Anheuser-Busch CEO addresses investors about energy drinks
BOSTON Last week, Anheuser-Busch chief executive officer August A. Busch IV told investors that though the alcohol industry has changed at an unprecedented rate, the company is welcoming the change.
At the Lehman Brothers Conference, the company said that by promoting its line of energy drinks and waters, and upgrading packaging on one of its beers, consumers will continue driving the marketplace, giving them an opportunity for growth.
Though they are the leading beer distributor and importer in the United States, Anheuser-Busch said that the energy drink market exhibits strong growth potential. After introducing the energy drinks back in 2001, and receiving an overwhelming response, a 37% increase so far this year, they continue to create more flavors. Its most recent was180 Red with Goji, cherry energy drink that hit shelves in February. Anheuser-Busch joined up with Hansen Natural Corp. last year to increase in this segment of business.
Additionally, Busch announced that adaptation and evolution of its Michelob beer by upgrading the packaging and teardrop bottle to “better reflect the quality and heritage of the Michelob [brand].”
“Beer is still the number one choice,” said Busch, adding that beer makes up for 57% of alcohol servings. “[We are] meeting the brands of changing consumers… changing what we sell and how we sell it.”
Management also developed a business tactic dubbed “Project Blue Ocean,” a plan driven to increase savings and improve quality of production. It is said to target $300 to $400 million in cost savings over the next four years.
Just Born promotes Petronio to EVP and COO positions
BETHLEHEM, Pa. Just Born’s vice president of customer and brand development has been promoted to executive vice president and chief operating officer, the company announced Tuesday.
Matt Petronio, who has been an employee of Just Born for the past five years, acquired his position after the company’s current president and chief operating officer, Samuel Torrence, announced his retirement the same day. Torrence is said to keep is position as president until his departure in June 2008.
In addition to working at Just Born, Petronio has served in various management positions at Procter and Gamble, M&M/Mars, and Farmland Dairies.
“Matt and his team have significantly improved our Brand’s performance in the market and strengthened our relationship with our customers and consumers,” said co-chief executive officer Ross Born of the decision. “We are confident he will build upon the momentum already achieved.”
Just Born, a privately owned confectionery, develops sweets like PEEPS Marshmallow Candies and PEANUT CHEWS, and associates and markets its candy in over 50 countries.
Wrigley’s releases three new tropical flavors
CHICAGO As the summer draws to a close, the Wm. Wrigley Jr. Company has developed new tropical flavors for three of its most popular chewing gums, the confectionary giant announced Thursday.
Wrigley’s Eclipse FusionTM, Hubba Bubba MaxR, and Orbit WhiteR, have expanded their product lines with new blended fruit flavors. Eclipse FusionTM has developed a Freshmint Tropical flavor; Hubba Bubba MaxO has unveiled its new flavor called Island PunchTM, and Orbit WhiteR will give mouths “a good, clean feeling” with its new Melon BreezeTM. All flavors are currently available nationwide, with prices ranging from $0.59 to $2.99, depending on packet size.
The Wm. Wrigley Jr. Company, a recognized leader in confections with a wide range of product offerings including gum, mints, hard and chewy candies, lollipops, and chocolate, boasts global sales of nearly $4.7 billion and distributes its world-famous brands in more than 180 countries.
“Wrigley is committed to keeping our brands fresh and to offering our consumers new and exciting products,” said Paul Chibe, Vice President of U.S. Marketing. “Gum-lovers are looking for bold, fruit flavors and we are pleased to give consumers these new flavor combinations to satisfy their taste buds.”