‘Promoting each can of Pringles we are able to make’: Pringles demand surge forces producer to increase in Asia

“We’re selling every can of Pringles we can make,” Chief Government Officer Steve Cahillane stated Tuesday in Chicago. He spoke at an occasion downtown hosted by the Executives’ Membership of Chicago. “We’re opening new factories in Asia and Mexico even as we speak.” 

Cahillane stated the corporate needs to put money into high-growth manufacturers similar to Pringles. Kellanova wants the fried potato crisps to realize market share after it spun off its North American cereal business final 12 months in an effort to give attention to classes similar to snacking and frozen meals.

Kellanova can also promote extra merchandise abroad, particularly in African nations, in line with Cahillane. The corporate has a noodles enterprise in Nigeria that generates practically $1 billion in gross sales, he stated.

“Africa is, to me, the continent of this century and probably the next century,” he stated. “We made a big bet in Africa.”

Legacy meals corporations have been making an attempt to lure buyers with totally different meal occasions, together with extra snacks. Kellanova, primarily based in Chicago, owns manufacturers together with Cheez-It, RXBAR and Eggo frozen waffles. 

Nonetheless, the corporate’s North American enterprise has been beneath stress as customers stretch their {dollars}, lower meals waste and swap to non-public label amid persistent inflation. Within the newest quarter, the corporate’s volumes dropped greater than 6% in North America, whereas additionally declining in Europe.