Word: frozen-food
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...swim about. Birdseye decided that he had "unlocked one of nature's secrets"-and also hit upon a new way to preserve food. When he returned to civilization (i.e., his home in Gloucester, Mass.), he developed a mechanical quick-freezing process and thereby laid the foundation of the frozen-food industry. (In 1929 Birdseye and his associates sold out for $22 million to the Postum Co., Inc., which changed its name to General Foods Corp...
...quit his job as frozen-foods sales manager of General Foods' Birds Eye Snider Division. With two other General Foods executives, Nathaniel B. Barclay and Martin Matthews, who quit at the same time, he Bounded Snow Crop. With only $35,000 in capital, the three lined up 13 packers of frozen foods and vegetables, were the first to sell frozen orange concentrate on a national scale. Their orange juice supplier: Vacuum Foods Corp., which later produced juice under its own Minute Maid label. Snow Crop's fast move into he frozen-food market paid...
...when the frozen-food market collapsed that year, in a glut of low-grade products, the three partners did not have enough capital to weather the disastrous drop in prices. For $250,000 they sold Snow Crop's name and good will to Clinton Foods Inc., third largest U.S. producer of corn products, took jobs as heads of the corporation's new frozen-foods division. Moone promptly sank $15 million of Clinton's money into groves and four packing plants, contracted to take the entire output of 39 more plants. Pushed along by a big advertising campaign...
...restaurant in London's Olympia exhibition hall last week, British government officials sat down to a meal of "Frood," a new British product hailed as a likely dollar-getter in the export trade. But Frood turned out to be nothing more than precooked frozen food. With the U.S. frozen-food market already oversold, it looked as if Britons could not have picked a worse time to try to invade it. The only thing to give U.S. businessmen pause was that Frood's maker, J. Lyons & Co., Ltd., was not likely to back a bad bet. By consistently backing...
Gluckstein boasted that "we have a know-how on this frozen-food business that the Americans haven't got." At least he had variety, 189 items from tomato soup to chicken supreme and mousse. And with new tea and coffee plants opening up in South Africa and Canada, Lyons could well be confident-on the strength of food, if not Frood-of becoming greater than ever...