Gourmet News

General Mills Acquires TNT Crust, Frozen Pizza Crusts

Published June 23, 2022

General Mills has completed the acquisition of TNT Crust. TNT Crust is a manufacturer of high-quality frozen pizza crusts for regional and national pizza chains, foodservice distributors, and retail outlets. TNT Crust was a portfolio company of Peak Rock Capital.

The TNT frozen pizza crust business has generated double-digit compound annual net sales growth over the past four years, with net sales totaling approximately $100 million in 2021. As part of the acquisition, General Mills has also acquired two manufacturing facilities in Green Bay, Wis., and one manufacturing facility in St. Charles, Mo.

Founded in 1981, TNT Crust is a national and international leader in the pizza industry supplying fresh traditional pizza crusts, par-baked pizza crusts, gluten-free pizza crusts, and amazing better-for-you products.

General Mills is guided by its Accelerate strategy to drive shareholder value by boldly building its brands, relentlessly innovating, unleashing its scale and being a force for good. Its portfolio of beloved brands includes household names such as Cheerios, Nature Valley, Blue Buffalo, Häagen-Dazs, Old El Paso, Pillsbury, Betty Crocker, Yoplait, Annie’s, Wanchai Ferry, Yoki and more. Headquartered in Minneapolis, Minn., General Mills generated fiscal 2021 net sales of U.S. $18.1 billion. In addition, the company’s share of non-consolidated joint venture net sales totaled U.S. $1.1 billion.

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Whole Foods Market Launches Summer Condiment Trends Predictions

Published June 23, 2022

Whole Foods Market’s Trends Council revealed its first summer condiment trends predictions along with a list of corresponding products from emerging and established brands. The Trends Council – a collective of Whole Foods Market buyers and experts with extensive industry knowledge – predict global barbecue, chili peppers, elevated ketchup and mustard, next-level fermentation, and new takes on ranch will be influencing barbecues and picnics across America this summer.

Whole Foods Market’s summer condiment trends predictions come at a time when customers are turning to condiments to elevate their meals more than ever before. According to Mintel, sales for the condiment, marinade and dressing category are expected to hit $2.9 billion by 2024, showing growth of more than 5% since 2020.

“Customers are not afraid to experiment with condiments to level up familiar comfort foods or recreate a favorite restaurant dish. They are also trading out condiment-aisle classics for more elevated versions, and we expect this to continue as we head into summer,” said Rachel Bukowski, senior team leader of R&D for Exclusive Brands at Whole Foods Market. “Going forward, we expect to see the continued innovation in condiments for special diets like vegan, keto-friendly, low sugar and low-sodium options, as well as globally inspired condiments with distinct cultural stories.”

Whole Foods Market’s top five summer condiment trends:

BBQ Goes Global

Did you know your grill is secretly a teleportation machine? First stop: Japan. Next up: Tel Aviv. Transport your taste buds with a hot new lineup of internationally inspired barbecue sauces, spices and marinades. These products harness inspiration from worldwide cuisines, level up any cut of meat and turn your backyard into a high-octane flavor terminal.

Try the Trend: Bachan’s Original Japanese Barbecue Sauce, Gluten-Free Japanese Barbecue Sauce, Hot and Spicy Japanese Barbecue Sauce; 365 by Whole Foods Market Shawarma Marinade; Whole Foods Market Organic Berbere Seasoning; WE LOVE YOU Original Korean Bulgogi BBQ Sauce & Marinade, Medium Spicy Korean Bulgogi BBQ Sauce & Marinade, Sweet & Spicy Korean Gochujang Chili Sauce; Omsom Japanese Yuzu Miso Glaze, Korean Spicy Bulgogi, Vietnamese Lemongrass BBQ (coming summer 2022)

Hot Chili Summer

There’s a whole squad of zesty chili varieties bursting onto the condiment scene. They’re fiery enough to claim the title of summer’s hottest, and they definitely deserve a place in your pantry. From ancho to árbol and puya to cayenne, these chilis are spicing up sauces, pastes, oils and even honey. Crank up the heat and add some zest to grilled meats, salads, fruits and even ice creams.

Try the Trend: Momofuku Chili Crunch; Bitchin’ Sauce Cilantro Chili; Tajín Clásico Seasoning; Sir Kensington’s Chili Lime Crema Everything Sauce; Omsom Thai Krapow (coming summer 2022)

Ketchup and Mustard, Mastered

The most iconic red-and-yellow duo in the condiment game has come a long way from squeeze packets in cafeterias and drive-throughs. New ketchups and mustards push boundaries with fruit-and-veggie add-ins and cuisine-specific flavor profiles like curry and saffron. They’re the easiest way to elevate backyard burgers and dogs to prep them for the culinary red carpet.

Try the Trend: Maille x Mike’s Hot Honey Special Edition Hot Honey Dijon Mustard; Brooklyn Delhi Curry Ketchup, Curry Mustard; Acid League California Ketchup with Saffron and Living ACV, Hot Deli Mustard with ACV; True Made Foods Veggie Ketchup, Bavarian-Style Mustard

Fermented and Flourishing

These days, fermented foods are an unstoppable force charging through aisle after aisle with a full head of steam. Condiments are no exception. We’re seeing tangy fermented ingredients adding flair to vinaigrettes, hot sauces, honeys and mayos. With flavor boosts like miso, kimchi and fermented garlic, these products exponentially expand the flavor possibilities of every summer soirée.

Try the Trend: Lucky Foods Seoul Kimchi Mayo; Cleveland Kitchen Miso Jalapeño Fermented Dressing & Marinade, Garlic Italian Fermented Dressing & Marinade, Veggie Caesar Fermented Dressing & Marinade; California Olive Ranch Carrot Miso Vinaigrette; Firefly Kitchens Firefly Kimchi Hot Sauce, Firefly Cortido Salt, Firefly Kimchi Salt; Ninja Squirrel Coconut Sriracha Hot Sauce

Revved-Up Ranch

Ranch is one of those condiments that inspires cult-like devotion. So, ranch heads, rejoice: Your favorite dressing and dipping sauce has evolved, taking on bold new flavors and expanding with more plant-based options for all. Crank up your summer crudités board, let your carrots take a dip and bust out the garlic knots, because these refreshing ranches are ready to rev up every meal and snack, with vegan and special-diet picks included — even ones made with oatmilk.

Try the Trend: Primal Kitchen Vegan Ranch, Ranch Dip; Tessemae’s Organic Habanero Ranch, Organic Pantry Buffalo Ranch; Mill It Plant Based Classic Ranch Dressing; 365 by Whole Foods Market Vegan Ranch, Spicy Ranch; Acid League Oatmilk Ranch Prebiotic Vinaigrette

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Kellogg to Split Cereal, Plant-Based Foods Businesses

Published June 22, 2022

Kellogg Company‘s board of directors has approved separating its North American cereal and plant-based foods businesses, via tax-free spin-offs, resulting in three independent public companies, each better positioned to unlock their full standalone potential. The three companies, whose names will be determined later, would be the following:

Global Snacking Co., with about $11.4 billion in net sales, will be a leading company in global snacking, international cereal and noodles, and North America frozen breakfast, with iconic, world-class brands and strong underlying growth momentum and profitability;
North America Cereal Co., with about $2.4 billion in net sales, will be a leading cereal company in the United States, Canada, and Caribbean, with a portfolio of iconic, world-class brands and compelling opportunities for investment and profit growth; and
Plant Co., with about $340 million in net sales, will be a leading, profitable, pure-play plant-based foods company, anchored by the MorningStar Farms brand, with a significant opportunity to capitalize on strong long-term category prospects by investing further in North America penetration and future international expansion.

“Kellogg has been on a successful journey of transformation to enhance performance and increase long-term shareowner value. This has included re-shaping our portfolio, and today’s announcement is the next step in that transformation,” said Steve Cahillane, chairman and CEO. “These businesses all have significant standalone potential, and an enhanced focus will enable them to better direct their resources toward their distinct strategic priorities. In turn, each business is expected to create more value for all stakeholders, and each is well positioned to build a new era of innovation and growth.”

In recent years, the company has transformed its portfolio into one that has expanded geographically and shifted toward growing businesses, particularly in snacking categories. To achieve this, it has directed resources and investments toward growth categories and markets around the world, made several acquisitions and partnerships in emerging markets, and strengthened its snacks business through acquisitions, divestitures, and the freeing up of resources by exiting from direct-store delivery. The successful execution of these actions has expanded Kellogg’s portfolio, resulting in a scaled global snacking business and significant emerging markets presence, complemented by strong and profitable breakfast and plant-based foods businesses. The outcome of these strategic actions has been improved growth in recent years, with momentum sustained into 2022.

After several years of transformation and improving results, the company believes it is the right time to separate these businesses so they may pursue their particular strategic priorities.

As independent companies, all three businesses will be better positioned to:

Focus on their distinct strategic priorities, with financial targets that best fit their own markets and opportunities;
Execute with increased agility and operational flexibility, enabling more focused allocation of capital and resources in a manner consistent with those strategic priorities;
Realize improved outlooks for profitable growth; and
Shape distinctive corporate cultures, rooted in Kellogg Company’s strong values, and rewarding career paths for employees of each company.

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