Deals
Selling a Legacy: Food Companies Seek to Boot Their Dated Brands
- Fewer preservatives, sweeteners a developing consumer trend
- Push to reshape portfolios seen as boosting Big Food M&A
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Not a big fan of the Pillsbury Doughboy’s bouncy paunch? You’re not alone, and Big Food is taking note.
As consumers increasingly lean toward fruits, vegetables, grains and meats unsullied by preservatives and sweeteners, food makers including J.M. Smucker Co., General Mills Inc. and Conagra Brands Inc. are looking to reshape portfolios to shed slow- or no-growth units. Instead, they’re looking to refocus on foods that can boost revenue in a world where Millennials -- with roughly $4 trillion in spending power -- and Gen Z buyers rule.