WINDOW SHOPPING
COOP Ale Works announces partnership
COOP Ale Works of Oklahoma City has announced an exclusive, statewide distribution partnership with Republic National Distributing Co.
Beginning in September, RNDC will distribute packaged and draft versions of all COOP core beer as well as seasonal and specialty beers. The portfolio includes F5 IPA, Native Amber Red IPA, Elevator Wheat, DNR Belgian Strong Ale, Horny Toad Blonde, Saturday Siren DryHopped Pilsner, four seasonal releases, the Territorial Reserve series, the DNR Cask-It series, the Id series and other special releases.
“In the nine-plus years COOP has been selling in our home market, we have become familiar with leadership and several staffers at RNDC,” COOP Sales and Marketing Director Sean Mossman said. “Their reputation and service level in the local market as well as their substantial corporate infrastructure were among the most attractive features of this potential partnership.”
“RNDC has been driving a craft beverage alcohol strategy for over eight years. The partnership with COOP was an ideal fit with their strategy to offer products that represent the spirit of the states where RNDC conducts business,” RNDC Oklahoma Executive Daniel Zeigler said. “The local craft segment is the fastestgrowing category in the beer industry and COOP is the largest craft beer brand in the state of Oklahoma.”
Dobson expands Shawnee fiber service
Dobson Technologies, an Oklahoma-based technology company, is expanding its fiber internet network in Shawnee.
Shawnee businesses along Dobson’s fiber route will now have access to high-speed fiber internet for businesses and “Dobson Connect” voice over internet phone solutions and more.
“Dobson believes all communities should have access to the latest business technologies,” Dobson President of Information Technology, Transport and Telecom Solutions Frank Franzese said. “Fiber internet technology allows businesses to expand and achieve more.”
Marie Callender’s, Hungry-Man get hitched
CHICAGO — Marie Callender’s and Hungry-Man are joining together in a deal intended to create a bigger player in the frozen food aisle.
ConAgra said Wednesday it is buying Pinnacle Foods for about $10.9 billion, citing in part the potential to capitalize on the recent resurgence of frozen food sales. But investors were skeptical of the combination, and shares of both companies fell.
ConAgra also owns the Banquet, Healthy Choice and Alexia frozen brands, while Pinnacle owns Birds Eye, Van de Kamp’s and Mrs. Paul’s. The companies also own other packaged food brands, such as Chef Boyardee, Reddi-Whip and Duncan Hines.
The deal comes amid optimism for supermarket freezer sections after years of disappointing sales. Kellogg reported a jump in frozen food sales earlier this year, citing more millennials focusing on healthier frozen food options. ConAgra also said its frozen and refrigerated unit is seeing growth, and CEO Sean Connolly said the category is just starting to benefit from modernization.
Spotify hire shows its desire for video
Spotify, place of childhood-music nostalgia and the latest Zedd remix, as home for the next “Next Top Model?”
As Tyra might say: It could be flawsome.
The Swedish-based streaming service announced Tuesday that it had hired Dawn Ostroff as its new chief content officer. For the past seven years, Ostroff has run Condé Nast Entertainment’s video operation. Before that she was a key figure at UPN, where she helped launch the Tyra Banks modeling extravaganza, and later ran prime-time programming for The CW during its “Smallville” and “Gossip Girl” heyday, along with more “America’s Top Model.”
That doesn’t sound like a rich streaming-music resumé. But Spotify wants to get deeper into original video, as it had been doing a lot of music-based stuff in that department. So it hired Ostroff, who at Condé Nast has produced movies such as the firefighting rescue drama “Only the Brave” and the VR serial “Invisible.”
General Mills’ profit tops expectations
General Mills Inc. reported a drop in its fiscal fourthquarter profit on higher costs but that performance topped Wall Street expectations and its sales improved. The maker of Cheerios cereal, Yoplait yogurt and other packaged foods also provided an upbeat outlook for fiscal 2019.
For the period ended May 27, General Mills Inc.’s profit fell 13.3 percent to $354.4 million, or 59 cents per share.
Earnings, adjusted for one-time gains and costs, were 79 cents per share. That’s better than the 73 cents per share analysts polled by Zacks Investment Research were calling for. Revenue rose 2.2 percent to $3.89 billion, with sales gains in every region except Asia and Latin America. Wall Street expected slightly higher revenue of $3.91 billion.
Durable goods orders fall for 2nd month
Orders for long-lasting U.S. factory goods declined for the second straight month in May, as demand for cars, metal products and aircraft fell.
The Commerce Department said Wednesday durable goods orders — items meant to last at least three years, from washing machines to tractors — dropped 0.6 percent last month. That followed a steeper drop of 1 percent in April. A category that tracks business investment slipped 0.2 percent, after a healthy gain of 2.3 percent in April. Even with May’s decline, factory output has expanded at a healthy clip in the past five months, running nearly 10 percent higher than in the same period last year. Businesses and consumers are increasingly confident and are spending more.
Still, American manufacturers are in the center of a growing storm over international trade that may be starting to weigh output. The Trump administration and Europe, China and Mexico have slapped punitive tariffs on each other’s factory goods.