Kraft nominates Juliber, Zarb for board
NORTHFIELD, Ill. Kraft Foods has nominated two independent members endorsed by activist investor Nelson Peltz to its board of directors.
Lois Juliber, 58, retired vice chairman and chief operating officer of Colgate-Palmolive Co., and Frank Zarb, 72, managing director of private-equity firm Hellman & Friedman LLC were tapped today to fill the vacant board positions.
Peltz, whose hedge-fund firm, Trian Fund Management LP, with a stake of more than 2 percent in Kraft, has signed a standstill agreement with the company to vote for all of Kraft’s board nominees for the next two election cycles and not to increase its stake in the company to more than 9.9 percent
Peltz also has been pressing Kraft, the world’s second-largest packaged food company, to focus on its strongest brands. The company recently revealed plans to increase overseas presense by acquiring Groupe Danone SA’s global biscuits business and announced the sale of its Veryfine and Fruit?O beverage brands.
Snapple’s new antioxidant water offers healthy benefits
PLANO, Texas Snapple on Tuesday introduced Antioxidant Water and LYTeWater, taking drinking water to a new level.
The Antioxidant Water line helps restore the body and supports a healthy immune system. Featuring seven flavors inspired by nature’s “superfruits,” the antioxidants, vitamins and electrolytes in each flavor provide one of four distinct health benefits—the power to Protect, Defy, Awaken and Restore.
The zero-calorie Snapple LYTeWater line is enhanced with electrolytes and minerals for premium hydration. Both lines provide consumers looking to incorporate healthy behaviors into their lifestyles with nutrient-packed alternatives to traditional bottled water, according to Brian Mazur, vice president and general manager of Snapple.
Snapple Antioxidant Water is available in 20-ounce single bottles for $1.39 to $1.59 and Snapple LYTeWater is available in 20-ounce six-packs, as well as one-liter single-serve bottle for $1 to $1.69 per unite. They can be found in major retailers, grocery and convenience stores nationwide.
Coca-Cola to shut down Frederick, Md. plant
FREDERICK, Md. Coca-Cola Enterprises is planning to close operations at its Frederick county distribution plant by the end of March, citing growth constraints.
The announcement was made last month to the site’s 52 employees, with plans to relocate most of them to of the company’s 10 other facilities in Maryland, including Rockville and Hagerstown.
With Coca-Cola’s truck traffic increasing, the 100-year-old Frederick site has little room to accommodate them and cannot expand the 21,000-square-food building. Instead, the Atlanta-based company will shift to other locations around Maryland, despite the building’s 60-year history housing the Coca-Cola company.