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Son is still a relatively young company but we're starting to hit our stride and that's gonna create the kind of value that we all know some products is capable of creating I'm Jeff Ansel CEO of Sun Products some products is. The number two manufacturer of laundry detergents in the United States we created the company four years ago working with Neil to fail by combining Hewish detergent that was the leading u.s. manufacturer of private label detergents with Unilever North American fabric care business the maker of such iconic national brands such as all wisk. And snuggle we saw a great opportunity to bring national brands and private brands together to create the most profitable manufacturer for the retailer to do business with when Neil retired in 2011 we were very. Fortunate to recruit Jeff and sell to take over the company Jeff is an exceptional leader with extensive consumer packaged goods experience and a remarkable record of success in growing brands I spent 25 years at Procter & Gamble in the last seven years I was president of the AIIMS company and it was great potential to grow that brand and. Take the the strengths and the capabilities of iams together with the power of P&G and make one plus one equal three and in seven years we. Took the AIIMS ran from the number five pet food brand to number one there's that same type of unrealized potential at Sun I think one of the the most important things that Jeff did was to simultaneously start to assemble a new team and also stabilize the operations of the company that was so critical. To giving Sun the foundation for now these initiatives that were engaged in currently that will make the company a more effective competitor and a better company we developed a very clear company strategy together with the management team last year and it has several core planks to it. That I think are worth highlighting the first is around strengthen and organizational effectiveness and this starts with getting the right people on the bus bringing together the right team and we brought five very high-quality individual to our senior leadership team from sales and. Marketing to CFO to R&D and it takes the quality of the team I think to an entirely new place the second is around revitalizing our iconic brands at the end of the day it's dolena our brands that's gonna make this company successful there. Are many things that we've done starting with sharpening the brand positioning informed. By a very deep understanding a consumer segmentation we. Have major league reformulated the all brand over the past nine months. It's a significant. Winner in consumer testing and we start shipping it into the marketplace behind a new and revitalized all packaged within the next month the Snuggle brand the. Snuggle bear' a metaphor for softness weave restaged that business and after eight months the snuggle brand is the fastest-growing brand in the laundry conditioning segment of six tenths of a sharepoint versus year ago and finally the whisper and we have found a way to reposition the brand behind a. Very unique and distinctive deep clean positioning that we know from consumer testing resonates very very well with today's active consumer in its early days but i will say that the latest 12-week market share is the highest that we've seen since late 2011 we have mostly single-digit shares in our national brands and we think at. Least a couple of those brands can achieve double-digit kind of market shares in the laundry category the third strategy is around transforming the retailer brand business from historically being. A co-packer to being an exciting brand building partner together with our retailers a great example that is the Costco Kirkland Signature product we're the exclusive provider of laundry detergent and conditioning products to Costco. The number two retailer in the country the number seven retailer in the world we are marketing that product together with them going right to the consumer with the kind of. Marketing and advertising persuasive demos selling lines all the things that you would do classically at a national brand never before have we done that on Kirkland Costco product and we are now that has created such an incredible amount of enthusiasm within the walls of Costco I was out there a few weeks ago and discussing this with. The CEO of the company who basically had said we never thought that we could do this with in laundry detergent we thought the national brands would market and we would just tag along this is really exciting and I believe it's not a coincidence that they granted us the national. Business for the Costco Kirkland Signature singled those laundry which begin shipping this. Month now we have similar conversations. Underway with Walmart with target with Safeway with all the other top retailers because we intend to bring this business model evolution from being a co-packer to a brand building marketing partner to all the top retailers we think the private brand business can be double the size. That it is now in terms of penetration strategy number four is all about innovation a good example of that is the company going from a. Relative standing start in the spring of 2011 in the single-dose laundry market to. Meeting the market leader on the shelf it was start of shipments in February of. 2012 and now being the clear number two in the single-dose laundry segment ahead of Armand Hammer and ahead of Purex and the clear number. Two and consistently growing and number five is around cost and working capital reduction we're on track to realize this calendar year ninety eight million dollars in cost savings we've taken a hundred million dollars out of inventory in the past twelve months we now have a less complex business to run less complexity means lower costs lower costs means. Higher gross margins and higher gross margins means more ability to invest back in the business and that's what this business needs even now over the past three months is up over 50% versus a year ago the. Gross margin of the company has gone from mid-teens one year ago to now after four quarters in. The mid 20s and that's the highest gross margin since late 2010 in little more than a year under Jeff's guidance son merged a better leaner company with a stronger asset base and the result is that vest our capital is going to own a great company that is a very successful competitor and. A very valuable competitor in this space I'm very optimistic about the future of son products were seeing milestones achieved - each and every quarter and it's one that I think we're gonna look back on after the next several years and we'll see the amount of value that has been created the progress that has been made in the company the. Strategies and the team that. Have. Helped deliver it the combination of some products team together with the Deathstar Capital Partners is truly an unbeatable combination and it's why I put so much of my heart. And energy.

 


Sun Capital Partners Company News

Wed, 01 May 2019 22:24:00 GMT
Shopko, Sun Capital propose $15 million payment to settle claim of improper dividend payments - Green Bay Press Gazette
Shopko, Sun Capital propose $15 million payment to settle claim of improper dividend payments Green Bay Press Gazette Shopko and Sun Capital have proposed a $15 million payment to settle claims Sun Capital took $67 million in dividends and fees when retailer was insolvent.
Thu, 11 Apr 2019 07:00:00 GMT
AE Industrial Partners brings in Sun Capital exec Sprechman as new head of IR - AltAssets Private Equity News
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Dean Foods, owner of Friendly's ice cream plant in Wilbraham and Garelick Farms in Lynn, considers selling off businesses - MassLive.com
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Fri, 12 Apr 2019 18:57:15 GMT
Slowing foot traffic metrics were canary in coal mine for Friendly's closings - Thinknum Media
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Fri, 10 May 2019 07:02:51 GMT
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Fri, 10 May 2019 06:47:00 GMT
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Tue, 16 Apr 2019 07:00:00 GMT
M&A wrap: Riverside, TA Associates, Genstar, OEP, Clearlake, Ridgemont - Mergers & Acquisitions
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Fri, 10 May 2019 06:15:22 GMT
College receives $7 million gift for global health equity program - The Dartmouth
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Thu, 17 Jan 2019 08:00:00 GMT
Another Retail Chain Bought & Stripped Bare by Sun Capital Goes Bankrupt - WOLF STREET
Another Retail Chain Bought & Stripped Bare by Sun Capital Goes Bankrupt WOLF STREET “This decision is a difficult, but necessary one,” ShopKo said in its announcement of the Chapter 11 bankruptcy filing. It blamed “excess debt and ongoing ...