US: Smithfield's Cracker Barrel lines set for spring launch
Smithfield Foods has confirmed the deli and meat products it is developing under the Cracker Barrel restaurant brand are set to be launched in the spring.
The US meat giant announced a licencing venture with Cracker Barrel earlier this month to add to its portfolio of branded packaged meats. It said it would launch products including bacon, lunch meats and jerky but had not announced when the lines would be rolled out.
Speaking to just-food, Chuck Gitkin, vice president of marketing, innovation and R&D at Smithfield's John Morrell Food Group arm, said the processor had teamed up with Cracker Barrel because of the restaurant chain's brand.
"The company goes to great lengths to deliver a high-quality experience consistently in its restaurants. We don't think that anyone does this better and the Cracker Barrel brand strength reflects this," Gitkin said.
Smithfield, among the largest meat processors in the US, is looking to up its focus selling on packaged branded meats. Gitkin said a deeper focus on branded products helped shelter "competitive pressures" that hit Smithfield's non-branded operations.
In the year to the end of April, Smithfield's profits fell by more than 30% amid higher prices for hogs. In the first quarter of its current financial year, earnings also fell thanks in part to an increase in grain costs.
"Brands inspire consumer loyalty and insulate the company from the fluctuations of business conditions and competitive pressures that unbranded products might not handle as well," he said. "The company has an outstanding portfolio of leading brands. Licensing the Cracker Barrel brand complements this winning portfolio."
Meat, Fish & Poultry in the United States industry profile provides top-line qualitative and quantitative summary information including: market size (value 2007-11, and forecast to 2016). The profile ...
Smithfield Foods CEO Larry Pope has labelled demands from major shareholder Continental Grain that the US meat giant should split in three "inherently flawed"....
Chilled & Deli Food in the United States industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value and volume 2007-11, and forecas...
US meat processor Smithfield Foods is to close a site in Maryland....
This report analyzes the worldwide markets for Meat (Fresh And Processed) in Thousands of Tons by the following Product Segments: Pork, Lamb & Goat, Beef & Veal, and Poultry. The report provides separ...
Smithfield Foods has said it will "review" criticism from major shareholder Continental Grain into the US meat processor's strategy and the investor's call to split the company in three....
- On the money: Unilever shifting into growth spots
- Indian conglomerate ITC sets out FMCG ambition
- On the money: Danone denies strategy overhaul
- Why whole sector should take heed of meat scrutiny
- The just-food interview: Premier Foods CEO Darby
- Chobani bid for fresh UK appeal rejected
- Kellogg to close US snack plant
- Danone UK ad banned over unauthorised claims
- Danone takes Mars yoghurts into more markets
- Tyson sells Mexico, Brazil ops to JBS