Food Business News - October 12, 2021 - 11

maximize their value and divest at some point.
Javier H. Idrovo, chief financial officer, said " turbocharge "
brands are expected to be more than 50% of Hain Celestial's sales
and profits. " Fuel for growth " brands are expected to make up
16% of total sales and 13% of total profits. Mergers and acquisitions
also will be a part of the Hain 3.0 strategy.
" Our M&A will be focused on the growth brands, with
particular emphasis on the 'turbocharge' segment with the aim
of accelerating top-line and/or bottom-line performance, " Mr.
Idrovo said.
Management expects Hain 3.0 will lead to 7% to 10% sales
growth and 9% to 12% EBITDA growth by fiscal 2025.
" This is a significant acceleration in our top line, and we will
take time and investment to deliver it, " Mr. Idrovo said.
In the year ended June 30, 2021, Hain Celestial net income
was $77.4 million, equal to 77¢ per share on the common stock, a
reversal from a loss of $80.4 million a year earlier. Net sales were
$1.97 billion, down 4.1% from $2.05 billion. FBN
Whole Foods names
new CEO as Mackey
plans to retire
AUSTIN, TEXAS - John Mackey, who co-founded Whole Foods Market
in 1980, has announced his intent to retire on Sept. 1, 2022,
after four decades at the helm of the natural foods grocer. Jason
Buechel, currently chief operating officer, will take over as chief
executive officer following Mr. Mackey's retirement next year.
" Honestly, it's very hard to retire from a company that I have
helped to create, nourish and grow for 44 years when I leave, "
Mr. Mackey said. " As a co-founder of Whole
Foods, I've often explained my relationship
to the company with a parent-child metaphor.
As a parent, I have always loved Whole
Foods with all my heart. I have done my
best to instill strong values, a clear sense of
higher purpose beyond profits, and a loving
culture that allows the company and all our
interdependent stakeholders to flourish. All
parents reach a time when they must let go
and trust that the values imparted will live
on within their children. That time has nearly
come for me and for Whole Foods. "
Mr. Buechel joined Whole Foods in
2013 as global vice president and chief
information officer and was promoted in
2015 to executive vice president before being
named to his current role in 2019. In addition
to being responsible for the operations of
all Whole Foods stores and facilities, he
oversees technology, supply chain and distribution, and Team
Member Services. Prior to joining Whole Foods, Mr. Buechel was
a managing director and partner at Accenture.
Since August 2017, Whole Foods has been owned by Amazon.com,
Inc. FBN
October 12, 2021
800-688-8151 Ext 95273 * sales@mennel.com
mennel.com/thermopure
Food Business News
11
Central states Sept. 1 wheat
inventory the largest since 2018
The larger Central states crop harvested in 2021 has
allowed wheat stocks in the key region for soft red
winter wheat to increase to the highest level since 2018.
The Sept. 1, 2021, wheat inventory in the Central states
was estimated at 205.9 million bus, up 19% from 173.3
million bus a year earlier. The recent five-year average
Central states wheat inventory was 230.4 million bus.
The Sept. 1, 2021, US all-wheat inventory
was estimated at 1,780 million bus, down
18% from 2,158 million bus in 2000.
Mackey
Buechel
ThermoPure™ Flour
Like our heat-treated products, the
new ready-to-eat product line - called
ThermoPure™ due to its distinctive
qualities - off ers low micro count as well
as better viscosity, texture and adhesion.
We've added a pathogen reduction
system to our process while maintaining
the same great fl avor, appearance and
performance of our staple soft wheat,
hard and spring wheat and organic
wheat varieties.
https://twitter.com/mennelmilling?lang=en https://www.linkedin.com/company/the-mennel-milling-company/ http://www.mennel.com/thermopure https://www.facebook.com/MennelMilling/ http://www.zon.com

Food Business News - October 12, 2021

Table of Contents for the Digital Edition of Food Business News - October 12, 2021

Food Business News - October 12, 2021 - Intro
Food Business News - October 12, 2021 - 1
Food Business News - October 12, 2021 - 2
Food Business News - October 12, 2021 - 3
Food Business News - October 12, 2021 - 4
Food Business News - October 12, 2021 - 5
Food Business News - October 12, 2021 - 6
Food Business News - October 12, 2021 - 7
Food Business News - October 12, 2021 - 8
Food Business News - October 12, 2021 - 9
Food Business News - October 12, 2021 - 10
Food Business News - October 12, 2021 - 11
Food Business News - October 12, 2021 - 12
Food Business News - October 12, 2021 - 13
Food Business News - October 12, 2021 - 14
Food Business News - October 12, 2021 - 15
Food Business News - October 12, 2021 - 16
Food Business News - October 12, 2021 - 17
Food Business News - October 12, 2021 - 18
Food Business News - October 12, 2021 - 19
Food Business News - October 12, 2021 - 20
Food Business News - October 12, 2021 - 21
Food Business News - October 12, 2021 - 22
Food Business News - October 12, 2021 - 23
Food Business News - October 12, 2021 - 24
Food Business News - October 12, 2021 - 25
Food Business News - October 12, 2021 - 26
Food Business News - October 12, 2021 - 27
Food Business News - October 12, 2021 - 28
Food Business News - October 12, 2021 - 29
Food Business News - October 12, 2021 - 30
Food Business News - October 12, 2021 - 31
Food Business News - October 12, 2021 - 32
Food Business News - October 12, 2021 - 33
Food Business News - October 12, 2021 - 34
Food Business News - October 12, 2021 - 35
Food Business News - October 12, 2021 - 36
Food Business News - October 12, 2021 - 37
Food Business News - October 12, 2021 - 38
Food Business News - October 12, 2021 - 39
Food Business News - October 12, 2021 - 40
Food Business News - October 12, 2021 - 41
Food Business News - October 12, 2021 - 42
Food Business News - October 12, 2021 - 43
Food Business News - October 12, 2021 - 44
Food Business News - October 12, 2021 - 45
Food Business News - October 12, 2021 - 46
Food Business News - October 12, 2021 - 47
Food Business News - October 12, 2021 - 48
Food Business News - October 12, 2021 - 49
Food Business News - October 12, 2021 - 50
Food Business News - October 12, 2021 - 51
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Food Business News - October 12, 2021 - 53
Food Business News - October 12, 2021 - 54
Food Business News - October 12, 2021 - 55
Food Business News - October 12, 2021 - 56
Food Business News - October 12, 2021 - 57
Food Business News - October 12, 2021 - 58
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Food Business News - October 12, 2021 - 60
Food Business News - October 12, 2021 - 61
Food Business News - October 12, 2021 - 62
Food Business News - October 12, 2021 - 63
Food Business News - October 12, 2021 - 64
Food Business News - October 12, 2021 - 65
Food Business News - October 12, 2021 - 66
Food Business News - October 12, 2021 - 67
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Food Business News - October 12, 2021 - 69
Food Business News - October 12, 2021 - 70
Food Business News - October 12, 2021 - 71
Food Business News - October 12, 2021 - 72
Food Business News - October 12, 2021 - 73
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Food Business News - October 12, 2021 - 78
Food Business News - October 12, 2021 - 79
Food Business News - October 12, 2021 - 80
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