Tuesday, June 18, 2024

B2B News for Tuesday, May 3, 2022: Mental Health Awareness, Acquisition, Appointments and Warren Buffett Speaks

Last updated on May 3rd, 2022 at 06:03 pm

May is Mental Health Awareness Month and more businesses are looking at ways to promote mental health. L.L. Bean is one company that is closing down its social feeds for the month to promote mental health. The move is a campaign by the retailer to prioritize time in the outdoors throughout the month.

L.L. Bean also announced a $500,000 grant to nonprofit Mental Health America in a two-year partnership. The partnership strives to reach people through community-based outdoor mental health-focused programs, research, and multimedia campaigns aimed at creating connection and inclusion in the outdoors and uncovering the well-being benefits of time spent outside. L L Bean is not the first retailer to go dark on social media as more retailers try and share what they value with their customers. Lush took all of its social media offline in late 2021.

In other news, Darling Ingredients Inc., the world’s leading company turning food waste into sustainable products and producer of renewable energy, today announced it has completed the acquisition of Valley Proteins, one of the largest independent rendering companies in the United States.

The company first announced the acquisition in December 2021 for a purchase price of $1.1 billion, plus or minus various closing adjustments. As part of the transaction, Darling Ingredients has acquired 18 major rendering plants and used cooking oil facilities throughout the southern, southeast, and mid-Atlantic regions of the U.S. Valley Proteins has built a successful rendering and used cooking oil business that immediately strengthens their business and expands their ability to provide additional low carbon intensity feedstocks to fuel the growing demand for renewable diesel.

There have also been several appointments across several industries:

  • OneShield Software (OneShield.com) is pleased to announce the appointment of David Deal as Chief Legal Officer (CLO). Deal comes to OneShield following his role as CLO and COO for Trōv – a global insurtech startup recently purchased by Travelers Insurance. 
  • Sonata Software is delighted to announce that Mr. Roshan Shetty is joining the company as Chief Revenue Officer, responsible for sales of its services business, globally. Roshan will be based out of the UK. In executing its aggressive growth strategy, Sonata has been investing in senior talent, especially those located in its major markets to serve its clients better. Roshan’s induction is another step in the same direction. 
  • McCormick & Company, Incorporated (NYSE: MKC), a global leader in flavor, announced the appointment of Brendan Foley to the role of Chief Operating Officer and President, effective June 1, 2022.  Brendan will continue to report to Lawrence Kurzius, Chairman and Chief Executive Officer. In this newly created role, Mr. Foley will have responsibility for all of McCormick’s business units and its supply chain worldwide. 
  • Thrasio Holdings, Inc. (“Thrasio”), the next-generation global consumer goods company, today announced that Greg Greeley has joined its Board of Directors and will become the company’s next Chief Executive Officer in August 2022. Greg will succeed current CEO and Co-Founder Carlos Cashman, who will remain on the Thrasio Board as a Director.

In Market news, Warren Buffett spoke this past weekend at the Berkshire Hathaway Shareholders Meeting. Buffett stated that Berkshire Hathaway’s success was all about its strategy of making rational decisions and investing with the long term in mind. “It’s not because we’re smart. It’s because we’re sane,” Buffett said during the meeting of Berkshire (BRKA) investors.


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