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00:02Kraft Heinz is ramping up investment in Philadelphia cream cheese as it works to revive its legacy
00:07brands and boost sales, according to CNBC.
00:10Philadelphia will release three new flavors Tuesday — Mike's Hot Honey Whipped Cream
00:14Cheese, Salted Caramel, and a limited-time cranberry-orange variety.
00:18The brand plans to introduce 10 new varieties over the next two years, compared with about
00:22one or two new flavors annually in the past.
00:25Kraft Heinz expects spending on Philadelphia to rise 63% this year from 2025, while investment
00:31in new flavors has quadrupled.
00:33Philadelphia accounts for about 62% of U.S. cream cheese sales.
00:37Philadelphia is promoting cream cheese beyond bagels by encouraging its use in cooking,
00:41baking, dips, and pasta sauces through recipes and social media.
00:45Kraft Heinz recently raised its planned investment in the broader business to $700 million as
00:50it works to improve performance across its portfolio.
00:53For all things money, visit Benzinga.com.
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