GORDONSVILLE, Va., Jan. 20 /PRNewswire/ -- PBM Products, LLC, a leading infant formula company that supplies store-brand infant formulas to Walmart, Sam's Club, Target, Kroger, CVS, Walgreens, and other retailers, today announced the hiring of a high-profile executive with more than 20 years of management experience with some of the world's leading brands.
Thomas K. Hernquist joined PBM as Executive Vice President of Foods, Liquids, and U.S. Marketing. Most recently, he served as Senior Vice President and Global Chief Growth Officer at The Hershey Company. In that capacity he was responsible for company-wide strategic plans, global brand marketing and innovation, research and development, acquisition strategy, and corporate social responsibility. In addition, Hernquist is currently the Chairperson of the Board for the American Marketing Association, the largest marketing association in the United States. Hernquist boasts a long track record of leadership and success with a host of America's most high-profile brands and companies. His vast experience includes serving as Senior Vice President of Marketing for Nabisco, overseeing brands such as Oreo, Ritz, and Chips Ahoy!, Senior Vice President of Global Marketing for Jim Beam Brands, General Manager for Entenmann's when it was a division of Kraft Foods, and various marketing positions with Frito-Lay, Inc., a division of PepsiCo. Throughout his career Hernquist has launched billions of dollars of new products and has grown many iconic brands such as Doritos, Ruffles, Hershey's, Reese's, Oreo, Jim Beam, and LifeSavers.
"The growth of private label in the United States is staggering," said PBM CEO B. Paul Manning. "When a seasoned national-brand marketer like Tom switches gears to market store-brand nutritional products, you know that a transformation is happening across the country."
"The marketing landscape has certainly changed here in the U.S., with store brands taking away market share from established brands," said Hernquist. "That growth trajectory will only accelerate as virtually all retailers across the US have stated that building private brands is a strategic and financial priority. I look forward to the challenge of communicating to consumers what we've long known is the truth: that all infant formulas are nutritionally equivalent. Given the transparency afforded by the Internet and social media, the time is ripe to really drive consumer awareness that private brands can be of equivalent quality while delivering exceptional savings to the consumer."
All infant formulas are subject to the same exacting standards of the FDA pursuant to the Infant Formula Act. This legislation vested FDA with the authority to ensure that all infant formulas sold in the United States provide the necessary levels of identified nutrients required for the growth of healthy babies. Store-brand formulas are nutritionally equivalent to Enfamil® and Similac® brand-name formulas but cost up to 50% less for a savings of $600 a year per baby.*
PBM is privately owned and based in Gordonsville, VA. PBM companies specialize in manufacturing, distributing, and marketing consumer food, nutritional, and pharmaceutical products. For more information, visit www.pbmproducts.com.
Enfamil® LIPIL® are registered trademarks of Mead Johnson & Co.
Similac® is a registered trademark of Abbott Laboratories.
*Based on 8/09 comparison of average retail pricing of store brand infant formula powders vs. national brands. Actual retail prices and savings will vary by store and location.
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SOURCE PBM Products, LLC