CPG News Report: October 21, 2026
Five stories moved the CPG industry over the past 48 hours. Lindt & Sprüngli removed its CEO. Nestlé and PepsiCo each announced a plant closure. Dan-O's raised $25 million. CLEAN Cause named a new leadership team. Here is what happened, with sources linked for each story.
Lindt & Sprüngli Removes CEO Adalbert Lechner
Lindt & Sprüngli, the Swiss parent of Ghirardelli, said CEO Adalbert Lechner will leave the company. Dieter Weisskopf, vice chairman of the board and the company's CEO until 2022, takes over on an interim basis. The board said new leadership was needed "to return to consistent, strong growth and to capture opportunities in all its markets globally." The company expects to name a permanent successor in the second quarter of 2027.
Lindt has cut its outlook twice this year. Organic sales growth guidance for 2026 now sits at unchanged to up 2 percent, down from an initial target of 6 to 8 percent. The company blamed lower than expected order volumes in Germany, Switzerland and Austria, and it also made leadership changes in its German and Austrian businesses. Weisskopf said, "We will invest significantly in our brands while improving our profitability. My task is to hand over to the next CEO a company with renewed momentum."
Source: Food Dive
Nestlé Will Close Its Solon, Ohio Factory by the End of 2027
Nestlé plans to close its factory in Solon, Ohio by the end of 2027. Foodservice pouch production moves to the company's facility in Gaffney, South Carolina. Production in Solon is expected to conclude by the third quarter of 2027, and Nestlé plans to file a WARN notice around March. The company did not say how many workers are affected.
The broader Solon campus stays open and keeps R&D and corporate operations. Nestlé has nearly 3,000 workers across seven Ohio facilities. The company said in a statement, "As customer needs and volumes evolve, we determined that building on capabilities already in place elsewhere in our network was the most sustainable path forward."
Source: Food Dive
PepsiCo Closes Its Knoxville Bottling Plant
PepsiCo closed its bottling plant in Knoxville, Tennessee effective immediately. A WARN notice put the count at 112 workers across manufacturing, maintenance and warehouse services. Workers will be paid through January 1 and get access to employment and transition resources, and PepsiCo said it is working to place people at nearby facilities. Local sales and delivery teams will continue serving Knoxville area customers.
The closure follows a cost cutting push from CEO Ramon Laguarta, who said this month that "everything that is not related to growth will not be part of the company." PepsiCo's North America volume fell 2 percent last quarter. The company announced the end of manufacturing at a Maryland bottling plant in September.
Dan-O's Raises $25 Million and Clears Its Cap Table
Dan-O's Seasoning secured a $25 million investment from The Newcastle Network, a consumer focused private equity firm. The deal lets the brand buy out previous investors and take the business in a new direction as it enters new eating occasions.
Source: NOSH
CLEAN Cause Names Jeff Arnold CEO
Canned yerba mate brand CLEAN Cause brought in a new leadership team. The company is preparing new marketing initiatives and a packaging redesign under new CEO Jeff Arnold.
Source: BevNET