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Aurora
Foods Launches Two Duncan Hines Products, Extending Brand Into New Brownie
and Muffin Flavors
St. Louis, MO - August 20, 2001 - Aurora
Foods Inc. (NYSE:AOR), a leading producer and marketer of premium
branded food products, today announced that it has launched two new Duncan
Hines' mix products, extending its popular brand with Butterfinger Brownies
and Corn Muffins.
The Duncan Hines' Chocolate Lover's Brownies with Nestle Butterfinger
Pieces is a first in its category as the only brownie mix with branded
candy-bar pieces. Nestle's Butterfinger is one of the most popular candy
bars sold. This unique new product builds on Aurora's relationship
with Nestle, which started with the recently launched Fun Frosters.
The
Homestyle Golden Corn Muffins is Aurora's first product in the
corn muffin market, the largest baking-mix segment in which Duncan Hines
does not compete. The over $100-million corn muffin segment represents
60% of all units sold in muffins and is 25% larger than the ready-to-spread
frosting market and 60% larger than the brownies market. This raises the
potential for Duncan Hines' new corn muffins to add significantly to Aurora's
volumes and revenues.
Both
products are now available in selected markets.
"These
new products are a great example of how we broaden the usage of our well-known
and popular brands with targeted innovation," said James T. Smith, Chairman,
President and Chief Executive Officer of Aurora. "Both products
will help us continue to build our strong Duncan Hines' franchise, which
has grown 19% in unit volume for the first seven months of 2001 versus
year-ago levels. We intend to continue to develop similar innovative products
for all of our brands to keep them relevant with today's consumers."
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