Alkaline Water Taps Lazaran as CEO
The Alkaline Water Company Inc. has appointed Frank Lazaran, a current director and 40-year veteran of the retail food industry, as CEO.
Lazaran was most recently the chairman, CEO and president of Marsh Supermarkets and, served as the CEO, president and director of Winn-Dixie Stores. Lazaran has a proven track for delivering operational excellence with extensive leadership experience in scaling organizations in the retail sector.
Richard Wright has resigned from his positions of CEO, president and a director of Alkaline Water effective immediately.
For updates on the specialty food and beverage industries, subscribe to Gourmet News.
General Mills to Sell Helper, Suddenly Salad to Eagle
General Mills has entered into a definitive agreement to sell its Helper main meals and Suddenly Salad side dishes businesses to Eagle Family Foods Group, a portfolio company of Kelso & Company, in a cash transaction valued at approximately $610 million. The proposed transaction is expected to close in the first quarter of fiscal 2023, subject to regulatory approval.
“With this divestiture, we are continuing to reshape our portfolio and advance our Accelerate strategy,” said Jon Nudi, General Mills group president, North America Retail. “This transaction improves our North America Retail segment’s growth profile and allows us to increase our focus on brands and categories where we have the best opportunities to drive profitable growth.”
Net sales for the Helper and Suddenly Salad businesses totaled approximately $235 million in fiscal 2021. The company expects the divestiture to be dilutive to its adjusted earnings per share in the range of approximately 10 to 11 cents in the first 12 months after closing, before factoring in any potential benefit from the use of proceeds from the sale. The company will provide more information on the transaction on its fourth quarter earnings call in late June.
Goldman Sachs & Co. LLC served as financial adviser to General Mills for the transaction and Cleary Gottlieb Steen & Hamilton LLP served as legal adviser.
Subscribe to Gourmet News for updates on the specialty food industry.
Barry Callebaut Adds Dairy-Free Organic Chocolate
Barry Callebaut, a leading manufacturer of high-quality chocolate and cocoa products, is expanding its plant-based Plant Craft portfolio by adding dairy-free organic chocolate to its North American line.
Eighty-one percent of consumers are seeking chocolates that not only taste great but are also “good for me and good for the planet,” according to Barry Callebaut’s new report, “The Future of Indulgence,” which was unveiled at the Sweets & Snacks Show May 24.
Dairy-free organic chocolate joins the Plant Craft portfolio including the recently launched dairy-free compound, classic dairy-free chocolates, and cocoa powders. The portfolio also includes nut solutions and Cacaofruit Experiences – the pulp, juice and concentrate directly from the Cacaofruit. The Plant Craft range includes solutions for confectionery, bakery, ice cream applications and beyond.
For more specialty food industry news, subscribe to Gourmet News.