Supervalu names EVP market, real estate development
MINNEAPOLIS Supervalu on Tuesday promoted J. Andrew Herring as the company’s EVP market and real estate development, effective June 6.
Herring, 51, most recently served as SVP real estate and store development. In his new role, he will be responsible for driving Supervalu’s major growth initiatives, including store development for the company’s traditional retail and Save-A-Lot stores and for its independent retailers, as well as new store growth. Herring will report directly to Craig Herkert, Supervalu CEO and president.
“Driving growth is a critical element of our strategy, and I’m excited to have [Herring] lead this effort and join my executive team,” Herkert said. “[Herring] has a broad range of experience with the company beyond real estate and has played key roles in many of our largest acquisitions. He has been a great asset to us for 12 years and will be invaluable as we continue our focus on being America’s Neighborhood Grocer.”
Herring joined Supervalu in February 1998 as VP corporate development and external relations and was promoted to SVP in 1999. In this position, he was responsible for mergers and acquisitions, corporate communications, industry and government relations, and the company’s corporate foundation. In 2002, he was named EVP Supervalu retail pharmacies, responsible for the company’s in-store pharmacy operations. Starting in late 2005 and during 2006, Herring played a leading role in the acquisition of certain assets of Albertsons and worked in the Supervalu Enterprise Office on post-merger integration matters related to the acquisition.
Crown Crafts acquires Bibsters product from P&G
GONZALES, La. Crown Crafts has acquired a disposable bib product from Procter & Gamble, the company announced last week.
Crown Crafts said its subsidiary Hamco now will manufacture and distribute Bibsters products, a disposable bib that provides coverage for infants and toddlers while feeding, which was introduced by P&G in 2003. Hamco also acquired the inventory associated with the Bibsters product line and plans to integrate the distribution of the Bibsters product line into the Company’s facilities in Compton, Calif.
“We are thrilled to find an opportunity that will complement last year’s acquisition of Neat Solutions by expanding our business in the disposable products category,” said E. Randall Chestnut, chairman, president and CEO. “Hamco already has the overwhelming market share in reusable bibs, and we are confident that the Bibsters line of disposable bibs will solidify Hamco’s position as the overall leader in infant and toddler bibs.”
FDA to review Orexigen’s obesity treatment
SAN DIEGO The Food and Drug Administration has accepted a new drug application from a biopharmaceutical company focused on the treatment of obesity.
Orexigen said its investigational obesity treatment Contrave (naltrexone SR/bupropion SR), which addresses both physiological and behavioral drivers of the disease, was accepted by the FDA, following its Contrave Obesity Research clinical program, which included more than 4,500 patients.
“We are pleased the FDA has accepted our NDA for filing and look forward to working with the agency during the review process,” said Michael Narachi, Orexigen president and CEO. “If approved, we believe Contrave will become an important therapeutic option for obese patients, making weight loss and weight maintenance an achievable cornerstone in the treatment of obesity and its common co-morbidities.”