FTC approves Smucker’s Folgers acquisition
CINCINNATI & ORRVILLE, Ohio J.M. Smucker will purchase the Folgers brand and business from Procter & Gamble for almost $3 billion worth of stock in a tax-free deal announced last month that the Federal Trade Commission approved Wednesday.
Under the terms of the merger, P&G stockholders will get a 53.3 percent stake in Smucker, which bought P&G’s Crisco and Jif peanut butter brands in 2002.
Cincinnati-based P&G shares were trading at $63.95 on the New York Stock Exchange Thursday.
Consumers recognize Sun Chips’ efforts to go green
PLANO, Texas Frito-Lay reported that Sun Chips’ efforts to use more eco-friendly power sources in the production of its popular whole-grain snack chips are not going unnoticed by the public. Sales of the fast-growing snack chip are taking off, the company announced this week.
Last month, Chicago-based market research provider Information Resources, Inc. reported that Sun Chips sales had increased by 17.6 percent (total $201.8 million) for the 52 weeks ended June 15.
Sun Chips claims it is “living up to its name,” celebrating the successful opening of it’s the new solar energy source at its plant in Modesto, Calif. Frito-lay and Sun Chips have said that the snack chip’s sales are growing because consumers are reacting positively to the company’s “green” energy practices, plus the snack’s mission to be health-wise: a serving of Sun Chips contains 18 grams of whole grain and no trans-fat, in addition to being low in sodium.
Sun Chips increased its media spend adding $15 million this year for the first four months. Last year, Sun Chips spent a total of $11 million on marketing, not including online, the Nielsen Monitor-Plus has reported.
GoodBelly introduces fruity probiotic drinks
BOULDER, Colo. NextFoods, the new company founded by natural foods guru Steve Demos, has announced the launch of its GoodBelly and GoodBelly Multi health fruit drinks.
Launched by organic and natural foods pioneer, Steve Demos, GoodBelly fruit drinks contain probiotics—live bacteria that help control the balance of certain organisms called microflora that reside in the intestinal tract. These live organisms have been shown to help digestion and provide comfort to people in processing foods.
The namesake GoodBelly Probiotic fruit drinks will be available at Whole Foods Markets across the country this month in a 32-ounce quart container. They come in three flavors; black currant, cranberry watermelon and mango and retail for about $3.99.
GoodBelly Multi Probiotic fruit drinks also come in three flavors—blueberry acai, peach mango and strawberry rosehips. GoodBelly Multi will be sold in 2.7-ounce single serving bottles for around $4.49 per 4-pack.