Jul 2015 Financial News

Tropical Rhythms introduces new Latino flavour to its line-up

Jul 03, 2015

GRACEKENNEDY has introduced a pineapple coconut flavour to the market via its Tropical Rhythms brand.

The new flavour comes in line with the company's most recent investment of US$200,000 ($23.2 million) on the production of recyclable plastic labels to increase its attractiveness on the global market.

Group CEO Don Wehby told the Jamaica Observer that the coconut flavour combined with the delicious tropical pineapple flavour was deemed desirable by the consumers surveyed and is on trend globally.

"The new flavour is expected to thrill our Tropical Rhythms consumers -- both new and current loyal ones. This exciting flavour is delicious on its own or as a chaser," Wehby told the Caribbean Business Report.

The product was launched in Jamaica last month and will be marketed in the United States and Caribbean later this month, after which other international markets will follow. The flavour is similar to an alcohol-free pina colada, a famous Cuban cocktail made from rum, pinaeapple juice and coconut milk. The new Tropical Rhythms flavour could be popular with the Latino market in the USA, and may assist in the company's Latino market strategy.

"Think about this, colleagues and shareholders, we have acquired a portfolio of the Hispanic brand La Fe. When Cuba opens up, GK [will be in a] position through our La Fe brand to enter Cuba. And we have a number of products that we believe, based on our research, that other Hispanic Caribbean countries will find attractive," Wehby said at the company's annual general meeting in May.

"We are going to be looking at Latin America to see if there are any opportunities there going forward."

Last July, Grace acquired La Fe for some US$26 million as a method to control its route to market in the US. La Fe sells its own branded frozen products, fruits and vegetables, but also distributes other brands. It operates four distribution centres and one factory in the US, with a strong presence in Florida, North Carolina, Georgia and the New York City/Tri-state area.

GraceKennedy currently distributes tropical rhythms in sorrel ginger, pineapple guava, juneplum, pineapple ginger, reggae medley, fruit punch and mango carrot. The CEO says the new flavour will be priced on par with the other flavours in the Tropical Rhythms range.

GraceKennedy, a listed Jamaican company, is comprised of some 60 subsidiaries and associated companies located across the Caribbean, North and Central America, the United Kingdom and Africa, and spans the areas of food processing and distribution, banking and finance, and insurance and remittance.

Source:
BY KARENA BENNETT
bennettk@jamaicaobserver.com
Business reporter
Jamaica Observer
Friday July 3, 2015    

http://www.jamaicaobserver.com/business/Tropical-Rhythms-introduces-new-Latino-flavour-to-its-line-up_19158909