Who To Watch This Year In The Food Industry (Part Three Of Three)
By Katrina Oakley, contributing writer, Food Online
In the first two parts of this three-part series, five companies — Tyson Foods, Nestle, Hampton Creek Foods, PepsiCo, and SodaStream — expected to make a splash in the food industry throughout 2014 have been discussed. In the final segment of Who To Watch This Year In The Food Industry, the cost-cutting measures at Heinz, along with a new endeavor at Green Mountain Coffee Roasters will be explored.
Heinz
Bernardo Hees has only been the CEO of the world-famous ketchup maker since June of last year, but already he has made a name for himself within the company. In his previous role, CEO of Burger King, Hees earned the reputation of being a penny pincher. That status seems to have carried over into his role at Heinz. Within months of taking the reins of the company, Hees executed a move that eliminated 2,000 jobs in both corporate offices and manufacturing plants. Hees also announced plans to close three plants in North America, eliminating 1,350 jobs. Market experts and industry observers thought Heinz was lean before the cuts. Hees faces a stern challenge in turning Heinz around. He has proven his mettle by successfully rejuvenating a struggling Burger King. Only time will tell if 2014 will begin a new era for Heinz under the leadership of Hees.
Green Mountain Coffee Roasters
Brian Kelley found himself at the top of Green Mountain Coffee Roasters, assuming the role of chief executive in Dec 2012, after a very short tenure at Coca-Cola. Now, Kelley’s former company is buying 10 percent of his current company for $1.25 billion. The sale is part of an agreement that will bring the soda maker’s famous brands to the quickly-growing at-home market.
The view from the outside shows Kelley making good decisions, as this deal proves to be beneficial for both parties. Coca-Cola will be able to enter the fast-growing market of make-your-own beverages—an obvious response to SodaStream’s current dominance of that market. For Green Mountain, it gets one of the largest and beloved companies in the world supporting it as Green Mountain preps to release its Keurig Cold beverage maker to consumers in 2015. Kelley has also asked company shareholders to approve a name change of the company. Changing the name to Keurig Green Mountain allows the single-serving coffee maker’s name into the company’s title, expanding the brand’s credibility. Finally, Kelley told analysts late last year that the company would introduce a Keurig 2.0 beverage maker that would prevent mimicking companies from taking any part of the single-serving market from Green Mountain.
That concludes the list of seven food industry companies to watch in 2014. Will Tyson Foods be able to increase revenue and profits despite a threatening pig illness? Can Hampton Creek Foods’ egg substitute product throw a wrench in the spokes of the chicken and the egg riddle? Will Heinz be able to turn around its business despite recent cutbacks? All these questions remain unanswered, but as 2014 slowly unravels, the answers to each company’s success will become clearer.
Want to publish your opinion?
Contact us to become part of our Editorial Community.