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Daymon Worldwide Sells Majority Stake to Bain Capital

\"\"2017 starts out with a bang in the private brand industry as today Bain Capital Private Equity announced the acquisition of a majority stake in Daymon Worldwide. Established in 1970, employee-owned Daymon has evolved over its 46-year history to expand its retail services and global presence. Bain will aid Daymon’s global growth plans, enabling it to access increasing demand in Asia’s high-growth markets

“This transaction is a very positive development for our company, our employees and our clients,” said Jim Holbrook, CEO of Daymon. “Bain Capital Private Equity is one of the world’s leading private investment firms and has a proven track record for partnering with management teams to provide the resources and capital needed to grow great companies. The firm’s extensive experience in global consumer and retail industries, will be key as we work to accelerate the growth of our company, increase our service offerings and expand our services.”

Bain Capital Private Equity’s proven operational expertise and globally integrated platform will support the acceleration of Daymon’s global ambitions, enabling it to access increasing demand in Asia’s high-growth markets. The firm also brings significant resources which present the company with opportunities to explore strategic acquisitions and accelerated organic growth. Since 1984, Bain Capital Private Equity has made approximately 300 investments that have generated industry-leading returns and has extensive experience in consumer and retail industries, having invested in companies like Canada Goose, Michael’s, TOMS, among many others.

“Daymon’s leading global market position and impressive track record of consistent revenue growth presented a very compelling opportunity for partnership. The company’s numerous achievements and accolades are a direct result of its talented leadership team, dedicated employees and their ability to set ambitious goals and execute accordingly,” said Jonathan Zhu, a Managing Director of Bain Capital. “We are thrilled to join forces with Daymon and look forward to working with them on the many growth opportunities this transaction will bring in the U.S. and Asia’s emerging economies.”

The company’s leadership team remains in place and will continue to oversee the day-to-day operations of the business.

BofA Merrill Lynch served as financial advisor to Bain Capital Private Equity for this transaction.


Private Brand Drives Higher Shopper Satisfaction and Loyalty

\"shopper\"A new study shows that a robust private brand program can drive consumers to make a special store trip and results in higher retailer loyalty and satisfaction.

According to the study from Daymon Worldwide, 36% of consumers are likely to make a special trip to buy their primary retailer’s private brands. As a result, these consumers indicate that they are more satisfied and loyal to the store, are more likely to make future shopping trips, would recommend the store to their friends/family, feel positive about the value they get for their money, and prefer the store overall.

“Our study reinforces a growing industry reality that private brands are gaining power as a must-have for success,” said Virginia Morris, Daymon Worldwide’s Vice President, Global Consumer and Innovation Strategy. “Considering the growing acceptance of private brands across the globe, and increasing consumer apathy toward national brands, the time is now for retailers with existing private brands to leverage them to differentiate, drive affinity, keep shoppers coming back for more and attract new shoppers. Retailers without a private brand program need to invest in one now. For retailers that get it right, it means more than just surviving – it means thriving.”

Survey Background
In Q4 2015, Daymon Worldwide conducted a customized online study among 1,000 respondents, ages 18 and older, to determine the drivers for the increased penetration of private brands. The respondents, 43% male and 57% female, were nationally representative across US regions.


Daymon Welcomes Two New Executives

\"DaymonStamford, Connecticut based, Daymon Worldwide, announced today the appointments of Ross Kavanagh in the newly created position of Chief Sourcing and Trading Officer, and Dave Berry as the new Chief Information Officer. Both leaders will be members of Daymon’s executive leadership team.

“The global retail landscape is evolving at a rapid rate and so are the needs of our retailer and supplier partners,” said President & CEO Carla Cooper. “We’re thrilled that Ross Kavanagh and David Berry have joined our executive leadership team as we navigate new business growth opportunities around the world.”

Ross Kavanagh, Chief Sourcing and Trading Officer:
In his role as Chief Sourcing and Trading Officer, Ross Kavanagh is charged with leading Daymon’s global trading businesses. Ross will also oversee global sourcing and quality assurance, driving progress on these critical parts of Daymon’s value proposition.
Ross’ four decades of extensive global industry experience suit him especially well for this role. He most recently spent six years at Office Depot Europe in a series of roles of increasing responsibility, with the last three years as Vice President of Procurement, Supply Chain and Merchandising. His prior UK-based business leadership roles were at Chapman Envelopes (Managing Director), Paragon (Sales and Marketing Director), and Print Search (Sales and Marketing Director). He also spent seven years in the UK leading his own consulting practice, providing strategic insight and support to clients that included GE Capital, Prudential, British Telecom, and Canon.
Ross began his business career in South Africa, working for NCR, Nashua and Xerox before starting his first business consulting practice there.
Ross is a native of Zambia, and later moved to and served in the armed forces of Zimbabwe. He resides in Lancashire, UK with his wife and two daughters. His two older sons live and work in South Africa.

David Berry, Chief Information Officer:
In his role as Chief Information Officer (CIO), David will use his background in both retail and information technology to elevate and expand Daymon’s technology capabilities.

After serving honorably in the United States Navy, David’s early corporate career was in IT roles at Pepsi-Cola and The Dannon Company, followed by eight years at Diageo plc. During his time at Diageo, David served as Vice President of Worldwide Information services at The Häagen-Dazs Co.; Vice President of European information Services and Business Processes for GrandMet Foods Europe; and finally as Senior Vice President and CIO of Burger King Corp. David then left Diageo to lead the IT function for twelve years as Senior Vice President and Global CIO for Coty Inc., the world’s largest fragrance company with $5 billion in annual revenue.
For the past few years, David has worked as interim CIO for companies in several industries, including Polycom (high tech), smartShift (software), Toms Shoes (apparel) and Ascena retail group (retail/apparel). He is also on the board of advisors for several software companies, including Chateaux Software and Kaleo Software.
After living in Europe for 15 years, David now resides in Scarsdale, NY, with his wife and three children.


SpartanNash Extends Relationship With Daymon

\"Spartan-Nash\"Grand Rapids, Michigan based SpartanNash announced late last week that is will collaborate with Daymon Worldwide on it’s Private Brand programs. SpartanNash\’s Private Brand products are sold through 172 retail stores and more than 1,900 independent retailers under such brand names as Our Family, Spartan, Spartan Fresh Selections, Nash Brothers Trading Company, TopCare and other brands in 44 states.

“We are honored by the trust and partnership of our friends at SpartanNash, and energized by their vote of confidence in our team,” said Rhonda Levene, Daymon Worldwide CFO and Chief Customer Officer, North America Private Brand. “Our mission is to deliver unique solutions so that retailers can achieve differentiation, drive profitable sales growth, and win customer loyalty. We extend our thanks to the entire SpartanNash organization for this opportunity.”




Hartman Group & Daymon Worldwide Form Alliance

\"GroceryDaymon Worldwide and The Hartman Group, Inc. announced this past week that they are forming a strategic alliance that will deliver insights to C-Suite executives in the food manufacturing and retailing sectors.

The firms have already collaborated on the study called “Reframing Retail Through the Lens of Changing Food Culture,” which documented America’s shift from a cooking culture to an eating culture. This analysis debuted at the FMI Midwinter Conference in 2013.  Researchers are in the field now for a follow-up study, focusing on the dinner eating occasion, and their final report is expected in the first quarter of 2014.