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September 30, 2016

Dairy-free firm Tofutti weighs up “strategic” options

US dairy-free business Tofutti Brands has appointed advisers to look at "strategic alternatives" for the business, including a possible sale.

By Dean Best

US dairy-free business Tofutti Brands has appointed advisers to look at “strategic alternatives” for the business, including a possible sale.

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Tofutti said today (30 September) its board had started the review, which it said “may result in the company’s continuing to pursue value-enhancing initiatives as a standalone company or a possible sale or other form of business combination”.

The company added: “No decision has been made to enter into any transaction at this time, and there can be no assurance that the consideration of strategic alternatives will result in any transaction.”

Tofutti also announced its board had decided to delist from the NYSE MKT exchange. The business said “material facts related to this important decision include the inability of the company to regain compliance” with the exchange’s listing requirements.

In April last year, Tofutti announced the NYSE MKT had written to the company to say it was not meeting listing requirements in part because it had generated net losses in three of its last four financial years. That June, Tofutti said the NYSE MKT had given the business until 1 October this year to regain compliance.

Tofutti said today it expects to file its notification of delisting from the NYSE MKT on 11 October. The company expects the delisting to be effective around ten days after the notification. Upon delisting, Tofutti intends for its common stock to trade on the OTCQB Venture Market.

Last month, Tofutti booked an improvement in first-half profitability, although it reported a decline in sales in the second quarter.

In 2015, Tofutti posted sales of US$13.8m, down from $14.4m in the prior year. Tofutti booked a net loss of $643,000 ($0.12 per share) compared to a net loss of $163,000 ($0.03 per share) in fiscal 2014.

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Unilever- A Deep-dive into Product Launches and Advertising Strategy

Unilever product advertising is mainly through mainstream TV channels. Out of the products advertised so far at least 50% (over 850) of ads have been run on TV, while print media comes second with 496 ads. Unilever also utilizes social media platforms for advertisement. Unilever products are categorized by innovation ratings and tags in our product launch database. The North American region consists of almost 74 products with innovations related to the formulation of the product. Europe and other regions also have more products categorized under formulation-related innovation, followed by the packaging and positioning of the products. Most Unilever products are tagged with “High Vitamins”, “Recyclable”, and “Natural” tags to understand what the product differentiator is from other products available in the market. The majority of products belong to the personal care industry with a total of 5,788 products to date. This report, through the Unilever Example, illustrates how GlobalData Explorer enables you to:  
  • Track product launches by FMCG companies to get an understanding of the product-level strategies including geographic concentrations, innovation types, product claim, category focus and more
  • Monitoring the advertising strategies of various brands and gain insights into channel focus, regional focus, and more
  • Perform company-level analysis to understand business model, size, and geographic focus
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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