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FMI elects four new members to board of directors

BY Michael Johnsen

ARLINGTON, Va. The Food Marketing Institute on Tuesday announced the election of four new members to FMI’s board as well as the election of the board chairman and four board vice chairmen.

Elected to the FMI board of directors are Mark Batenic, chairman, president and CEO, IGA;  Rudy Dory, owner, Rudy’s Markets; Jerry Garland, president and CEO, Associated Wholesale Grocers; and Dean Peterson, president and CEO, Harmon City.

Richard “Jurgens, chairman, CEO and president of Hy-Vee, was elected chairman of the FMI Board; and Steven Smith, president and CEO of K-VA-T Food Stores, is the immediate past chairman of the FMI board.

Elected as FMI vice chairmen to the board are Gregory Calhoun, presiden and CEO of Calhoun Food Markets, who will serve as chairman of the public affairs committee; William Coyne, president and CEO of Raley’s Family of Fine Stores, who will serve as chairman of the finance committee; Ed Crenshaw, chief executive officer of Publix Super Markets, who will serve as chairman of industry relations committee; and Dave Skogen, owner and chairman of the board of Festival Foods, who will serve as chairman of the member services committee.

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V8 V-Fusion rolls out two on-trend varieties

BY Allison Cerra

CAMDEN, N.J. V8 V-Fusion has introduced two additions of its popular beverage line, featuring superfruits.

Goji Raspberry and Passionfruit Tangerine flavors contain 100% juices, with each 8-ounce glass provides a full serving of vegetables (1/2 cup) and a full serving of fruit (1/2 cup), plus essential antioxidant vitamins A, C and E.

“While our product continues to be popular among adults, we are hearing from more and more moms that they purchase V8 V-Fusion 100% juice for the entire family,” says Sophia Arsenlis, brand manager, V8 V-Fusion, Campbell Soup Company.

The addition of Goji Raspberry and Passionfruit Tangerine brings the V8 V-Fusion juice portfolio to 10 juice blends, including Acai Mixed Berry, Pomegranate Blueberry, Pomegranate Blueberry Light, Strawberry Banana, Strawberry Banana Light, Peach Mango, Peach Mango Light and Tropical Orange.

V8 V-Fusion Goji Raspberry and Passionfruit Tangerine 100% juices are available at most grocery, mass merchandise and convenience stores nationwide. Suggested retail price ranges from $1.69 to $3.99, depending on the size. V8 V-Fusion 100% juices are available in 46-ounce and 12-ounce bottles. For more information, visit www.v8juice.com.

KelloggsDRSNhttp://www.centerstoregrowth.com

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Molson Coors reports Q1 earnings

BY Allison Cerra

DENVER, Colo. Brewing company Molson Coors reported its first-quarter earnings Tuesday.

The international brewer reported that its total worldwide beer volume declined 2.7% on a pro forma basis. Meanwhile, worldwide Coors Light volume grew more than 4%, compared with the year-ago period.

Net income attributable to Molson Coors increased $41.4 million, or 120.6%, to $75.7 million for the first quarter 2009.

Net income (after tax) increased $98.8 million, or $0.53 per diluted share, up from $56.4 million, or $0.31 per diluted share a year ago. This strong earnings performance was driven by increased beer pricing and substantial cost reductions across the company, which more than offset continuing commodity inflation, unfavorable currency movements, and lower worldwide volume.

The company reports results associated with its former Brazilian unit, Cervejarias Kaiser (“Kaiser”), as discontinued operations. The company reported a loss of $3.9 million from discontinued operations during the quarter primarily due to the impact of foreign exchange movements on the Kaiser indemnity estimates.

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