Happy Fourth of July From Gourmet News!
Kraft Launches Rebranded Mac & Cheese
For 85 years, Kraft Mac & Cheese has been America’s original and favorite comfort food. With more than a million boxes sold every day, the cheesy bowls of deliciousness haven’t just filled America’s bellies; they’ve played an iconic role in every stage of people’s lives. Now, Kraft is unveiling a brand identity that includes an updated logo, noodle smile and even a new name that redefines the brand as feel-good food for everyone.
The new look updates all aspects of the brand identity: the name, the logo, brand colors, typography, photography, iconography and packaging. The change from “macaroni and cheese” to “mac & cheese,” is meant to reflect the way fans organically talk about the brand. The iconic blue box now features just a single-color hue of blue and amplifies the brand’s most recognizable asset — the noodle smile, now even more delicious and dripping with creamy, cheesy goodness.
“We know that people aren’t turning to comfort food as a guilty pleasure, they are positively embracing comfort, saying yes to feeling good, saying yes to caring for themselves,” said Victoria Lee, Kraft Mac & Cheese brand manager. “There is a familiar, craveable, positive comfort to Kraft Mac & Cheese that makes it so special and iconic to millions of people across the world and our new look is a reflection of what our brand means to our consumers.”
The new look will appear across social channels and on the website this summer and packaging will start to hit shelves in August.
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General Mills to Sell Helper, Suddenly Salad to Eagle
General Mills has entered into a definitive agreement to sell its Helper main meals and Suddenly Salad side dishes businesses to Eagle Family Foods Group, a portfolio company of Kelso & Company, in a cash transaction valued at approximately $610 million. The proposed transaction is expected to close in the first quarter of fiscal 2023, subject to regulatory approval.
“With this divestiture, we are continuing to reshape our portfolio and advance our Accelerate strategy,” said Jon Nudi, General Mills group president, North America Retail. “This transaction improves our North America Retail segment’s growth profile and allows us to increase our focus on brands and categories where we have the best opportunities to drive profitable growth.”
Net sales for the Helper and Suddenly Salad businesses totaled approximately $235 million in fiscal 2021. The company expects the divestiture to be dilutive to its adjusted earnings per share in the range of approximately 10 to 11 cents in the first 12 months after closing, before factoring in any potential benefit from the use of proceeds from the sale. The company will provide more information on the transaction on its fourth quarter earnings call in late June.
Goldman Sachs & Co. LLC served as financial adviser to General Mills for the transaction and Cleary Gottlieb Steen & Hamilton LLP served as legal adviser.
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