Processed Food – Page 19

How Splash Wines Grew Over 3,000% with Aion

Rob Imeson is the Founder and CEO of Splash Wines. Splash Wines is a direct-to-consumer wine company that provides great wine at affordable prices, and delivers it directly to your door.

CHALLENGE

Splash Wines was founded in 2014 as a family-run business with generations of history in the wine industry.

“As the business grew, we started seeing opportunities to accelerate our growth.”

Splash had large orders coming in and wanted to buy inventory in larger quantities. The Splash team was growing, too. An expanding customer base introduced a new need for additional team members.

We needed to meet the increased demand and take advantage of new growth opportunities.

Splash’s founders knew they didn’t want to give up equity in the business or use a short-term solution.

“We were growing too quickly and our capital needs would continue to evolve in the coming months. We needed a financing partner that was going to help with our immediate need for cash, but also grow with us.”

SOLUTION

In the process of searching for flexible debt financing solutions, Splash Wines came across Aion. After discussing their needs and carefully evaluating their finances, Aion provided a tailored proposal. Based on Splash’s revenue, growth, projections, and goals, Aion determined that a revolving line of credit was the best option for their situation.

Aion’s asset-based lending can be backed by inventory, invoices, or a combination of the two. This worked out well for Splash because, as a direct-to-consumer business, traditional invoice financing wouldn’t have provided the funds they needed at a cost that made sense.

We decided to move forward with Aion because the cost of funds was competitive and the team was invested in our story and goals as much as the numbers.

Splash started out with a small line of about $300,000. This provided the funds they needed to cover cash flow gaps and run the business efficiently.

“From the people to the platform, our onboarding experience with Aion was seamless. The team was transparent about the requirements and their technology was intuitive and easy to use.”

RESULT

“Partnering with Aion has paid off tremendously for Splash. In addition to covering cash flow gaps and fueling our growth, Aion has been extremely flexible as our business needs have changed.”

When the pandemic hit, Splash Wines experienced unexpected explosive growth.

“Our revenue tripled in just a few months and we quickly outgrew our current line of credit. Aion was quick to respond and increase our credit limit.”

When Splash had an unanticipated opportunity to purchase a significant amount of inventory at a much reduced price, they were already near their credit limit with Aion.

“We reached out to the Aion team and explained what we were trying to accomplish. They arranged for a short-term line in addition to our current line to ensure we were able to take advantage of this opportunity. “

When we started with Aion we had less than $1M in sales. Today, we’ve grown to over $30M in sales. And our initial $300K line has grown up to $4M.

“Aion’s flexible financing solutions have been a key factor in Splash Wines achieving our remarkable growth. Across our business needs – both expected and unanticipated, – Aion has provided a financing solution we can recommend without reservation.”

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KM Packaging Adds Martin Penney to its Customer Operations Team

KM Packaging is pleased to announce the appointment of Martin Penney as a Customer Operations Specialist.

With extensive experience in customer service and operations management, Martin brings a wealth of knowledge and a passion for excellence that aligns with KM’s commitment to delivering reliable and innovative packaging solutions to its global customer base.

Martin has over 15 years of experience in retail and order management. He has successfully led teams and managed complex logistics in previous roles.

His background includes a decade as a store manager, responsible for hitting key performance indicators and managing costs, and most recently, as an Order Management Officer in the financial technology payments sector.

In his new role at KM Packaging, Martin will manage the customer journey from the time an order is placed until it reaches its destination. He will oversee international shipping logistics, manage stock levels, and ensure that KM’s customers’ needs are anticipated and met efficiently.

AI and automation

Martin said: “I am a member of the team that gets the product to the customer and aims to exceed their expectations. I look forward to growing professionally and embracing the challenges of this role.”

Martin’s key strengths include good problem-solving ability, a background in logistics, and an ability to multitask.

He is particularly passionate about incorporating AI and automation into the company’s systems and processes, which he believes will enhance efficiency and allow colleagues to focus even more on customer-centric tasks.

Outside of work, Martin enjoys playing the guitar, watching football, and juggling! He revealed: “I can juggle with fire, ride a unicycle, and balance a chair on my chin!”

With his diverse skill set and enthusiasm for innovation, Martin is set to be a valuable member of the KM Packaging team.

About KM Packaging

At KM Packaging, we deliver reliable packaging solutions for the produce, ambient, chilled and frozen convenience food markets, as well as for confectionery and snacks. Offering one of the most comprehensive ranges of lidding films available on the global market today, we work closely with customers to find the right packaging solution to ensure their products are protected, presented, and preserved.

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Clyde’s Donuts deliver more through automation

Listen to the episode here or wherever you listen to podcasts:

Clyde’s Donuts, Addison, Ill., was ready to invest in more automation but found itself constrained by its original facility. That’s why the bakery recently opened its second plant in the Chicago metro area.

“We had visited [the International Baking Industry Exposition] and talked to a lot of supplier/vendors over the years and you always see these wonderful automated concepts, and then you come back to a facility where you have space constraints or it’s not the right fit,” said Josh Bickford, president of Clyde’s Donuts. “But we were able to design [the new plant] with this automation in mind or leave enough space for automation in the future.”

In this episode of Since Sliced Bread, Bickford shares how Clyde’s is delivering better donuts thanks to its new facility and its investments in automation.

“We’re able to control our costs better by being more efficient, more accurate and having more consistent product, which provides our customers a much more stable pipeline of delicious donuts,” Bickford said.

Listen to this episode of Since Sliced Bread to learn how Clyde’s Donuts makes the most out of its automation and the lessons other bakeries can take from them.

Since Sliced Bread is available to download on a range of applications, including Apple Podcasts, Spotify or wherever you listen to podcasts. It can also be accessed on Bakingbusiness.com.

Past Episodes

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Kroger says FTC’s effort to block merger with Albertsons is unconstitutional

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Dive Brief:

Kroger announced Monday it filed a motion in the U.S. District Court for the Southern District of Ohio to enjoin the Federal Trade Commission’s administrative proceeding challenging its proposed merger with Albertsons.
Kroger claims that it is unconstitutional for the agency to proceed with both its in-house tribunal and its separate federal lawsuit against the mega-deal.
“[The] FTC has sought to split its challenge to the merger into two separate tribunals in an inappropriate attempt to receive multiple opportunities to litigate the same issues,” Kroger said in the statement.

Dive Insight:

Kroger’s move to block the FTC’s administrative challenge to the merger adds a new dimension to its complex and multipronged effort to push the controversial transaction through in the face of intense opposition from federal regulators, state legal officials, labor organizations and other opponents.

In its motion, filed in a federal court that includes Kroger’s hometown of Cincinnati — the retailer claims that the FTC is acting in violation of the Constitution for two central reasons.

First, Kroger said that the FTC’s use of an administrative law judge to hear the case is improper because the president of the United States cannot remove the judge. Second, Kroger said the FTC is at odds with a Constitutional standard that says the judiciary, not the executive branch, is responsible for adjudicating its private rights to contract with another private party.

Kroger also said that the FTC wants to block the merger for the duration of the administrative hearing, which the company said could last for several years.

An FTC spokesperson declined to comment on Kroger’s motion.

Kroger said both its claims are supported by Supreme Court decisions, adding that it is looking forward to fighting the FTC’s request for a court to block the merger during a legal proceeding due to begin next week in the U.S. District Court for the District of Oregon in Portland.

“We stand prepared to defend this merger in the upcoming trial in federal court — the appropriate venue for this matter to be heard — and we are asking the Court to halt what amounts to an unlawful proceeding before the FTC’s own in-house tribunal,” Kroger Chairman and CEO Rodney McMullen said in a statement.

In addition to the federal case Kroger faces, the attorneys general for the states of Colorado and Washington have each lodged lawsuits seeking to block the deal. Last month, a Colorado judge issued an order temporarily blocking the deal and granting the state’s request for a preliminary injunction. The grocery giants agreed to not consummate their merger until the state court rules on that case.

Kroger said in a recent emailed statement that combining with Albertsons would offer “lower prices and more choices for more customers in more communities, long-term job security, higher wages and more industry-leading benefits for associates, and a strong unionized workforce.”

Kroger said last week that it plans to invest $1 billion in price cuts if it completes the merger — double the amount of its previous pledge — and McMullen reiterated the company’s claim that the merger would be good for consumers and workers in Kroger’s announcement on Monday.

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Campbell starts selling gluten-free soups

CAMDEN, NJ. — The Campbell Soup Co. is expanding its product line with the introduction of two new gluten-free cooking soups.

Available in cream of mushroom and cream of chicken varieties, the additions are aimed at the nearly 20% of American consumers avoiding gluten, according to data from a Campbell consumer survey. The condensed soups are launching in retail locations nationwide throughout the summer for an expected retail price of $1.99.

“Answering the question of ‘what’s for dinner’ can be challenging for those trying to avoid gluten,” said Gary Mazur, vice president of marketing, Soup & Broth, Campbell Soup Co. “Through these new offerings, we’re excited to have our iconic soups help address dietary needs and create even more mealtime moments.”

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The GIANT Company Announces Leadership Appointment

CARLISLE, Pa. – The GIANT Company announced that it has named Rebecca Lupfer senior vice president and chief merchant. In her new role, Lupfer will lead all aspects of merchandising for the company as well as commercial planning and pricing, reporting directly to The GIANT Company’s president, John Ruane. The appointment is effective immediately.

“With nearly 20 years of retail grocery experience spanning nearly all areas of the business, Rebecca brings a tremendous amount of expertise to the table as well as an incredible passion for building strong teams that deliver results,” said John Ruane, president, The GIANT Company. “With her strong knowledge of our business, team, and customers, I know The GIANT Company will continue to be the grocery store of choice for customers and team members alike.”

Lupfer joined Ahold Financial Services in 2005 as a business analyst and held various positions of increasing responsibility before joining Ahold USA in 2016 as a portfolio lead for seasonal merchandising. She joined The GIANT Company in 2018 as director of merchandising planning and over the next six years held various positions including vice president of merchandising – center store, vice president of the company’s Mid-Atlantic division, and most recently, chief financial officer.

Lupfer currently serves on the board of directors for the Central Pennsylvania Food Bank, the Pennsylvania Chamber of Business and Industry, and the Academy of Food Marketing and The Food Marketing Educational Foundation at Saint Joseph’s University in Philadelphia. In addition, she serves as the executive sponsor of the company’s women’s business resource group. Lupfer has received numerous industry and community awards throughout her career, including being a two-time winner of Progressive Grocer’s Top Women in Grocery Award, a 40 Under 40 Award Winner by the Central Penn Business Journal, a City & State PA Above and Beyond Award, a Woman of Excellence by the YWCA of Greater Harrisburg, and was honored by Mass Market Retailers as Person Who Made a Difference. She earned an MBA from Lebanon Valley College and a bachelor’s degree in accounting at the Pennsylvania State University. 

About The GIANT Company

The GIANT Company is a modern, omnichannel grocer with more than 35,000 team members dedicated to serving millions of neighbors and making a difference in local communities across Pennsylvania, Maryland, Virginia, and West Virginia. Founded in 1923 in Carlisle, Pa. The GIANT Company is known locally as GIANT, MARTIN’S, and GIANT Heirloom Market with 193 stores, online grocery services, pharmacies, and fuel stations to meet the ever-evolving needs of today’s customers. The GIANT Company is a company of Ahold Delhaize USA. For more information, visit the GIANT or MARTIN’S websites.

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Inulin Packs Nutritional Punch for Bakery, Snacks

By now it’s no secret that grocery shoppers are increasingly making food purchase decisions based upon an item’s perceived health benefits. In fact, 55 percent of U.S. consumers are seeking information on the value of foods and almost half are comparing labels to select the most nutritious options. [1]

Chief among the most sought-after nutrients is fiber. Decades of research has shown that fiber leads to numerous positive outcomes including decreased chronic disease, increased longevity and improved gut health. [2] Yet the story remains the same: most people aren’t getting nearly enough. Americans get about 15 grams daily, compared to the 25-35 grams of fiber needed for children and adults. [3]

Bakery and snacks have long been strong categories for fiber-enhanced products. In the baking category in particular, there has been recent movement away from traditional fiber-rich ingredients and toward isolated fibers, such as inulin. [4]

Recognized for its prebiotic benefits, inulin is well-established in the market and is among the fastest-growing prebiotic fiber ingredients. [5] And for good reason. As a functional nutritional ingredient, inulin acts as a growth factor for gut microbiota, improves digestion, improves mineral solubility and absorption, and decreases glucose uptake. [6]

Inulin is derived from agave, chicory root, beets, among other plant-based sources. It is a non-digestible, longer-chain carbohydrate that offers developers various functional properties, including fiber, sugar reduction, fat replacement (up to 50 percent), sweetener texturizer and humectant. Notably, inulin’s sweetness has anywhere from 30-50 percent of the sweetness of table sugar. This means inulin can be increased for higher fiber content without negatively impacting flavor. [7]

“As the market for inulin continues to grow, bakery and snack brands have a unique opportunity to educate consumers about how this bioactive, powerhouse ingredient can help them meet their daily fiber intake and other health goals,” said Tonya Lofgren, product manager for CIRANDA, the premiere North American provider of certified organic, non‐GMO and fair‐trade food ingredients.

To meet growing demand for inulin, CIRANDA offers Organic Agave Inulin, which is non-GMO and kosher.

CIRANDA’S Organic Agave Inulin comes from the Agave tequilana var. weber plant — a plant that naturally contains a high concentration of inulin fructans. It is extracted from the agave pina with water, filtered to purify, and spray-dried. It is an odorless, clean tasting, mildly sweet white powder that is highly soluble in liquid. It can be used in bakery applications such as cereal and granola bars, energy balls, cookies, and baking mixes.

“Our expert technicians work with brands to effectively formulate products with inulin to meet a brand’s quality, nutrition, taste and clean-label goals,” said Lofgren. “Our agave inulin delivers on taste and texture, while also satisfying the health-conscious consumer’s desire for more fiber and reduced-sugar options.”

Agave inulin has natural water-absorption properties. It is an excellent alternative to other commercial inulin sources, such as chicory. Compared to inulin from chicory, agave inulin has more branched chains versus straight chains. These branched chains make it very soluble in cold water and enhance its functional characteristics. It acts as a fat mimetic to improve the texture and mouthfeel in reduced sugar or reduced fat applications.

“CIRANDA has decades of experience in organic agriculture, sustainable food systems and technical applications,” said Lofgren. “We look forward to helping more product developers in the bakery and snack category offer their customers the functional health benefits of inulin.”

For more information about CIRANDA’s ingredient options, please visit www.ciranda.com.

[1] “Ingredient Insider: Now & Next for Fiber & Prebiotic – US,” Innova Market Insights, March 2024

[2] Alice Callahan, ” You Probably Aren’t Getting Enough Fiber,” New York Times, Aug. 14, 2023 (https://www.nytimes.com/2023/08/14/well/eat/fiber-diet.html?searchResultPosition=2)

[3] “The Nutrition Source,” Harvard T.H. Chan School of Public Health. (https://nutritionsource.hsph.harvard.edu/carbohydrates/fiber/#:~:text=Fiber%20helps%20regulate%20the%20body’s,vegetables%2C%20legumes%2C%20and%20nuts)

[4] “Ingredient Insider: Now & Next for Fiber & Prebiotic – US,” Innova Market Insights, March 2024

[5] “Ingredient Insider: Now & Next for Fiber & Prebiotic – US,” Innova Market Insights, March 2024

[6] Ankan Kheto, Yograj Bist, Anchal Awana, Samandeep Kaur, Yogesh Kumar, Rachna Sehrawat, Utilization of inulin as a functional ingredient in food: Processing, physicochemical characteristics, food applications, and future research directions, Food Chemistry Advances, Volume 3, 2023. (https://www.sciencedirect.com/science/article/pii/S2772753X23002642)

[7] Ankan Kheto, Yograj Bist, Anchal Awana, Samandeep Kaur, Yogesh Kumar, Rachna Sehrawat, Utilization of inulin as a functional ingredient in food: Processing, physicochemical characteristics, food applications, and future research directions, Food Chemistry Advances, Volume 3, 2023. (https://www.sciencedirect.com/science/article/pii/S2772753X23002642)

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Judge strikes down FTC noncompete ban nationwide

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Dive Brief:

A Texas federal judge on Tuesday struck down the Federal Trade Commission’s ban on noncompete agreements in employment contracts, holding that the ban violates the Administrative Procedure Act and exceeds the agency’s statutory authority. The ruling applies nationwide.
Judge Ada Brown of the U.S. District Court for the Northern District of Texas had already ruled against FTC in Ryan LLC v. Federal Trade Commission last month. Brown preliminarily enjoined the noncompete ban but only with respect to the case’s plaintiffs and plaintiff-intervenors. Her Aug. 20 decision, however, sets the regulation aside entirely, as the APA “does not contemplate party-specific relief,” she wrote.
FTC’s ban had been set to take effect Sept. 4. Brown’s decision splits with that of a Pennsylvania federal judge who sided with FTC on July 23 and declined to block the ban. Last week, a Florida federal judge also issued a limited injunction of the ban, holding that FTC likely exceeded its statutory authority.

Dive Insight:

The FTC’s noncompete ban targeted contractual clauses that apply to an estimated 1 in 5 U.S. workers by the agency’s own estimates. The rule would have allowed noncompete agreements with certain senior executives prior to the rule’s effective date to remain in force while rendering all other noncompetes unenforceable.

As with other regulatory efforts from the Biden administration, however, the ban was swiftly challenged by employers and business advocates. In addition to the FTC’s ban, those parties also fought the National Labor Relations Board’s joint employer rule as well as the U.S. Department of Labor’s independent contractor and overtime eligibility rules.

In Tuesday’s decision, Brown held that the Federal Trade Commission Act gives the FTC “some authority to promulgate rules to preclude unfair methods of competition” but that the agency “lacks the authority to create substantive rules” such as the noncompete ban. She said this is supported by the fact that Congress did not prescribe sanctions for violations of certain FTC regulations, “which indicates a lack of substantive force.”

Brown also concluded that the FTC’s ban is arbitrary and capricious within the meaning of the APA “because it is unreasonably overbroad without a reasonable explanation.” She said the agency failed to offer evidence for its decision to prohibit all noncompete agreements instead of targeting specific, harmful agreements.

“This is the outcome we have predicted since the FTC first proposed the rule almost two years ago, and we expect it to be upheld on appeal, ultimately by the Supreme Court,” Erik Weibust, member of the firm at Epstein Becker Green, told HR Dive. “This is a perfect example of the judicial system holding unelected bureaucrats to account for their overreach in an area that they have neither the expertise nor Congressional authorization to regulate.”

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Campbell Soup starts acquisition of Sovos Brands

CAMDEN, NJ. — The Campbell Soup Co. is acquiring Sovos Brands Inc., Louisville, Colo., for approximately $2.7 billion. Sovos Brands is a manufacturer of sauces, yogurts and frozen prepared foods marketed under such brands as Rao’s, noosa and Michael Angelo’s.

“This acquisition fits perfectly with and accelerates our strategy of focusing on one geography, two divisions and select key categories that we know well,” said Mark Clouse, president and chief executive officer of Campbell Soup. “Our focused strategy has enabled us to deliver strong results over the last five years, enhance our brands and capabilities, and generate strong cash flow to lower debt. With all this progress, I am confident in our readiness to execute and integrate this important acquisition.”

The closing of the transaction is subject to Sovos Brands stockholder approval and customary closing conditions, including regulatory approvals. Closing is expected by the end of December. The transaction has been approved by the boards of directors of both companies, according to Campbell Soup.

In fiscal 2022, Sovos Brands generated $878.4 million in sales. The Rao’s brand is the company’s largest, with $580.1 million in sales in 2022. During the past few years Sovos Brands had extended Rao’s into such additional categories as frozen entrees, frozen pizza, pasta and soups.

During the first half of fiscal 2023, ended July 1, Sovos Brands recorded net income of $13.2 million, equal to 13¢ per share on the common stock, and an improvement over the first half of fiscal 2022 when the company recorded a loss of $26.2 million.

First half sales ticked up to $470.4 million from $407.4 million the year before.

“We have built a one-of-a-kind, high growth food company focused on taste-led products across a portfolio of premium brands, anchored by the Rao’s brand,” said Todd Lachman, president and CEO of Sovos Brands. “Our success would not have been possible without the incredibly talented and passionate team at Sovos Brands, which has been instrumental in building one of the fastest growing food companies of scale in the industry today.

“This transaction is expected to create substantial value for our shareholders, resulting in a 92% increase from our 2021 IPO price. As one of the most trusted and respected food companies in North America, I’m confident in Campbell’s ability to continue bringing our products to more households and further building on our track record of growth and success for years to come.”

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Walmart is Ending DroneUp Deliveries in Three States

Walmart is ending drone deliveries made with partner DroneUp in Phoenix, Arizona, Salt Lake City, Utah, and Tampa, Florida, because the services in those cities weren’t sustainable, according to Axios. This is after Walmart and DroneUp announced in 2022 that they would be bringing drone delivery to those states as part of a broader expansion.

Right now, it costs about $30 to use a drone to deliver a package, but DroneUp wants to bring the cost down so that it’s less than $7, DroneUp CEO Tom Walker told Axios.

To read the rest of the story, please go to: The Verge

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