Curation Foods Propels Business Growth with Innovation Launches
September 18 2019 - 9:15AM
Curation Foods Inc., a natural foods company focused on innovative,
plant-based foods, and one of two operating businesses of Landec
Corp. (Nasdaq: LNDC), announced today the launch of two distinct
innovations from two of its portfolio brands – Yucatan® and
BreatheWay® – each innovation utilizing existing technology and
resources to create new applications for broadened market growth
and increasing margins.
Curation Foods has introduced Yucatan Guacamole® Squeeze, a
first-of-its-kind packaged guacamole product in a flexible squeeze
pouch that allows for greater usage convenience and extended
shelf-life for reduced waste. In addition, BreatheWay has evolved
its patented membrane technology to go beyond maintaining optimal
atmosphere for individually packaged produce to offering a full
supply chain packaging solution for perishable products. Yucatan’s
and BreatheWay’s packaging solutions are the first key innovation
launches under the leadership of new CEO Dr. Albert Bolles,
aligning with company priorities of focusing resources on executing
fewer projects that have high impact to drive sustainable,
profitable growth.
“The foundation of our company is driven by innovation with our
consumers and customers in mind,” said Bolles. “And often the
biggest ideas and impact are achieved by making incremental, smart
innovations to existing products. By evolving our Yucatan and
BreatheWay brands in these ways, we’re expanding their abilities to
address unmet needs.”
Curation Foods’ fiscal 2020 strategy will focus on growing
higher margin products, growth that prioritizes making the company
better before bigger, delivering breakthrough product innovation,
all the while continuing to mitigate the cost pressures facing the
industry. Through his accomplishments at Gerber, PepsiCo and
ConAgra, Dr. Bolles has a successful history of driving innovation
by creating new markets and improving consumer experiences.
Yucatan Guacamole Squeeze: Innovative Packaging
Design
New Yucatan Guacamole Squeeze makes experiencing guacamole at
home and on-the-go more convenient and hassle-free. The innovative
packaging ensures that the homemade taste of Yucatan Guacamole is
ready for any occasion, including healthy snacking, special meals
and events. Made with 100% Hass Avocados, the unique design
maintains freshness and improves delivery of the product with an
innovative cap and nozzle that extends shelf-life to ten days after
opening and helps reduce food waste.
Yucatan Guacamole Squeeze expands Curation Foods’ market
penetration by transforming guacamole from mainly a dip to a
healthier condiment option, thus also expanding the entire market
for guacamole with this revolutionary new packaging. Like the
guacamole category, the condiment market is seeing expansive growth
driven by consumers looking for healthy products with high-quality
ingredients and plant-based spreads (Global Condiments Market
2019-2023, 2019). In introducing Yucatan Guacamole Squeeze, which
is available on shelves nationwide now, Curation Foods is primed to
see increased market share as a result. The design offers greater
convenience, which research has shown is an offering for which
consumers are willing to pay a premium. Consumer demand for
pre-packaged, convenient guacamole products is driven by increased
consumption of avocado products as a source of healthy fats and
healthy calories. According to IRI data for the twelve months
ending in May 2019, retail sales of guacamole were $389 million,
growing at 10.7% and with 91% ACV. Curation Foods brands Yucatan
and Cabo Fresh® together currently command 16% market share of the
guacamole category.
BreatheWay: Evolution of technology
usageCuration Foods’ patented BreatheWay packaging
technology keeps packaged fruits and vegetables fresh longer by
naturally establishing a beneficial atmosphere within the package
despite changing respiration rates and temperatures. Traditionally
the BreatheWay membrane has been adhered to individual produce
bags, but new thinking has expanded the market opportunity for
BreatheWay.
The brand has evolved its technology into full supply chain
packaging solutions. These new innovations have expanded the
brand’s capability to cover entire pallets of perishable fresh
fruits and vegetables, reducing shrink for retailers and extending
shelf-life for consumers. BreatheWay’s new supply chain packaging
solution is currently in the market, being used by Driscoll’s for
its raspberries delivered from California distribution centers.
Curation Foods is also testing multiple BreatheWay applications of
packaging solutions for adjacent perishable categories such as
stone fruit, citrus and flowers for U.S. and international
shipments.
About Curation
Foods
Curation Foods is focused on innovating delicious, plant-based
foods with 100% clean ingredients and increasing access of
plant-based foods to as many people as possible. Curation Foods is
able to maximize product freshness through its geographically
dispersed family of growers, refrigerated supply chain and patented
BreatheWay® packaging technology to ensure products reach consumers
throughout North America in the freshest possible state. Curation
Foods natural food brands include Eat Smart® fresh packaged
vegetables and salads, O Olive Oil & Vinegar® premium artisan
products, and Yucatan® and Cabo Fresh® avocado products. For more
information about Curation Foods visit www.curationfoods.com.
Important Cautions Regarding Forward-Looking
StatementsExcept for the historical information contained
herein, the matters discussed in this news release are
forward-looking statements that involve certain risks and
uncertainties that could cause actual results to differ materially,
including such factors among others, as the timing and expenses
associated with operations, the ability to achieve acceptance of
the Company's new products in the market place, weather conditions
that can affect the supply and price of produce, the timing of
regulatory approvals, the ability to successfully integrate Yucatan
Foods into the Landec Curation Foods business, and the mix between
domestic and international sales. For additional information about
factors that could cause actual results to differ materially from
those described in the forward-looking statements, please refer to
our filings with the Securities and Exchange Commission (“SEC”),
including the risk factors contained in our most recent Quarterly
Report on Form 10-Q and Annual Report on Form 10-K. Forward-looking
statements represent management’s current expectations and are
inherently uncertain. Except as required by law, we do not
undertake any obligation to update forward-looking statements made
by us to reflect subsequent events or circumstances.
Contact Information: |
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Media Inquiries: |
Investor
Relations: |
Leigh Lehman |
Jeff Sonnek |
Current Global |
(646) 277-1263 |
(310) 967-3409 |
Jeff.Sonnek@ICRINC.com |
LLehman@CurrentGlobal.com |
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