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Kraft Heinz US President Talks Pandemic Food Trends, Planters Sale

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Kraft Heinz US President Talks Pandemic Food Trends, Planters Sale

One of the biggest food trends throughout the COVID-19 pandemic was an increase in at-home eating.

Despite the U.S. government ramping up the COVID-19 vaccine rollout, these trends aren't going away, Kraft Heinz Co (NASDAQ: KHC) President Carlos Abrams-Rivera said on CNBC's "Squawk Box."

Increasing Household Penetration: Kraft's household penetration increased in the fourth quarter, along with higher repeat purchases, the executive said.

Early data from 2021 points to more of the same, and there is no indication of any imminent shifts, he said. 

"I think this is something that is structurally going to stay with us for a long time."

To take advantage of these trends, Kraft is focused on delivering customers a balance of value and quality along with health and sustainability benefits, Abrams-Rivera said.

For example, the iconic Oscar Mayer brand is undergoing a process of "cleaning the ingredients line," he said.

Elsewhere, the Mac & Cheese brand will include a microwavable and recyclable cup.

Related Link: Why Kraft, Tyson, Molson Coors And More Food, Beverage Stocks Are Moving

The Planters Sale: Kraft confirmed Thursday the sale of its iconic Planters brand as part of management's commitment to focus exclusively on brands and product lines that offer better growth potentials.

The sale of Planters was "the right thing to do for the business," as the company is emerging with a strong portfolio going forward, Abrams-Rivera said.

Kraft's 2021 Outlook: Kraft previously guided 2021 EPS to be higher by 2% to 3% year-over-year, but management revised its outlook on Thursday and guided to an even better performance.

"We started the year very well, we are seeing that through January and February," he said.

 

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