Cibo Vita CEO Named Entrepreneur of the Year in New Jersey
Emre Imamoglu CEO of Cibo Vita, right, accepts the award for New Jersey Entrepreneur of the Year
Emre Imamoglu, CEO of healthy snack food maker Cibo Vita, was named Entrepreneur of the Year, 2022 New Jersey Regional Award Winner, by Ernst & Young at an awards luncheon last month.
Entrepreneur of the Year is one of the preeminent competitive business awards for entrepreneurs and leaders of high-growth companies. Judging was based on commitment to excellence, category diversification and innovation. Factored in the judging were applicants’ responses to questions such as:
- Identifying opportunity to innovate and create a better world
- Demonstrating courage perseverance and resilience to overcoming obstacles
- Inspiring purpose, vision and taking risks
- Identifying strategies for a sustainable future
Forty-two companies from New Jersey vied for this coveted award. As New Jersey Award Winner, Imamoglu is entered into the Nationals. National finalists and winners will be announced in November in Palm Springs, Calif., at EY’s Strategic Growth Forum.
Founded in 2009, Cibo Vita began by producing private label healthy snack products that consisted of dried fruit and nut combinations for supermarkets nationwide. Nature’s Garden, the company’s flagship brand, launched in 2011. BeHonest low-carb, low-sugar chocolates, launched in 2021.
The company mission is to continuously create innovative products that promote functionuality, digestive wellness and heart health, as well as offer products that are energy boosting and address a ketogenic diet.
Cibo Vita features more than 2,000 SKUs with various combinations of nuts, seeds, dried fruit, trail mixes and coated pretzels and chocolates. Cibo Vita products are sold in supermarkets, big box, drug chains, health food and convenience stores as well as warehouse clubs nationwide.
The company holds certifications for Keto, RSPO, UTZ, Kosher, Organic, Paleo and Gluten-Free. Its manufacturing, distribution, product development, warehouse facilities and corporate offices are based in Totowa, N.J. Since 2018, Cibo Vita has enjoyed a compound annual growth rate of 25.4 percent.
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Kraft Launches Rebranded Mac & Cheese
For 85 years, Kraft Mac & Cheese has been America’s original and favorite comfort food. With more than a million boxes sold every day, the cheesy bowls of deliciousness haven’t just filled America’s bellies; they’ve played an iconic role in every stage of people’s lives. Now, Kraft is unveiling a brand identity that includes an updated logo, noodle smile and even a new name that redefines the brand as feel-good food for everyone.
The new look updates all aspects of the brand identity: the name, the logo, brand colors, typography, photography, iconography and packaging. The change from “macaroni and cheese” to “mac & cheese,” is meant to reflect the way fans organically talk about the brand. The iconic blue box now features just a single-color hue of blue and amplifies the brand’s most recognizable asset — the noodle smile, now even more delicious and dripping with creamy, cheesy goodness.
“We know that people aren’t turning to comfort food as a guilty pleasure, they are positively embracing comfort, saying yes to feeling good, saying yes to caring for themselves,” said Victoria Lee, Kraft Mac & Cheese brand manager. “There is a familiar, craveable, positive comfort to Kraft Mac & Cheese that makes it so special and iconic to millions of people across the world and our new look is a reflection of what our brand means to our consumers.”
The new look will appear across social channels and on the website this summer and packaging will start to hit shelves in August.
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Kellogg to Split Cereal, Plant-Based Foods Businesses
Kellogg Company‘s board of directors has approved separating its North American cereal and plant-based foods businesses, via tax-free spin-offs, resulting in three independent public companies, each better positioned to unlock their full standalone potential. The three companies, whose names will be determined later, would be the following:
- Global Snacking Co., with about $11.4 billion in net sales, will be a leading company in global snacking, international cereal and noodles, and North America frozen breakfast, with iconic, world-class brands and strong underlying growth momentum and profitability;
- North America Cereal Co., with about $2.4 billion in net sales, will be a leading cereal company in the United States, Canada, and Caribbean, with a portfolio of iconic, world-class brands and compelling opportunities for investment and profit growth; and
- Plant Co., with about $340 million in net sales, will be a leading, profitable, pure-play plant-based foods company, anchored by the MorningStar Farms brand, with a significant opportunity to capitalize on strong long-term category prospects by investing further in North America penetration and future international expansion.
“Kellogg has been on a successful journey of transformation to enhance performance and increase long-term shareowner value. This has included re-shaping our portfolio, and today’s announcement is the next step in that transformation,” said Steve Cahillane, chairman and CEO. “These businesses all have significant standalone potential, and an enhanced focus will enable them to better direct their resources toward their distinct strategic priorities. In turn, each business is expected to create more value for all stakeholders, and each is well positioned to build a new era of innovation and growth.”
In recent years, the company has transformed its portfolio into one that has expanded geographically and shifted toward growing businesses, particularly in snacking categories. To achieve this, it has directed resources and investments toward growth categories and markets around the world, made several acquisitions and partnerships in emerging markets, and strengthened its snacks business through acquisitions, divestitures, and the freeing up of resources by exiting from direct-store delivery. The successful execution of these actions has expanded Kellogg’s portfolio, resulting in a scaled global snacking business and significant emerging markets presence, complemented by strong and profitable breakfast and plant-based foods businesses. The outcome of these strategic actions has been improved growth in recent years, with momentum sustained into 2022.
After several years of transformation and improving results, the company believes it is the right time to separate these businesses so they may pursue their particular strategic priorities.
As independent companies, all three businesses will be better positioned to:
- Focus on their distinct strategic priorities, with financial targets that best fit their own markets and opportunities;
- Execute with increased agility and operational flexibility, enabling more focused allocation of capital and resources in a manner consistent with those strategic priorities;
- Realize improved outlooks for profitable growth; and
- Shape distinctive corporate cultures, rooted in Kellogg Company’s strong values, and rewarding career paths for employees of each company.
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