Heinz ketchup maker Kraft Heinz said on Friday 3G Capital partner and Goldman Sachs alum David Knopf, 29, would replace Paulo Basilio as its chief financial officer, starting in October.
Kraft Heinz , backed by billionaire investor Warren Buffett and private equity firm 3G Capital, also said Basilio would become president of its U.S. business, while Chief Operating Officer George Zoghbi will transition to a strategic adviser role. The leadership changes come as the global food giant tries to reignite growth, Bloomberg reports. Earlier this year Kraft Heinz and other big food makers blamed soft sales on declining interest in packaged foods in the U.S.
Knopf, 29, currently the vice president and category head of Kraft Heinz ‘s Planters nuts business, has worked with 3G Capital on mergers involving companies such as Burger King and H.J. Heinz Co. 3G Capital orchestrated the Heinz and Kraft Foods Inc. merger back in 2015.
Coca-Cola is unveiling a fully plant-based PET (bPET) bottle prototype, excluding the cap and label. The beverage giant has produced a limited run of 900 bottles, confirming the prototypes are recyclable within existing recycling infrastructures, alongside PET from oil-based sources.
McDonald’s and Starbucks are committing an additional US$10 million to the NextGen Consortium, an initiative aiming to improve environmental sustainability standards in the foodservice industry. Founded by investment firm Closed Loop Partners, the Consortium is investigating methods of advancing the design, commercialization and recovery of packaging materials.
Hortifrut is purchasing Atlantic Blue for US$280 million. Atlantic Blue is a key player in the growing and marketing of berries in Europe and Northern Africa, based in Huelva, Spain. The transaction will allow Hortifrut to expand its growing area by about 20% and consolidate its position as the largest fresh blueberry platform in Europe and the UK.