Meet The Billionaire Family Producing America’s Bestselling Cheeses
Forbes Daily Briefing
Forbes
4.6 • 12 Ratings
🗓️ 9 September 2024
⏱️ 5 minutes
🧾️ Download transcript
Summary
With $1.8 billion in sales, Sargento continues to innovate its top-selling cheddar, mozzarella and string cheeses, all while keeping the company private. And third-generation CEO Louie Gentine has a plan to keep shredding the competition.
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Transcript
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| 0:00.0 | Here is your Forbes Daily Briefing for Monday, September 9th. |
| 0:05.0 | Today on Forbes, Meet the Billionaire Family Producing America's Best Selling Chees. |
| 0:11.0 | When it's time to introduce a new kind of cheese to grocery stores, |
| 0:15.0 | many brands spend millions to develop a product |
| 0:18.0 | without putting much additional money into marketing. |
| 0:21.0 | But it's Sargento, as its third-generation family CEO Louis Gentine explains, |
| 0:26.4 | the company spends millions on advertising to make sure a new variety of cheddar or |
| 0:30.9 | mozzarella is well received. |
| 0:33.0 | The 49 year old Sargento Chairman, who succeeded his father in 2013, |
| 0:38.0 | says, quote, I don't call them big bets because I don't think they're bets. |
| 0:43.0 | Our opportunities are well vetted. |
| 0:45.1 | They're great investments, and we've had more successes than we've had failures. |
| 0:50.7 | That strategy has helped Wisconsin-based Sargento maintain its position as a cheese powerhouse |
| 0:56.4 | with $1.8 billion in annual sales. |
| 1:00.0 | As the company enters its 71st year, |
| 1:02.5 | Sargento's slice of the $14 billion U.S. cheese industry |
| 1:06.3 | continues to grow. |
| 1:08.1 | It is now America's top-selling natural cheese brand, |
| 1:11.5 | a position it's secured as opposed to processed cheese products like. natural cheese |
| 1:14.0 | products, |
| 1:15.0 | products like Velveeta, |
| 1:16.0 | in the past decade under Gentin |
... |
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