Ocean Beauty Seafoods spins off Echo Falls Seafoods into standalone company

Ocean Beauty Seafoods Spins Off Echo Falls Seafoods Into Standalone Company

Ocean Beauty Seafoods, based in Renton, Washington, has announced the creation of Echo Falls Seafoods, a new independent entity spun off from its value-added and smoked salmon division. This strategic move is aimed at strengthening the brand identity and operational focus of its smoked seafood products.

Echo Falls Seafoods will continue to operate under the ownership of its parent company, Ocean Beauty. Alex Klein, who was appointed to lead the value-added and smoked division earlier this year, will now serve as the president of Echo Falls Seafoods. Klein expressed confidence in the transition, noting that the standalone status will allow the brand to better establish itself in the market.

The Echo Falls brand is known for its high-quality smoked Scottish Atlantic salmon and has recently expanded its product range to include Oak Smoked Yellowfin Tuna and various types of caviar. In addition, the new company will manage the Lascco and Nathan’s smoked seafood lines, brands that Ocean Beauty has developed since the mid-1990s.

Founded in 1910, Ocean Beauty will maintain its role as a crucial supplier to Echo Falls, specifically sourcing seafood from Alaska. Ocean Beauty’s distribution network, consisting of seven sites across the United States, will remain an integral part of the organisation’s operational framework. It’s important to note that Ocean Beauty is partially owned by the Bristol Bay Economic Development Council, a non-profit organisation that supports Alaska’s fishing community.

The rationale behind the spin-off, while speculative, has been suggested by industry publication Undercurrent News to potentially position Echo Falls Seafoods for future acquisition activities.

Hershey Implements Workforce Reductions Amid Restructuring Efforts

The Hershey Company has followed through with job cuts that were anticipated earlier this year as part of a broader strategy to enhance operational efficiency and invest in automation. Approximately 200 employees, about 1% of Hershey’s total workforce, have been laid off.

Hershey’s restructuring plan, announced in February, aims to generate $300 million in savings by 2026. This plan is also geared towards improving the company’s supply chain and manufacturing operations. In addition to the layoffs, Hershey is looking to expand its workforce with new positions in technology and data science.

A company spokesperson confirmed to Just Food that these job cuts are part of the transformation strategy introduced earlier in the year to advance the company’s vision and strategy. The spokesperson highlighted that the changes are essential for Hershey to evolve its capabilities and maintain its position as a leading entity in the snacking industry.

The company recently reported a 16.7% drop in net sales to $2.08 billion for the second quarter ending 30 June, compared to the same period last year. Hershey experienced declines in both its North American confectionery and international business segments. However, its North American salty snacks division showed resilience, with an increase of 6.4% in reported sales, driven by a 9% increase in volume-mix.

Michele Buck, President and CEO of Hershey, acknowledged the challenging operating environment, noting consumer trends towards reduced discretionary spending.

AllazoHealth Introduces AI-Driven Solution to Boost Medication Adherence

AllazoHealth has launched an AI-enabled solution designed to enhance patient communication and increase medication adherence. This technology aims to personalise patient interactions by customising communications at both individual and modular levels, allowing pharmaceutical companies to deliver highly targeted messages on a large scale.

Medication non-adherence remains a significant challenge within the pharmaceutical industry, often leading to poor health outcomes and increased rates of hospital admissions. AllazoHealth’s dynamic modular content leverages AI to predict individual medication behaviours. The solution uses comprehensive datasets from millions of patient interactions to refine communication models and improve their effectiveness.

The new offering operates by incorporating a variety of interchangeable modules – such as subject lines, content blocks, email preview texts, images, and calls to action – to craft more personalised outreach. Pharmaceutical companies can utilise this technology to dynamically personalise and streamline content, promoting medication initiation and adherence for improved health outcomes.

William Grambley, CEO of AllazoHealth, emphasised the importance of personalisation in healthcare, noting that consumers want to be treated as individuals. He added that pharmaceutical companies that excel in personalising patient communications are seeing better engagement rates and achieving their goals more effectively.

The technology utilises more than 500 predictors of human behaviour from its extensive data pool, including over 275 million communications made via email, phone, and text messages.

These developments across Ocean Beauty Seafoods, Hershey, and AllazoHealth underline significant shifts and innovations in their respective industries, marking notable efforts to adapt and advance business operations.

Source: Noah Wire Services