P&G creates new company for the Folgers Coffee brand
CINCINNATI Proctor & Gamble announced plans to separate its coffee department into an independent company, which will be named The Folgers Coffee Co. The company will have four different locations, one of which will also be the headquarters in Cincinnati, Ohio. It will employ 1,250 employees, adding to what P&G feels is, according to published reports, “good for the coffee business, as the business will get greater priority and attention as a standalone company”
This new venture has been put in place as a result of its major earnings in 2007, which include sales of about $1.6 billion. By separating the coffee business as its own independent company, P&G is hoping to make Folgers, which is the leading retail coffee brand in North America, the focus of its own company. As A.G. Lafley, chairman of the board and chief executive officer stated, “This separation allows us to focus on our core businesses and The Folgers Coffee Co. to further develop and leverage its brand portfolio in a coffee-specific business model.”
To start off Folgers’ new business venture, P&G has named Jamie Egosti, current president of P&G’s Coffee and Global Snacks division, chief executive officer of The Folgers Coffee Co. The split of P&G and Folgers is set to be completed between July and December 2008, but will not do so until the company decides the form of separation, which would be either a spin-off or split-off transaction. The final decision for the two separation options will be finalized during the April-June 2008 quarter.
With big game coming up, Coors Light appeals to Latino football fans
PHOENIX As official beer sponsor of the NFL, Coors Light will be helping to kick off Super Bowl XLII with a pre-game show aimed specifically at Latino NFL football fans.
The company is presenting on Feb. 2 Tazon Latino II (Latino Bowl II), the second annual nationally televised flag football game featuring former NFL players and Latino celebrities. As an added benefit for Arizona’s Hispanic community, each touchdown scored during Tazon Latino II, will mean a donation by Coors of 1,000 to the Arizona Hispanic Chamber of Commerce to promote leadership development.
“Tazon Latino II is the premier Latino Super Bowl event,” Mauricio Cardenas, Coors’ chief officer for Latin America and U.S. multicultural markets, said. “It provides a unique and exciting football experience for Latino consumers. … Supporting the development of leadership skills in the community will ensure the community’s strength in the future.”
Following the game, Coors will present a check to Harry Garewal, president and chief executive officer of the Arizona Hispanic Chamber of Commerce.
Tazon Latino II will be hosted by Telemundo personalities Karim Mendiburu, Edgar Lopez and Alejandro Blanco and will be televised on Telemundo on 2 p.m. EST, 2 p.m. PST and 1 p.m. CST. Ex-NFL game participants include Marcus Allen, Rocket Ismail, Randall Cunningham, Wayne Chebret, Eric Dickerson and Fuad Reveiz. Participating Latino celebrities include Carlos Ponce, Aylin Mujica, Miguel Varoni, Julissa Bermudez, Vanesa Hauc, Alex Sirvent, Kat DaLuna and Baby Bash. Bill Gramatica and Jamal Anderson will be the live announcers in Spanish and English, respectively. The halftime show will include pop band Camila.
The game, filmed in Phoenix on Jan. 30 at the NFL Experience, also offers the opportunity for four consumers to sit on the field sidelines with the players. For a chance to win tickets to Tazon Latino II consumers can visit participating retailers.
Reese’s to lead candy campaign for summer Batman movie
HERSHEY, Pa. The Hershey Co.’s Reese’s brand will partner with Warner Bros. Pictures to promote The Dark Knight, the studio’s sequel to the hit Batman Begins, set for release in July.
Among the candies that will carry images from the movie beginning in June are Special Edition Reese’s Peanut Butter Cups, Reese’s Pieces candy and Kit Kat bars. The brand will also offer two movie-specific products: Reese’s Milk Chocolate Peanut Butter Bats and Reese’s Dark Peanut Butter Bats. Special Edition Kit Kat Dark Knight Bars will feature an engraved Bat Signal on standard and king size bars.
The campaign will also feature prizes for consumers and millions of dollars in advertising.