free snacks accessible to everyone. Blake’s Seed Based products are not only delicious and safe for most eat, but they also donate a bar to a school in need for every box purchased. All great reasons to try Blake’s today!
https://www.blakesseedbased.com/

In their Brooklyn test-kitchen, BRAMI reimagined lupini beans, a fresh legume snack beloved in the Mediterranean since Ancient Roman times. BRAMI beans are packed with plant protein and fiber with a fraction of the calories, carbs, fat and sugar of other snacks, so you can satisfy your hunger without compromising your diet. Marinated and packaged fresh out of the pickling barrel, BRAMI offers one of the few shelf-stable snacks that isn’t baked, dried or fried, and something totally differentiated to the growing functional snack category.
https://bramisnacks.com/

Ka-Pop! Ancient inGRAINed Snack Co™ has the mission to always be tasty, nutritious, and satisfying. Founder, Dustin, was tired of compromising taste for boring, empty, better for you snacks, so he created his own. Ka-Pop! is delicious and powered by ancient grains to bring fun and nutrition together. Ka-pop! wants you to save your snack time from boring “good for you” snacks that don’t deliver on taste and to replace those empty calories with protein, fiber, omega-3s, potassium, and vitamins. Take that regular snacks, and try Ka-Pop!
https://kapopsnacks.com/

Origin Almond® believes the first step to better health is the reduction of excess sugars, especially the hidden sugars found in perceived healthy foods such as fruit juices. Founder, Jake Deleon, had a unique solution: Juice almonds instead of sugary fruits! Origin Almond® uses cold-press technology to extract the liquid essence of almonds. This Cold-Pressed Almond Juice offers the fresh & lightly sweetened taste of premium fruit juices minus the excess sugar & carbs. Each flavor contains as low as 1g of sugar per bottle and is infused with a rainbow of superfoods and adaptogens to provide added functional benefits. Love juice again with Origin Almond® and see why almonds make for better juice! Origin Almond® is a certified Minority Business Enterprise (MBE).
https://www.originalmond.com/

Danielle Calabrese, mom of two and CPG entrepreneur, enlisted help from friend and Chef, Gregg Drusinsky to create a delicious and sustainable plant based snack brand for future-forward kids and parents. Together, they built a fun and empowering brand to fuel the superheroes of tomorrow. Their first product is a plant based yogurt that is certified organic and non GMO with no added sweeteners. Tiny Giants believes that healthy bellies equals happy kids and they are on a mission to change the way kids snack.
https://tinygiantsfood.com/#shopify-section-1534600654784

“We had an incredibly competitive group of applicants. All five companies in our second Incubator class offer delicious products that cater to the better-for-you offerings consumers are demanding,” said Kelly Reinke, Springboard Incubator Lead. “Springboard exists to help shape the future of food, and we are confident our next class does just that.”

© 2019 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

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The Kraft Heinz Company completed the sale of Indian brands Complan, Glucon-D, Nycil and Sampriti to Zydus Wellness Limited and its affiliates.

“The sale of this niche business fits into our overall global growth strategy and our focus on investing in and growing brands within our core categories, and where we see a clear path to sustainable competitive advantage,” said Bernardo Hees, Chief Executive Officer of Kraft Heinz.

Under the terms of the agreement, Kraft Heinz sold to Zydus Wellness Limited and an affiliate 100% of its equity shares in Heinz India Private Limited, which is comprised of Complan, Glucon-D, Nycil and Sampriti brands, and two manufacturing facilities, with approximately 760 employees associated with these brands and operations.

© 2019 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

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Kraft Heinz has launched Evolv Ventures, a venture fund that will invest in emerging tech companies transforming the food industry.

Kraft Heinz has committed up to $100 million to Evolv Ventures and brought on venture investor Bill Pescatello to lead the fund.

“New technological innovations in the food industry create endless new opportunities to strengthen business models,” said Bernardo Hees, Chief Executive Officer at Kraft Heinz. “Through Evolv Ventures, we will work with tomorrow’s most innovative founders and companies in the space, and use the full resources of Kraft Heinz to help them succeed.”

Pescatello brings more than a decade of successful venture investing experience at two leading venture funds to Kraft Heinz. Most recently, he was a Partner at Lightbank, the Chicago venture capital fund founded by serial entrepreneurs Eric Lefkofsky and Brad Keywell, and was also a founding member of the Peacock Equity Fund, a $250 million global capital fund of GE Capitaland NBCUniversal.

While Kraft Heinz has a long history of developing iconic brands including Philadelphia, Heinz and Oscar Mayer, the new fund will accelerate the company’s exposure to emerging technologies and businesses, and better leverage its position in the industry.

“At Evolv Ventures, we will move beyond brands to have a committed first look at our industry’s most promising and disruptive tech-enabled companies,” said Pescatello. “With the insights, data and access available at Kraft Heinz, we look to take full advantage of our unique position and be the foremost value-added investor in the space.”

Evolv Ventures will be based in Chicago.

© 2018 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.

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Kraft Heinz is putting £20 million into its production facility in Kitts Green near Wigan, UK.

According to Kraft Heinz, the investment expands the production capacity for its canned good products, including soups, baked beans, spaghetti, and its Snap Pots microwavable, quick-serve products.

The upgraded facility adds a high-speed production line capable of filling 1,200 cans with beans or soup a minute, and a new triple-pack can packaging line and a high-speed weigh filling line.

The Kitts Green site is already one of the largest canned food production facilities in Europe, and produces 383,000 tons of products every year even before the expansion.

© 2018 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.