The Checkout: New CEO at Vital Proteins; Snack Sales Spike Leading Up To The Super Bowl

Welcome to The Checkout: an express lane for the weekly news you need to know, always 10 items or less.

Vital Proteins Founder Steps Out Of CEO Role As Former CRO Takes The Lead

Tracey Warner Halama will take over as CEO of collagen brand Vital Proteins according to a post on her LinkedIn account earlier this week. Warner Halama has served as the brand’s Chief Revenue Officer and President for the past eight years and will assume the CEO position from Vital Proteins’ founder Kurt Seidensticker.

The collagen-focused function food and supplement brand, which Seidensticker launched in 2013, was acquired by Nestlé Health Sciences in 2020. At the time of the acquisition, Seidensticker said the ability to continue to operate the company as a standalone entity would help mitigate transitional challenges. Two years later, it appears he may be rolling back his involvement as Warner Halama takes the lead.

“This milestone would not be possible for the many women that sacrificed before me and the female leaders that are sure to follow,” Warner Halama said in a LinkedIn post. “I am eternally grateful for the steadfast love and support of my daughters – Sienna and Marina Halama, my parents, my partners, colleagues past and present and the entire Vital Family (too many to mention) who have risen to every adversity and challenge, the grit to persevere and the passion to build an epic unicorn brand.”

Warner Halama first joined the company in 2017 as SVP of Sales and quickly rose through various executive level leadership roles. Warner Halama thanked the company’s founder for his “vision, belief in the impossible and the long term partnership,” in the post.

Snack Sales Spike Leading Up To The Super Bowl

New snack data from IRI, commissioned by trade association SNAC International, found that sales for tortilla chips, potato chips, pretzels, pork rinds and refrigerated dips increased significantly during the week leading up to last year’s Super Bowl. According to the report, total snack food sales jumped 12.5% to $487 million during Super Bowl week in 2021.

“In America, football, snack foods and fun go together,” said Elizabeth Avery, President and CEO of SNAC, in a press release. “Regardless of where you’re watching the big game this year, we know the bowl of snacks will be at the center of your Super Bowl huddle.”

Additionally, the new report found that sales volume and spend also increased significantly compared to pre-pandemic Super Bowl levels, indicating that social distancing restrictions had little impact on how consumers gathered for the game. In total, Americans ate 112 million pounds of snacks on Super Bowl Sunday last year, the report found.

“Despite supply chain concerns impacting manufacturers of all kinds, America’s snack food companies are working overtime to ensure consumers have access to their favorite snack foods for the 2022 Super Bowl.” Avery stated.

Sunbasket Adds Fresh & Ready Bowls To Menu Offerings

Earlier this week, meal delivery service Sunbasket announced that it has expanded beyond meal kits with its Fresh & Ready bowls, aimed at catering to a growing demand for “lunch at-home” meals. The new ready-to-heat line includes 15 single-serve grain bowls, noodle bowls and burrito bowls which will be available on the brand’s menu this month.

“Consumers are looking for healthy, convenient, and modern meals that fit more seamlessly into their lifestyles,” said Don Barnett, CEO of Sunbasket, in a press release. “Sunbasket Fresh & Ready bowls are a high quality, nutrient-rich, alternative to unhealthy takeout or bland frozen food that busy consumers can heat and eat in minutes.”

The selection of meals will rotate each week, can be prepared in either the oven or microwave and include paleo, low-carb, pescatarian, vegetarian and gluten free diet friendly options. The debut menu offerings include a Middle Eastern chickpea and freekeh grain bowl, Sichuan glass noodle bowl made with Impossible plant-based beef and a burrito bowl with achiote-citrus braised pork, sweet corn, and black beans.

“Bowls are a fantastic way to get all the flavor and nourishment that your body craves in one convenient dish,” said Sunbasket’s Co-Founder and Executive Chef, Justine Kelly, in a press release. “Our Fresh & Ready bowls take you on a global culinary journey, filled with bold flavors and feel-good ingredients, within minutes and without any of the prep or clean up.”

PepsiCo Exceeds Revenue Expectations In Q4 Due to Strong Demand

PepsiCo released its fourth quarter earnings results yesterday, stating its net revenue growth accelerated past expectations, reporting a 12.4% increase during the quarter. However, the company adjusted its full-year guidance due to continued supply chain disruptions and said it will be taking price increases in order to mitigate inflation and input costs.

In terms of its better-for-you food portfolio brands including Bare, Popcorners and Smartfood, revenue increases reached double digits, according to a press release. Additionally, Quaker Oats delivered its strongest quarterly rate of organic revenue growth in 2021, increasing 9% during the quarter.

“We expect our North America beverage and convenient foods businesses to remain rational

and resilient, and our international markets to perform well despite an uneven recovery across geographies,” said PepsiCo Chairman and CEO Ramon Laguarta and Vice Chairman and CFO Hugh Johnston, in a joint statement.

The company also noted its continues to invest in its Pep+ initiative which intends to reorganize and rethink its “approach across different aspects of the value chain to better serve our people and the planet.”