“What does the next normal look like, and when does it become the new normal?” A quote that applies to nearly everything right now, but in this instance, it’s referring to marketing frozen and refrigerated foods. On this week’s From the Cold Corner Podcast, I talk with Jeff Rumachik, EVP and COO of the National Frozen & Refrigerated Foods Association (NFRA) about promoting cold foods to consumers amid the COVID-19 pandemic.
The adage, "shoot for the moon and you'll still land among the stars" comes to mind when assessing frozen food sales since early March. The rocket launch of consumer stockpiling created astronomical sales figures that were impossible to sustain, but now that buying has leveled off, the year-over-year numbers look like they'll be hovering around +30% over 2019 sales for weeks to come, if not the rest of 2020, according to new data from the American Frozen Food Institute (AFFI) and 210 Analytics. That means the meteoric sales arc created by panic buying in March has a long way to go before it comes down to normal levels.
This week on our From the Cold Corner podcast, I interviewed Lowell Randel, VP of government and legal affairs at the Global Cold Chain Alliance (GCCA) for the very latest developments regarding COVID-19's impact on the cold food supply chain.
New F&B Group originated $100 million in credit facilities in 2019.
January 22, 2020
BHI, a full-service commercial bank, announced that its Food & Beverage Group has arranged a $16.5 million credit facility for White Toque, a leading importer and distributor of European specialty fine foods. With this financing, BHI’s new F&B Group, which launched last year, originated over $100 million in credit facilities across various F&B categories in 2019.
Whether it’s through recyclable packaging, carbon footprint reduction, equipment that promotes operator safety or creating a pleasant work/life balance, the food and beverage industry is as much about corporate responsibility as it is about manufacturing foods and beverages.
The May 2020 issue of Refrigerated & Frozen Foods magazine highlights sustainable solutions for companies along the cold chain, plus coronavirus and food safety coverage, lift truck technology, pizza innovations, new dairy and dairy-alternative products, plus much more—just click the stories below to start reading.