Butterfly announced the separation of its portfolio company Bolthouse Farms into two standalone entities: Bolthouse Fresh Foods and Generous Brands. Bolthouse Fresh Foods will carry on the century-old legacy of Bolthouse Farms as a leading supplier of fresh carrots to retailers across North America, with nearly 700 million pounds of carrots sold annually. Generous Brands will encompass the market-leading premium fresh beverage and salad dressing businesses of Bolthouse Farms and Evolution Fresh.
Butterfly acquired Bolthouse Farms from Campbell Soup Company in a carveout transaction in 2019. Butterfly has implemented numerous strategic initiatives that have driven topline growth in excess of 30 % while re-establishing the company as a partner of choice to produce departments across North America. Bolthouse Farms also acquired Evolution Fresh from Starbucks in August 2022, uniting two powerhouse beverage brands with complementary product offerings, channel penetration and consumer bases.
This separation is being facilitated by way of separate debt recapitalisations of each business, enabling Bolthouse Fresh Foods and Generous Brands to continue onward as two separate companies with purpose-built strategies and leadership teams. Butterfly expects these transactions to enable accelerated growth via increased flexibility for investment in capabilities as well as acquisitions.
“We’re incredibly excited to announce the separation of Bolthouse Farms into two distinct industry-leading platforms, which will further propel the growth of these businesses and their ability to outperform for customers throughout the world,” said Adam Waglay, Co-Founder and Co-CEO of Butterfly. “This separation was always part of our investment thesis, and we have recruited best-in-class leadership teams which are strategically aligned to each business so that Bolthouse Fresh Foods can focus on delivering high quality, fresh produce with excellent service and Generous Brands can become a strong, consumer-centric business with superior fresh beverage brands.”
Butterfly Operating Partner Jeff Dunn has been promoted from CEO to Executive Chairman of both companies, while two veteran food industry executives were brought in to serve as the respective go-forward CEOs of the companies. Timothy Escamilla, former President of Dole Fresh Vegetables, has been appointed CEO of Bolthouse Fresh Foods, while Steve Cornell, former President of Fresh, Beverages and Desserts at The Kraft Heinz Company, has been appointed CEO of Generous Brands.
“Bolthouse Fresh Foods remains dedicated to nourishing people’s lives by providing high-quality, nutrient-dense products that continue to thrive in today’s dynamic marketplace,” said Timothy Escamilla, CEO of Bolthouse Fresh Foods. Timothy joined Bolthouse Fresh Foods as CEO in May 2023 with 30 years of experience in the produce industry across leading companies such as Dole, Tanimura & Antle, Ready Pac Foods and more.
“Generous Brands is an exciting consumer-centric platform, with iconic and fresh beverage brands,” said Steve Cornell, CEO of Generous Brands. “This transaction will enable Generous Brands to meet the needs of more consumers through more innovation, new investments in our business, and acquiring complementary brands to take our platform to its full potential.” Steve joined Generous Brands as CEO in January 2024, bringing with him over 15 years of experience at Kraft Heinz, having led globally recognised brands such as Heinz, Philadelphia and Capri-Sun, among others.
“This separation is proof that the future of value creation within private equity is grounded in deep operational expertise and transformation through specialisation, and we could not be more appreciative of the amount of work, creativity and collaboration that went into this from all teams,” said Jeff Dunn, Executive Chairman of Bolthouse Fresh Foods and Generous Brands and Operating Partner of Butterfly. “It’s been amazing to watch the two entities develop their own unique cultures during the transition, and we are proud of the robust teams we have built across the companies. By separating, each business is now unleashed to drive its own unique growth strategy to ultimately deliver more fresh, healthy food for more people.”
The outlook for consumption of fresh fruit and vegetables remains under pressure in the European Union. These are the conclusions from the latest consumption trends discussed in Freshfel Europe through a review of trends in Member States, covering 75 % of the EU population. Despite a very positive momentum for consumption growth, many barriers are severely impacting the move towards a healthier and more sustainable diet for European consumers.
The latest findings from the Freshfel Europe Consumption Monitor reveal that the average consumption for fresh produce stands at an average of 364 g/capita/day for 2021, a figure that could decline by ca 10 % in 2022 once the final data for last year is known. This is particularly worrying at it stays well below the minimum 400 gr. recommendation of WHO. These figures are driven by the low level of consumption by millennials and the youngest generations, which are tomorrow’s consumers. Under the difficult economic conditions, the consumption among the low-income population is also of particular concern. Informing and engaging with consumers to choose healthy, affordable and sustainable diets was identified as a priority not only for Freshfel Europe but also for retailer organisation EuroCommerce and the consumer organisation BEUC who attended the meeting to share their perspectives.
The economic crisis impacting all Member States following the war in Ukraine and growing protectionism in the world is severely impacting consumer purchasing power and limiting their food expenditure. In times of crisis, these consumers tend to move towards a less healthy diet, which is perceived to be more energy satisfactory and a cheaper food option. Freshfel Europe General Delegate Philippe Binard underlined, “Consumers have a basic misperception about fruit and vegetable prices on the shelf in supermarkets. Fruit and vegetables are the most affordable products and have also undisputed health and environmental assets. Price and value of fresh produce are both very attractive in the food assortment”. He added, “Compared to other food categories, rises in fruit and vegetable prices have been lower than the average inflation. A diet with 5 portions a day or half of the plate with fruit and vegetables can be achieved by EUR 1 or EUR 2 per person per day. Comparatively, for public expenditure of social security, the cost of unhealthy diets results to be twice as high of the total food market value, corresponding to EUR 6 trillion expenditure for social security in the EU according to the World Economic Forum”.
There is a need for the sector to bridge the gap between awareness of the benefits of fresh produce and concrete actions to be undertaken by authorities as well as by consumers. According to Eurostat survey, only 12 % of consumers across the EU reach their 5 portions per day and alarmingly 33 % do not eat fruit and vegetables every day. It is important now to build on the renewed interest of consumers during the COVID-19 pandemic to take time to prepare, cook and eat a wide diversity of fruit and vegetables.
Fresh produce has been demonstrated to be an essential segment of the food assortment and is part of the solution to the objectives of the European Green Deal (contribution to carbon neutrality and low CO2 emissions), the Farm to Fork Strategy (move towards a plant diet) and the EU Beating Cancer Plan (preventive role of fruit and vegetables for non-communicable diseases).
Mr. Binard commented, “Regretfully, policy makers fail to be coherent in the implementation of these strategies and lack ambition in their measures, which should use fresh produce as an essential driver for success for their strategies”. Efficient promotion policy towards generation Y (millennials) and Z as well as education programmes in schools for generation alpha are crucial. The sector also has an important role to play in accompanying consumers to convert their awareness of the health benefits of fresh produce into concrete eating behaviours. In addition, better communication with consumers on expectations regarding societal concerns, price and image misperception will remain key while providing attractive tastes, diversity and convenience of products. This is an essential sector’s responsibility to compete with other food categories.
The latest consumption trends indicate that consumption levels are in decline. The purchasing power of consumers is under pressure due to inflation and high household energy bills. This is changing purchasing patterns away from premium quality and organic products, towards searching for promotions and discount prices, as well as reducing purchase quantities. Mr. Binard emphasized, “In this changing environment it is important to continue to build value for our products despite price becoming the sole priority of consumers. The affordability of fresh produce needs to be reminded to consumers and put in perspective of other food as being a cheap and healthy option. Consumers will have also to take their share of the rising costs for producers and other stakeholders in the supply chain to guarantee profitability and survival of the essential fruit and vegetable sector.”
In 2021, the market size for fresh fruit and vegetables amounted to 75 Mio T out of which comprises 11,6 Mio T in Italy, 11 Mio T in Germany, 10 Mio T in France, 9 Mio T in Spain and 7,2 Mio T in Poland. The most consumed fruit in Europe are apples, bananas, oranges, tables grapes and peaches/nectarines, while blueberries is the segment that is experiencing the most dynamic growth in many members states such as Germany and Poland. For vegetables, tomatoes, cabbages, carrots, cucumbers and sweet peppers are the most consumed products respectively.
In their review of the latest drivers of consumption, Freshfel Europe members confirmed that price is predominantly influencing the decision of consumers in recent months across Europe and consumers are buying less alimentary items. Mr. Binard further clarified, “This trend is impacting the frequency and place of buying, where a concentration of purchase is occurring in the beginning of the month along with a reduction of ingredients and items purchased. Premium labels and organic sales are those segments declining more”. Besides, Association members also reconfirmed that consumers remain adamant to buy local and seasonal, are eager to be informed about origin, variety, method of production, sustainable practices and when appropriate preparation or consumption tips.
Freshfel Europe members remain confident that fresh produce consumption can be stimulated in the coming months by building partnerships across the supply chain with all actors, providing quality and affordable products, and giving confidence to retailers to build the share of the category as an essential part of a sustainable and healthy diet for European consumers in 2023.
The free annual Trend Report published by FRUIT LOGISTICA provides expert analysis of the industry’s most important trends and key developments and is now available for download on the website.
One day before the start of FRUIT LOGISTICA, which takes place in Berlin from 8 to 10 February, the leading trade show for the fresh produce business publishes ist Trend Report. It discusses the challenges of the fruit and vegetable industry and contains free and valuable information about the future and what it means for businesses.
Entitled “What next for fresh produce? Key trends for the fruit and vegetable business in 2023”, the report contains a series of interviews about important topics like cost inflation, climate change, ethical trade, food waste, branding, category growth, and the application of new and exciting technologies.
The exclusive, in-depth interviews feature experts who understand the industry’s most significant trends, the challenges those trends present, and how companies can take advantage of them.
The FRUIT LOGISTICA Trend Report is now available for download on the website.
The outlook for consumption of fresh fruit and vegetables remains under pressure in the European Union. These are the conclusions from the latest consumption trends discussed in Freshfel Europe through a review of trends in Member States, covering 75 % of the EU population. Despite a very positive momentum for consumption growth, many barriers are severely impacting the move towards a healthier and more sustainable diet for European consumers.
The latest findings from the Freshfel Europe Consumption Monitor reveal that the average consumption for fresh produce stands at an average of 364 g/capita/day for 2021, a figure that could decline by ca 10 % in 2022 once the final data for last year is known. This is particularly worrying at it stays well below the minimum 400 gr. recommendation of WHO. These figures are driven by the low level of consumption by millennials and the youngest generations, which are tomorrow’s consumers. Under the difficult economic conditions, the consumption among the low-income population is also of particular concern. Informing and engaging with consumers to choose healthy, affordable and sustainable diets was identified as a priority not only for Freshfel Europe but also for retailer organisation EuroCommerce and the consumer organisation BEUC who attended the meeting to share their perspectives.
The economic crisis impacting all Member States following the war in Ukraine and growing protectionism in the world is severely impacting consumer purchasing power and limiting their food expenditure. In times of crisis, these consumers tend to move towards a less healthy diet, which is perceived to be more energy satisfactory and a cheaper food option. Freshfel Europe General Delegate Philippe Binard underlined, “Consumers have a basic misperception about fruit and vegetable prices on the shelf in supermarkets. Fruit and vegetables are the most affordable products and have also undisputed health and environmental assets. Price and value of fresh produce are both very attractive in the food assortment”. He added, “Compared to other food categories, rises in fruit and vegetable prices have been lower than the average inflation. A diet with 5 portions a day or half of the plate with fruit and vegetables can be achieved by EUR 1 or EUR 2 per person per day. Comparatively, for public expenditure of social security, the cost of unhealthy diets results to be twice as high of the total food market value, corresponding to EUR 6 trillion expenditure for social security in the EU according to the World Economic Forum”.
There is a need for the sector to bridge the gap between awareness of the benefits of fresh produce and concrete actions to be undertaken by authorities as well as by consumers. According to Eurostat survey, only 12 % of consumers across the EU reach their 5 portions per day and alarmingly 33 % do not eat fruit and vegetables every day. It is important now to build on the renewed interest of consumers during the COVID-19 pandemic to take time to prepare, cook and eat a wide diversity of fruit and vegetables.
Fresh produce has been demonstrated to be an essential segment of the food assortment and is part of the solution to the objectives of the European Green Deal (contribution to carbon neutrality and low CO2 emissions), the Farm to Fork Strategy (move towards a plant diet) and the EU Beating Cancer Plan (preventive role of fruit and vegetables for non-communicable diseases).
Mr. Binard commented, “Regretfully, policy makers fail to be coherent in the implementation of these strategies and lack ambition in their measures, which should use fresh produce as an essential driver for success for their strategies”. Efficient promotion policy towards generation Y (millennials) and Z as well as education programmes in schools for generation alpha are crucial. The sector also has an important role to play in accompanying consumers to convert their awareness of the health benefits of fresh produce into concrete eating behaviours. In addition, better communication with consumers on expectations regarding societal concerns, price and image misperception will remain key while providing attractive tastes, diversity and convenience of products. This is an essential sector’s responsibility to compete with other food categories.
The latest consumption trends indicate that consumption levels are in decline. The purchasing power of consumers is under pressure due to inflation and high household energy bills. This is changing purchasing patterns away from premium quality and organic products, towards searching for promotions and discount prices, as well as reducing purchase quantities. Mr. Binard emphasized, “In this changing environment it is important to continue to build value for our products despite price becoming the sole priority of consumers. The affordability of fresh produce needs to be reminded to consumers and put in perspective of other food as being a cheap and healthy option. Consumers will have also to take their share of the rising costs for producers and other stakeholders in the supply chain to guarantee profitability and survival of the essential fruit and vegetable sector.”
In 2021, the market size for fresh fruit and vegetables amounted to 75 Mio T out of which comprises 11,6 Mio T in Italy, 11 Mio T in Germany, 10 Mio T in France, 9 Mio T in Spain and 7,2 Mio T in Poland. The most consumed fruit in Europe are apples, bananas, oranges, tables grapes and peaches/nectarines, while blueberries is the segment that is experiencing the most dynamic growth in many members states such as Germany and Poland. For vegetables, tomatoes, cabbages, carrots, cucumbers and sweet peppers are the most consumed products respectively.
In their review of the latest drivers of consumption, Freshfel Europe members confirmed that price is predominantly influencing the decision of consumers in recent months across Europe and consumers are buying less alimentary items. Mr. Binard further clarified, “This trend is impacting the frequency and place of buying, where a concentration of purchase is occurring in the beginning of the month along with a reduction of ingredients and items purchased. Premium labels and organic sales are those segments declining more”. Besides, Association members also reconfirmed that consumers remain adamant to buy local and seasonal, are eager to be informed about origin, variety, method of production, sustainable practices and when appropriate preparation or consumption tips.
Freshfel Europe members remain confident that fresh produce consumption can be stimulated in the coming months by building partnerships across the supply chain with all actors, providing quality and affordable products, and giving confidence to retailers to build the share of the category as an essential part of a sustainable and healthy diet for European consumers in 2023.
The sectors professionalisation is evolving in an ever uncertain and disruptive environment with more and more complex regulatory and business requirements to cope with societal and environmental concerns. In this context, Freshfel Europe is supporting initiatives for the sector such as the SHAFFE Master degree for the global fresh produce sector aiming at continuous training and education of its fresh produce business professionals.
The fresh produce industry is rapidly changing due to different factors. This is evident today, as the sector is affected not only by adverse weather conditions due to climate change, but also by complex logistical situations, the Covid pandemic, the rising production costs and the consequences of the war in Ukraine which has generated shortages of materials to produce and difficulties in accessing these conflicting markets.
In addition to all this, regulatory changes in the markets, and the emergence of more and more sustainability requirements are other aspects to be considered for the professionals of the fresh produce industry. Today the industry faces a more informed and demanding consumer, as well as a lower availability of workers, among others.
Philippe Binard, General Delegate of Freshfel Europe commented: “Freshfel Europe is please to support the Master in Communication, Marketing and International Management for fresh produce professionals designed by SHAFFE. This will fill a gap and respond to the needs of industry professionals involved in global trade in this changing and challenging environment”.
The master’s degree launched by SHAFFE is a unique opportunity to achieve this goal while motivating young talent to be part of a very professional business environment.
More information and registration at https://masterinfreshproduce.com/
The promotional campaign of the 37th edition of Macfrut, the trade fair for the fresh produce industry to be held in May 2020 in Rimini (Italy), has begun. International missions are underway and early booking is now available.
Registrations are now open for the next edition of Macfrut, the international fruit and vegetable trade fair organised by Cesena Fiera, which will be held from 5 to 7 May 2020 at the Rimini Expo Centre (Italy). Last year’s numbers show that Macfrut is a growing trade fair, which year after year has become a major benchmark event for companies operating in the sector and seeking to expand their network of business contacts in new markets. In 2019, 43,500 visitors came to Rimini to attend the three-day event, and a quarter of them were from abroad: 50 % from Europe, 17 % from Central and South America, 14 % from Eastern Europe and Russia, 10 % from Africa, and 9 % from the Middle and Far East. As far as exhibitors are concerned, 20 % of the more than 1,000 participating companies were from abroad. The following is a breakdown of exhibitors by sector: 39 % production and trade, 17 % machinery and technology for sorting and packing, 14 % packaging, 13 % logistics and services, 7 % machinery and technology for plant growing and protection, 5 % plant nurseries and seeds, and 5 % fertilisers and crop protection products.
The 37th edition of Macfrut will be packed with brand new content to further increase business opportunities for companies in the fresh produce industry. Among these, the “Spices & Herbs Global Expo”, an area entirely dedicated to the world of spices, officinal and aromatic herbs, will be set up for the first time not only in Rimini but also in Europe. In addition to the exhibition area, interested companies will have the opportunity to participate in various side events and conferences on these topics and to reach out to and make contact with new customers from all over the world, especially from Asia and Africa, and to benefit from a custom schedule of B2B meetings. On this occasion, Ismea – Institute of Services for the Agricultural and Food Market – will introduce the Global observatory on spices and officinal herbs and, for the first time, will provide an overview of this rapidly growing sector, although the data currently available is not yet sufficient to provide a snapshot of the situation.
With the early booking offer, which is valid until 31 December 2019, companies interested in participating in the 2020 edition can register at a reduced fee. All the details are available in the dedicated section of the official website of Macfrut, www.macfrut.com.