2012 Top 100: Food
Big break-up headlines rocked the food industry in 2011. But the market overall reported growth across the board. Expect big changes on this list next year.
Nestl
A core value at Nestl is to deliver short-term performance, regardless of market challenges, while remaining focused on the longer term. This value was realized in 2011 by the company’s delivery of 7.5 percent sales growth while investing in longer-term growth platforms. Strategic initiatives included the creation of Nestl Health Science, two major partnerships in China, and significant investments in Russia, India and many African and Latin American countries. Also, the company continued to invest in developed markets like Western Europe and North America for increased capacity to support winning innovations in categories such as PetCare, Soluble coffee and Culinary. The momentum continues in 2012 with a strategic move to acquire Pfizer Nutrition for $11.85 billion.
Kraft Foods Inc.
The “Breakup of the Year” award goes to Kraft Foods Inc., which changed its name to Mondelez International and spun off its North American grocery business, Kraft Foods Group Inc., in October 2012. At press time, the newly independent Kraft Foods Group reported strong third quarter 2012 results with top- and bottom-line growth. Meanwhile, top-line growth in the third quarter of 2012 for Mondelez International was modest, reflected the lapping of exceptional performance in the third quarter last year and a lower contribution from pricing. “Growth in our core categories continues to be robust. And we remain confident in our ability to deliver our 2013 and long-term targets,” said Irene Rosenfeld, chairman and CEO, Mondelez International; which begs the question: where will these two companies land on CGT’s lists next year?
Sara Lee Corporation
Sara Lee Corporation confirmed plans to split its food and beverage businesses into two separate companies in 2011. Today, The Hillshire Brands Company is one of the nation’s leaders in meat-centric food solutions for the retail and foodservice markets. With brands such as Jimmy Dean, Ball Park, Hillshire Farm and Sara Lee, it generates nearly $4 billion in annual sales. The spin off of D.E MASTER BLENDERS 1753 was officially complete June 2012. It now operates as a pure-play coffee and tea company, and generated sales of more than $2.7 billion in fiscal year 2012.
Nestl
A core value at Nestl is to deliver short-term performance, regardless of market challenges, while remaining focused on the longer term. This value was realized in 2011 by the company’s delivery of 7.5 percent sales growth while investing in longer-term growth platforms. Strategic initiatives included the creation of Nestl Health Science, two major partnerships in China, and significant investments in Russia, India and many African and Latin American countries. Also, the company continued to invest in developed markets like Western Europe and North America for increased capacity to support winning innovations in categories such as PetCare, Soluble coffee and Culinary. The momentum continues in 2012 with a strategic move to acquire Pfizer Nutrition for $11.85 billion.
Kraft Foods Inc.The “Breakup of the Year” award goes to Kraft Foods Inc., which changed its name to Mondelez International and spun off its North American grocery business, Kraft Foods Group Inc., in October 2012. At press time, the newly independent Kraft Foods Group reported strong third quarter 2012 results with top- and bottom-line growth. Meanwhile, top-line growth in the third quarter of 2012 for Mondelez International was modest, reflected the lapping of exceptional performance in the third quarter last year and a lower contribution from pricing. “Growth in our core categories continues to be robust. And we remain confident in our ability to deliver our 2013 and long-term targets,” said Irene Rosenfeld, chairman and CEO, Mondelez International; which begs the question: where will these two companies land on CGT’s lists next year?
Sara Lee CorporationSara Lee Corporation confirmed plans to split its food and beverage businesses into two separate companies in 2011. Today, The Hillshire Brands Company is one of the nation’s leaders in meat-centric food solutions for the retail and foodservice markets. With brands such as Jimmy Dean, Ball Park, Hillshire Farm and Sara Lee, it generates nearly $4 billion in annual sales. The spin off of D.E MASTER BLENDERS 1753 was officially complete June 2012. It now operates as a pure-play coffee and tea company, and generated sales of more than $2.7 billion in fiscal year 2012.