General Mills to sell Pop Secret to Diamond Foods
GOLDEN VALLEY, Minn. General Mills today announced details of an agreement to sell its Pop Secret microwave popcorn business to Stockton, Calif.-based Diamond Foods for around $190 million. None of General Mills’ employees or plants will be affected by the sale because Pop Secret is manufactured at an outside facility, a company spokesperson said.
According to spokesperson Heidi Geller, the sale is part of a move by General Mills to reevaluate its priorities. Additionally, General Mills is also looking to sell its Nature Valley granola bar line and other grain-based snacks.
Diamond Foods, the creator of Diamond brand almonds and other snack nuts has said that it is very excited to add Pop Secret to its portfolio. The added brand will broaden Diamond’s presence in the snack aisle and the company expects to generate $85 million to $90 million per year from the sale of Pop Secret products.
General Mills is looking at a one-time $160 million profit gain, not including costs related to the costs.
Nestle to add jobs, production plant to Central Indiana community
ANDERSON, Ind. One small Indiana community will be getting more jobs and local business, Nestle USA announced Tuesday. The company said that in addition to its current expansion activities, and recent mass hiring, it will add 135 more jobs and spend an additional $200 million on expansion construction efforts through 2011.
Nestle USA food and snack manufacturer had already added 300 workers and set the wheels rolling on a new $359-million production facility in Central Indiana. But the company has said that it will hire engineering staff, production associates, technical support specialists and warehouse operators with wages averaging $20 per hour.
Construction will pump the 880,000-sq. ft. facility up to almost 1 million sq. ft. Nesquik and Coffee-mate creamer will be processed and distributed at the plant.
Last year, Nestle USA’s sales reached $8.25 billion. Across the United States, Nestle has 14,000 employees nationwide, 12 sales offices, 20 manufacturing facilities and five distribution centers.
MillerCoors uses clothes hangers to market beer to female drinkers
NEW YORK SABMiller and MolsonCoors are preparing to launch the new beer, MGD 64, this fall with a campaign targeting women—especially those who watch their waistlines.
After giving original Miller Genuine Draft a reformulation so that it contains just 64 calories, the beer makers are driving ads towards female consumers by plastering them on clothes hangers in dry cleaners in Portland, Ore., and Seattle.
The ad campaign works with hanger company EcoHanger, which manufactures 100 percent recycled hangers. The dry cleaning locations have been using these hangers since July, but starting in the fall they will have signage with MGD 64’s slogan “64 calories is a light beer—a perfect fit.”
Hanger Network of New York, an advertising group, will distribute eco-friendly hangers with ads to around 35,000 dry cleaners in various markets across the United States.