1-800-FLOWERS.COM, Inc. announced the closing of its sale of Fannie May Confections Brands, Inc., including its subsidiaries Fannie May Confections, Inc. and Harry London Candies, Inc. to Ferrero International S.A., (“Ferrero”). Ferrero, one of the world’s largest chocolate confectionery companies, is acquiring all the outstanding equity of Fannie May Confections Brands, Inc. for $115.0 million in cash, subject to adjustments for seasonal working capital. In addition to the sale, the Company and Ferrero have entered into a strategic commercial partnership that provides 1-800-FLOWERS.COM, Inc. with distribution rights for Fannie May, Harry London and certain Ferrero confectionery products in its ecommerce channels as well as in gift baskets sold into the club, food, drug and mass channels in the US. Click Read More below for more of the story.
RISI announced that Mark Kowlzan, Chairman and Chief Executive Officer of Packaging Corporation of America (PCA), has been named the 2017 North American CEO of the Year. The award will be presented to Mr. Kowlzan at the North American Conference on October 17, 2017 in Boston, Massachusetts at the Seaport Hotel. Analysts credited Kowlzan for growing PCA in containerboard and corrugated packaging – while at the same time operating the firm at the highest EBITDA margin among North American publicly-traded containerboard producers. In the first quarter this year PCA generated a 21.7% EBITDA margin – the highest among publicly-traded North American containerboard producers. One analyst said that PCA under Kowlzan has "continued to put up best-in-class margins and expand their converting presence. They have maintained a strong balance sheet and with stock at all-time highs are poised for another growth step." Click Read More below for more of the story.
Oil fell after the agreement last week by the Organization of Petroleum Exporting Countries and its partners to prolong supply curbs for nine months disappointed investors hoping for more. Saudi Arabia’s Energy Minister Khalid Al-Falih said the cuts are working and predicted global inventories will fall to the five-year average early next year. West Texas Intermediate for July delivery was at $48.87 a barrel on the New York Mercantile Exchange, down 79 cents, at 10:32 a.m. in London. Total volume traded was 18 percent above the 100-day average. The contract lost 14 cents to $49.66 on Tuesday. There was no settlement Monday because of the U.S. Memorial Day holiday. Brent for July settlement, which expires Wednesday, dropped 91 cents, or 1.8 percent, to $50.93 a barrel on the London-based ICE Futures Europe exchange. The global benchmark crude traded at a premium of $2.07 to WTI. The more actively traded August contract slid 86 cents to $51.38. Click Read More below for more of the story.
A decision due from the president this week on whether to pull the U.S. out of the deal involving almost 200 nations could have a domino effect on the participation of other countries in limiting fossil-fuel pollution, making it almost impossible and extremely expensive to stop catastrophic climate change. That’s the conclusion of researchers and scientists evaluating the impact of Trump on the health of the climate. While forecasting the state of the environment more than 80 years into the future is a notoriously inexact exercise, academics gathered by the the United Nations at the Intergovernmental Panel on Climate Change are concerned the world is headed for “extensive” species extinctions, serious crop damage and irreversible increases in sea levels even before Trump started to unpick the fight against global warming. Click Read More below for more of the story.
Sheridan has acquired PubFactory, the industry-lauded online publishing platform for journals, books, and reference works, from O’Reilly Media. PubFactory will continue to be based out of Boston, MA, and will blend seamlessly into the Sheridan stable of publisher technology products and services. The PubFactory team has been developing and delivering scholarly publishing technologies since 1999. In 2010, the PubFactory platform officially launched with the deployment of several major Oxford University Press products. This was quickly followed by the International Monetary Fund’s eLibrary and De Gruyter’s journals, books, and database products launching in 2011. Notable publishers including Bloomsbury Publishing, Brill, Edward Elgar Publishing, Harvard University Press, Peter Lang, and others have since joined the growing list of PubFactory customers. PubFactory’s configurable suite of front-end and back-end capabilities allows for optimal support across content types, making it a truly content agnostic platform that is host to 1400+ journals, 400,000+ books, and numerous database and reference work products. Click Read More below for additional detail.
The Standard Group, a privately held, enterprise print management and marketing logistics company with primary locations in Reading and Lititz, Pa., has acquired the sales and select assets of Phoenixville, Pa.-based Epic Litho. With the acquisition of Epic Litho, The Standard Group increases its printing ability to support luxury brands, commercial real estate, higher education, art galleries and auction houses. The acquisition will also help increase its presence in both the New York City and Philadelphia metro markets. According to Thanh Nguyen, who serves in a marketing and product development capacity at The Standard Group, current plans are to keep the Epic Litho production facility open for about a year before eventually consolidating it into Standard’s current operations. Click Read More below for additional detail.
R.R. Donnelley & Sons Company will exhibit its expansive portfolio of end-to-end solutions for retailers at the annual Internet Retailers Conference and Exhibition (IRCE) event. IRCE, which will take place June 6-9, 2017 at McCormick Place West in Chicago, provides an environment for retailers, solution providers and industry experts to network and discuss the latest trends in eCommerce technology. "IRCE provides a great opportunity for RRD to engage with the online retail community and further explore the evolving trends in this very pivotal sector," stated John Pecaric, Chief Commercial Officer at RRD. "We are excited to share our innovative and customizable offerings with IRCE attendees. From tailored, personalized communications to streamlined and optimized supply chain solutions, our end-to-end suite of capabilities help today's retailers successfully differentiate themselves with their consumers.” Click Read More below for additional detail.
UPM Biofuels has again received a new acknowledgement of the sustainability of its value chain by receiving an RSB (The Roundtable on Sustainable Biomaterials) certificate for both UPM BioVerno renewable diesel and naphtha, as well as production sidestreams turpentine and pitch. RSB verifies the sustainability and reliability of feedstock sourcing and production. In RSB certification, the sustainability of biofuels is evaluated against 12 principles which have been approved by many stakeholders, including NGOs and UN agencies. In addition to the greenhouse gas savings compared to fossil fuels, the RSB principles cover biodiversity, human rights and environmental and social responsibility throughout the value chain. RSB is one of the European Commission's approved voluntary schemes, which can be used to show compliance with the EU Renewable Energy Directive's sustainability criteria. RSB certification can also be used to verify the sustainability of biomaterials for non-energy applications. UPM Biofuels uses crude tall oil, a residue from pulp production, to produce both biofuels and biomaterials in its Biorefinery in Lappeenranta, Finland. Click Read More below for additional detail.
“OPEC has done enough to establish a floor, but at this stage the best they can probably hope for its to see oil hold around these levels,” said Ole Sloth Hansen, head of commodities strategy at Saxo Bank A/S in Copenhagen. “We are in a wait-and-see mode. Major fund buying will only be seen once data begins to support.” West Texas Intermediate for July delivery slipped 19 cents to $49.61 a barrel on the New York Mercantile Exchange as of 9:38 a.m. London time. There was no settlement Monday because of the U.S. Memorial Day holiday. Brent for July settlement lost 38 cents, or 0.7 percent, to $51.91 a barrel on the London-based ICE Futures Europe exchange. Prices on Monday rose 14 cents to $52.29. The global benchmark traded at a premium of $2.29 to WTI. Click Read More below for more of the story.
Building on the success of its cold certified thermochromic inks, Coors Light has rolled out a summer promotion that marks the first application of photochromic inks in partnership with CROWN Beverage Packaging North America, a business unit of Crown Holdings, Inc. The Coors Light Summer Certified cans program, which kicked off in May and will run all summer, features six limited edition cans with sunlight-activated specialty inks and printing, and encourages consumers to enjoy the refreshing, crisp taste of an ice-cold Coors Light outdoors. The series of Coors Light collector cans, available in 355ml and 473ml sizes, will be released in phases throughout the summer. “Our market research has shown that one of the top drivers of consumer purchase intent is ‘packaging that stands out.’ This innovation, which leverages both photochromic and thermochromic inks, will be a key differentiator for Coors Light this summer,” noted Garrick Frittelli, Assistant Marketing Manager for Coors Light. “These inks will bring the can to life like never before by revealing bold, bright colors when the cans are exposed to the sunlight. We know Canadian summers are short, and we know Canadians want to make the most of the sun and patio season. These cans with photochromic ink will heighten the outdoor, summer drinking occasion for our consumers. The colder the beer, the brighter the colors – both cold certified and summer certified.” Click Read More below for additional detail.