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Bolthouse Farms
Jeff DunnPresidentBolthouse Farms
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STRENGTHENING OUR CORE
• Drive base business growth
• Innovate base product / packaging
EXPANDING INTO FASTERGROWING SPACES
• Successfully launch into new Packaged Fresh categories
• Increase availability in new channels
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CO
RE
BR
EAK
THR
OU
GH
Bolthouse Farms – Continued Strong Growth
New Availability
BaselineCore
BaseInnovation
Breakthrough Innovation
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Bolthouse Farms Business Unit Overview
Retail Carrots
Natural Ingredients
FARMS
Super Premium Beverages
Premium Refrigerated Dressings
CPG
60%BolthouseNet Sales
+3%Carrot
CategoryGrowth
40%BolthouseNet Sales
+15%BeverageCategoryGrowth
+6%DressingCategoryGrowth
Source: Category Growth - Freshlook Database 52 weeks ending May 18, 2014 & IRI Database 52 weeks ending June 15, 2014
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• Continued growth in organic & premium carrot sub-segments
• Capturing opportunities in juicing trends
• Recent contract wins/renewals
• Operational savings & sustainability gains
Bolthouse Farms – Farms FY 14 Update+4%
Farms Net Sales
“2 Year CAGR”
Source: CAGR: July 2011 - June 2014
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Bolthouse Farms – FY15 Focus Areas
• Customer service / Quality as job #1• Lean into carrot trends
– Cello (Juicing)– Organic– Premiums– Fresh Snacking
• Test new “branded” packaging
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KEY GROWTH DRIVERS
FY13
Bolthouse Farms –CPG FY 14 Update (Beverages)
• Strong innovation track record
• Significant new channel availability
• Grocery/mass distribution & merchandising strength
• Packaging innovation
+15%Beverage
3 Year CAGR
FY14
+15%Beverage Net Sales
“2 Year CAGR”
Source: CAGR: July 2011 - June 2014
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$0
$5
$10
$15
$20
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$35P
5 03
P7
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9 03
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8 04
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11 1
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2 14
P4
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6 14
Tota
l Dol
lars
in M
illio
ns Brand Dollar Growth Over Time
Bolthouse Farms Beverage - A Growth Story
Source: Nielsen/IRI April 2003 Total U.S. – Current Period Ending 6/20/10 Total US Multi Outlet – Current Period Ending 6/15/14
2003 20142004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Bolthouse Farms
15%
SuperPremium
Juice Category52 week growth
Latest 4 Weeks
36.3% +16%
Dollar Share
DollarGrowth
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Bolthouse Farms-Spring 14 Beverage Innovation
• Veggie forward • Lower calories / sugar • Early velocities are strong
Daily Golden Vedge Daily Roots Multi-V Goodness Stone Fruit Tropical Goodness
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Bolthouse Farms - Bottle Size Innovation• Packaging innovations • Increasing consumer occasions • 11oz driving new availability
GRAB & GO
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Bolthouse Farms - Brand Building
Brand Investment Digital Brand Engagement Product Support
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VIDEO: Bolthouse Farms Sizzle Reel
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Bolthouse Farms –CPG FY 14 Update (Dressing)
CREAMY
BY SEGMENTBY SEGMENT
REFRIGERATED DRESSINGCATEGORY GROWTH
REFRIGERATED DRESSINGBOLTHOUSE FARMS GROWTH+7% +24%
GREEKVINAIGRETTENEW
NEW
+29%Dressing 2 Year Net
“Sales CAGR”
Source: CAGR: July 2011 - June 2014; IRI Total U.S. – Food, Current 4 weeks ending 6/15/14
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New Availability
Core / Baseline
Base Innovation
Bolthouse Farms – New AvailabilityC
OR
EB
REA
KTH
RO
UG
H
3 year growth drivers (FY 15-17)
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Bolthouse Farms – New Availability• Leveraging CSC resources where appropriate• Brand building channel
FY14- +19,000 DOORS
STRONG IN-STORE MERCHANDISING
EARLY VELOCITIES ARE SOLID
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New Availability
Core / Baseline
Base Innovation
Bolthouse Farms – Breakthough InnovationBreakthrough Innovation
CO
RE
BR
EAK
THR
OU
GH
Breakthrough Innovation
PackagedFresh
3 year growth drivers (FY 15-17)
1717
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Snacking is the NEW eating behaviorHealthy Snacking: Next Big Thing…
• Snacking growth outpacing total CPG growth
• Population of self-identified “healthy snackers” grew from 14% in 2004 to 18% in 2013 (41 million)
• 48% are willing to pay a premium for healthier snacks in 2013 (+11% vs. 2012)
…Except Kids Need Healthier Options
32% 23% 22% 20% 20%
0%5%
10%15%20%25%30%35%
Chips /pretzels
Fresh fruit Fruitsnacks
Ice cream Yogurt
• But, nearly half of kids studied WOULD eat healthier snacks, if available
• Kids’ favorite snacks tend to be unhealthful
Source: Mintel (2010), Progressivegrocer.com(2013), foodnavigator-usa.com (2014), IRI Snaxpo (2014)
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Convenience, driving fresh snacking category growth
Source: IRI MULO CY 2009-2013; Freshlook MULO CY 2012-2013
$7,273 $713 $651 $169 $163 $153 $31 $29 $-
$100
$200
$300
$400
$500
$600
$700
$800
Cut fruit Cut vegetable Cut fruit withdip
Juice /Smoothie
Fruit cup Cut vegetablewith dip
Fruit puree Hummussnack pack
Mill
ions
Notes:(1) Growth rate represents 2012-2013 as only two years of data are available for these segments.
4-Year CAGR +11%1 +14%1 +34%1 +85% -2% +29%1 +177% +57%
Single-serve,on-the-go items*
*Fruit cups are seen as highly processed with added sugar.
Top 8 Segments within Fresh Healthy Snacking Category(CY 2013 Dollar Sales)
$1.0BILLION
FRESH KIDSSNACKINGCATEGORY
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SMOOTHIES FRUIT TUBES VEGGIE SNACKERS
Bolthouse Farms - Kids Launch
An easy way for kids to get their servings of fruit
• Launch August 2014• Millennial mom with kids 4-11 years old• Strong digital marketing effort
A fun fruit snack moms can feel good about
Snacks that make veggies taste great for kids
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BolthouseFarms - Kids In-Store Merchandising
• Mom’s solution for healthier snacking
• Kids Fresh snacking destination
• Early reaction, very strong
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CPG FLEX LINE WAREHOUSE CAPACITY CPG PRODUCTION CAPACITY
Bolthouse Farms – Accelerating Future Growth
• Additional beverage capacity
• Bottle size capability
• Run size FLEXIBLITY
FLEXLINE
• Increase cold storage space by +75%
• DOUBLE existing freezer capacity
• Increase shipping capacity by +40%
CPG EXPANSION
WAREHOUSECAPACITY
Bev 1Fiber
BAKERSFIELDCAMPUS
• Beverage lines 4 & 5
• Expanded HPP capacity
• Packaged fresh
CPGEXPANSION
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Bolthouse Farms - Summary
• Win “Farms” with quality and customer service
• Drive operational excellence and productivity
• Fuel CPG growth through innovation, in-store acceleration, and availability
• Bring Packaged Fresh to market successfully
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