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Pinnacle Foods rings NYSE Opening Bell to celebrate first day as public company

BY Jason Owen

NEW YORK — Parsippany, N.J.-based Pinnacle Foods — manufacturer and distributor of such food brands as Birds Eye, Duncan Hines, Vlasic, Mrs. Butterworth’s and others — opened for trading Thursday on the New York Stock Exchange under the ticker symbol “PF” after its initial public offering.

CEO Bob Gamgort, along with members of Pinnacle Foods’ leadership team, celebrated the company’s first day of trading by ringing the NYSE Opening Bell and visiting the trading floor to observe the stock opening.

“We’re excited to welcome Pinnacle Foods and its family of iconic brands to the New York Stock Exchange,” said Scott Cutler, EVP and head of global listings at NYSE Euronext. “Through innovation and a focus on excellence, Pinnacle Foods’ products continue to grace the nation’s households after more than 150 years. We congratulate Pinnacle Foods on its IPO and are proud to partner with the company as it embarks on its journey as a publicly traded company.”

“I am honored to represent all employees of Pinnacle Foods who have worked tirelessly to make this day a reality,” said Pinnacle Foods CEO Bob Gamgort. “By reinvigorating our portfolio of iconic brands, we have built a company that can satisfy the needs of our consumers, partner with our retailers and create value for our investors. We look forward to continuing to build the value of this great company for years to come.”

Barclays Capital is the Designated Market Maker for the company’s stock.

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Coca-Cola seeks patent on new sugar-free fiber drink

BY Jason Owen

ATLANTA — Coca-Cola has filed a patent application with the U.S. Patent and Trademark Office for a new sugar-free beverage with added fiber, according to a report from the Atlanta Business Chronicle.

As the patent noted, "the present invention relates generally to the field of beverages and beverage concentrates. In particular, the invention relates to a novel sugar-free beverage concentrate with fiber."

The Chronicle noted, the new drink can be either carbonated or noncarbonated and also can be frozen and used in any known beverage dispenser.

Coca-Cola’s preferable goal, as the application noted, is to have the fiber content of the concentrated beverage from between 15% and 25% in a weight/volume percentage, but may vary from as little as 0.1% to about 30%. "The fiber content of the sugar-free beverage concentrate is present in a weight/volume percentage of between about 0.1% and about 30%, preferably between about 1% and about 25%, more preferably between about 10% and about 25% and even more preferably between about 15% and about 25%."

Consuming the recommended amount of dietary fiber in a daily diet is an important part of a healthy diet, according to some health experts. As the Mayo Clinic noted, fiber can help lower cholesterol levels, helps control blood sugar levels and also can help to maintain a healthy body weight.


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Giant-Carlisle collects $587,545 for hunger relief in late February, early March

BY Alaric DeArment

CARLISLE, Pa. — Ahold USA’s Giant-Carlisle banner raised nearly $600,000 for a hunger relief program in February and March, the supermarket chain said.

Giant-Carlisle said customers at Giant Food Stores and Martin’s Food Markets donated $587,545 as part of the Bag Hunger campaign between Feb. 24 and March 9. Another campaign will take place in September.

"Hunger is a reality for far too many, affecting 1-in-6 Americans," Giant-Carlisle president Rick Herring said. "We are thankful for the generosity of our customers, associates and vendors who donated to our recent Bag Hunger campaign."

The donated food will be presented to food banks in Pennsylvania, Maryland and Virginia, the company said.

 

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