Bumble Bee Seafoods: A Dynamic Seafood Leader Driving Innovation and Sustainability
•Download as PPTX, PDF•
0 likes•38 views
Bumble Bee Seafoods is a leading seafood company in North America with over 100 years of history. It has six strategic growth initiatives to drive long-term success, including a focus on innovation through new products like Bumble Bee SuperFresh. Consumer trends support growth in categories like value-added frozen seafood. While Bumble Bee's base shelf-stable business remains strong, total category sales have declined. The company addresses sustainability through partnerships and initiatives to support fisheries management and reduce environmental impact.
Recommended
Recommended
More Related Content
What's hot
Similar to Bumble Bee Seafoods: A Dynamic Seafood Leader Driving Innovation and Sustainability
Similar to Bumble Bee Seafoods: A Dynamic Seafood Leader Driving Innovation and Sustainability (20)
More from Chris Lischewski
Recently uploaded
Recently uploaded (20)
Bumble Bee Seafoods: A Dynamic Seafood Leader Driving Innovation and Sustainability
- 1. Bumble Bee Seafoods December 2, 2014
- 2. Company Overview A Dynamic Organization for over 100 years
- 4. 3
- 5. 4
- 6. 6 5
- 7. 6
- 9. 8
- 10. 9
- 11. Strategic Initiatives Six Strategic Growth Initiatives for Long-Term Success
- 12. 11
- 13. Innovation Lion was the first partner that challenged us to grow
- 14. Our base business has attractive industry dynamics Total North American shelf-stable seafood sales Consumer Trends Source: Based on U.S. all channel dollar sales data from IRI and Canada all channel dollar sales data from MarketTrack Aging population Dual income households Nutritional awareness Single parent households Back to basics Focused on health and wellness Limited time for meals Increasingly focused on convenience and nutrition as a critical factor in product offerings Increasingly looking for smaller, more affordable, protein-based items Shift in consumer preferences towards simplicity and traditional comfort foods Focus on low-fat, low-calorie and high protein selections Increasing demand for products high in Omega-3 fatty acids $1,811 $1,833 $1,906 $1,926 $1,920 $308 $320 $315 $316 $317 $462 $467 $473 $466 $465 $2,582 $2,620 $2,694 $2,708 $2,701 2010A 2011A 2012A 2013A LTM June 2014 Tuna Salmon Specialty FDA revised advisory Updated guidance to be released in Fall 2014, recommending increased seafood consumption for all consumers ($m) 13 But volumes have been declining for 20 years
- 15. We maintain a diversified product portfolio and continue to innovate within shelf stable seafood But that has not offset the general category declines 14
- 16. So in 2010 we expanded our horizons Shelf-Stable $2.7bn Fresh / Frozen $9.7bn Value-Added Frozen $5.1bn North American seafood market is $17.5 billion North American Seafood Market 55.4% 15.4% 29.1% 15
- 17. 16
- 18. 17 Our first initiative was Bumble Bee SuperFresh
- 19. 18
- 20. Our label is clean and Mom loves its short list of natural, familiar ingredients Tilapia Extra Virgin Olive Oil Garlic Sea salt Black pepper GORTON’S SIMPLY BAKE TILAPIA Tilapia Water Canola Oil Salt Spices Modified Corn Starch Dehydrated Garlic Dehydrated Red Bell Pepper Maltodextrin Corn Starch Natural Flavoring Paprika Xanthan Gum Onion Powder Sugar Tapioca Dextrin Tocopherols Gum Arabic Ascorbic Acid Carageenan MRS. PAUL’S PARCHMENT BAKE CLASSIC GRILLED TILAPIA Tilapia Water Modified food starch Salt Maltodextrin Sugar Corn Syrup Solids Spices Dextrain Hydrolyzed Soy Protein Dried Garlic Paprika Extractive of Paprika Natural Flavors (with Cream) Citric Acid Dried Red Bell Pepper Yeast Extract Sunflower Oil Sodium Nitrate Caramel Color Soy Sauce Solids: Wheat Soybeans Salt Tamarinds HIGHLINER SELECTS WILD PACIFIC SALMON Pink or Chum salmon Fish Fillets Water Vegetable Oil (Canola) Modified Milk Ingredients Spices Roasted Garlic Sugar Modified Cellulose Hydrolized Plant Protein (Soy, Corn) Maltodextrin (Corn) Salt Flavour (Basil, Black Pepper, Butter, Garlic Grill (Oregano) Xanthan Gum, Sodium Phosphate Cellulose Gel, Sodium Erythorbate TRIDENT PANKO BREADED TILAPIA Tilapia, Enriched Bleached Wheat Flour (Niacin, Reduced Iron, Thiamine Mononitrate, Riboflavin, Folic Acid) Water Soybean and/or Canola Oil and/or Cottonseed Oil Yellow Corn Flour Modified Cornstarch Sugar Spice Garlic Powder Onion Powder Corn Starch Egg Whites Whey, Yeast Leavening, (Sodium Acid, Pyrophosphate, Baking Soda) Soy Flour Yeast Food Corn Syrup Solids Ascorbic Acid Microcrystaline Cellulose 58%* of consumers asked said that reading the ingredient list made them more interested in buying Bumble Bee SuperFresh® 19
- 21. • Northeast launch in June 2013 • 77% ACV achieved • All 6 skus in top 15% of premium frozen fish by dollar sales • Gaining trial, repeat is spectacular 20
- 22. 21 • Raw frozen tuna food service provider • Patented technology enhances fish • Product application to retail
- 23. 22
- 24. 23
- 25. Bumble Bee’s strategy has evolved since 2010 Innovation commitment is built on a foundation of base business strength Strong cost management discipline drives improved margins and results Leader in North American shelf- stable seafood 13.4% EBITDA margin Diversified growth in large and growing categories –#1 position in value added frozen and fresh / frozen segments Expansion into deli / refrigerated, “Kids”, and Snack segments $15.2% EBITDA margin –15% of sales outside shelf-stable seafood Commitment to innovation with several new products in test Expansion into value-added frozen and fresh / frozen segments 14.3% EBITDA margin 201820142010 24 From Renovation…..……to Innovation
- 26. Corporate Social Responsibility A core element of our business philosphy
- 27. Nourishing Lifestyles Sustaining Fisheries Conserving Resources Thriving Workplace Provide nutritious products and support active programs that add up to a balanced, healthy lifestyle for our consumers Work hard to preserve our precious aquatic resources through science-based fisheries management and initiatives Seek to reduce the environmental footprint of our operations, packaging and supply chain Contribute to a healthy, productive workplace that empowers our employees as well as our local community 26
- 28. Tuna is a widespread and plentiful natural resource Yellowfin FisheriesSkipjack Fisheries Albacore Fisheries Key Tuna Fisheries Bumble Bee Tuna Processing Facilities Sardine and clam facilities Santa Fe Springs, CA Trinidad Mauritius Fiji Bangkok Blacks Harbour - sardines Cape May - clams 27 Ningbo Global Tuna Fisheries
- 29. 28 However, catch has reached MSY 0 500,000 1,000,000 1,500,000 2,000,000 2,500,000 3,000,000 3,500,000 4,000,000 4,500,000 5,000,000 1950 1952 1954 1956 1958 1960 1962 1964 1966 1968 1970 1972 1974 1976 1978 1980 1982 1984 1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 MetricTons Global Tuna Catches 1950 - 2010 Albacore Bigeye tuna Yellowfin tuna Skipjack tuna Demand Exceeds Supply
- 30. Management lies with four multi-lateral RFMO’s 29 IATTC ICCAT IOTC WCPFC Tuna Regional Fishery Management Organizations But the political will to do what is necessary is lacking
- 31. Lack of action provided a fertile ground for ENGO’s 30 ENGO criticism impacts our customers and consumers IATTC ICCAT IOTC WCPFC
- 32. 31 The International Seafood Sustainability Foundation (ISSF) is a global coalition of leading scientists, the tuna industry and WWF, the world’s leading conservation organization, committed to science- based initiatives for the long-term conservation and sustainable use of tuna stocks, reducing by-catch and promoting ecosystem health In response, ISSF was formed in March, 2009 MAKEtheCOMMITMENT A Global Improvement Plan for Better Practices in Tuna fisheries
- 33. ISSF represents 70% of the world’s tuna processing capacity 32 ISSF is the first organization of its kind to combine the power of industry, science and the environmental community ISSF Industry Participation
- 34. 33 ISSF – A Five Year Vision for Tuna 1.Control and Reduce Fishing Capacity 2.Eliminate IUU Fishing 3.Mitigate By-catch 4.Expand Data Support 5.Advance Performance in Monitoring, Control, and Surveillance 6.Improve Overall Tuna Stock Health ISSF utilizes applied science, advocacy and direct action
- 35. • Global industry organizations to promote sustainability • Fishing & Living program • Reducing factory carbon footprint • First organization to achieve “Fair Trade” certification in fishing industry With Anova, we are now expanding our efforts to include developing coastal nations 34
- 36. • • 35
- 37. 41 -$54.1 -0.8 Turns 36 • North America's largest branded seafood company • Dynamic organization lead by industry best in class management team • Superior financial performance with proven track record for consistent growth • Grounded in core business with aggressive innovation agenda • Committed to ensuring a sustainable future BumbleBee ACompanyontheMove
- 38. 37