Five different brands, five different reasons, but each of these household names could reach its expiration date by 12/31/2014.
Michelob Light hit number one on the Wall Street Journal’s list “Nine Beers Americans No Longer Drink.” Annual sales have dropped to about 350,000 barrels from the million barrels sold in 2007. The company might cede the ‘light’ category to another of its own brands, the lower calorie, lower carbohydrate beer Michelob Ultra.
Who knew that Tab was still around? Apparently not enough soda drinkers to stop the Coca-Cola Company from looking to dump the brand this year. It was the grooviest diet soda around when the hot pink can hit the market in 1963, but Tab’s sales took an early hit when its original sweetener cyclamate was banned by the FDA. It didn’t fare any better with saccharine as a replacement, and the stylish can spent a few decades sporting a mandatory label warning about its link to bladder cancer. The brand’s pretty much been down and out since Diet Coke was introduced in the 1980’s, but can still be found in some parts of the United States (and in Africa, Spain, and Norway) for at least a few more months.
Chiquita Brands International made $1.7 million in payments to a nasty right-wing paramilitary group in Colombia where it’s long had banana plantations. The company has already admitted this, pleading guilty to U.S. criminal charges that it had supported the terrorist efforts of a group responsible for torturing and murdering Colombian citizens. While the company survived the media coverage and $25 million fine, it could be toppled by potentially billions in payouts to the thousands of victims’ families that have filed lawsuits against Chiquita.
Nestle SA, the world’s biggest food company, has drawn up a short list of underperforming businesses it’s looking to sell or shutter, and a lot of industry insiders are betting that Lean Cuisine is at the top. Frozen foods have fallen out of favor in recent years with customers are looking for fresher, less processed options. Frozen entrées have taken an especially big hit. Lean Cuisine might not be worth salvaging.
Sriracha? What could stop the hot sauce juggernaut? Sales and profits have skyrocketed for more than a decade at Huy Fong Foods, the condiment’s maker. A passionate customer base slurps up 20 million bottles a year, and the company works overtime during the three-months of California’s chili harvest. Some say the air is perfumed with the aroma of 100 million pounds of roasting peppers; others call them ‘fumes’ and area residents say they’re driven indoors with headaches and red, stinging eyes. An injunction has halted operations for the foreseeable future.