Clorox turns down acquisition proposal from Icahn Enterprises
OAKLAND, Calif. — Clorox has turned down an acquisition proposal from Icahn Enterprises valued at $76.50 per share, the company’s board of directors announced Monday.
Clorox’s board, in consultation with its financial and legal advisers, concluded that the offer "substantially undervalues the company and is neither credible nor adequate," Clorox chairman and CEO Don Knauss wrote to Icahn Enterprises chairman Carl Icahn, adding that Clorox is committed to continued stockholder value creation. The company received the offer July 14.
"Clorox has leading brands that are well-positioned in their categories and continuing to gain market share," Knauss said. "In fact, on an all-outlet retail basis, our U.S. brands have gained significantly more market share than any other branded consumer products company, or private label, in our categories over the last three years."
PepsiCo Beverages Canada unveils 7UP EcoGreen bottle
MISSISSAUGA, Ontario — PepsiCo’s Canada operations has introduced its first soft drink bottle made from 100% recycled PET plastic.
The company said that its 7UP soft drink will be available in the EcoGreen bottle in Canada. With the introduction of the 7UP EcoGreen bottle in Canada, PepsiCo Beverages Canada will reduce the amount of virgin plastic used by approximately 6 million lbs. over the course of one year.
"After three years of research and development, we have cracked the code to commercially develop a soft drink bottle made from 100% recycled PET plastic, and Canada has proudly led the way," PepsiCo Beverages Canada president Richard Glover said. "Consumers want products and packaging that reflects their desire to protect the environment, and PepsiCo is committed to delivering on that with this kind of world-class innovation."
Barbara’s expands Puffins, Snackimals lines with peanut butter, chocolate flavors
PETALUMA, Calif. — Barbara’s has expanded its all-natural products line with new peanut butter and chocolate items.
The brand has introduced new peanut butter and chocolate Puffins, as well as Snackimals in peanut butter and chocolate flavors. Peanut butter and chocolate Puffins cereal is available in a 10.5-oz. package, while both of the new Snackimals flavors are available in a 7.5-oz. resealable pouch or convenient grab-and-go 2.125-oz. bags. All of the new products are free of hydrogenated oils, artificial additives, flavors and preservatives, refined sugar, trans fats and high-fructose corn syrup.
"Peanut butter and chocolate are classic flavors that make a great combination," Barbara’s VP marketing Kent Spalding said. "Today’s consumers, especially moms, are looking for all-natural products without the ‘bad stuff’ like high-fructose corn syrup, artificial flavors, preservatives and hydrogenated oils. With the new additions to our popular Puffins and Snackimals lines, we’re excited to offer families more delicious options that are free of unhealthy ingredients."