Notting Foods Inc.—Background
Notting Foods Inc. is listed on the New York Stock Exchange. It was founded in 1939 and is now the world’s largest processor and marketer of chicken, beef and pork. The company produces a wide variety of branded, processed food products and is the recognised leader in almost every retail and food service market it serves. With revenues of
US$30 billion, Notting has 142 800 employees and more than 360 facilities and offices in 32 US states and 22 countries. Notting Foods’ vision is to be ‘the world’s first choice for protein based foods while maximising shareholder value’.
‘Segment, concentrate and dominate’ has long been its approach to business. The company anticipated consumer demand, segmented a market, concentrated on production and marketing so that it subsequently dominated the segment. Market domination, in conjunction with exacting cost control measures, is the company’s approach to achieving superior profits in fluctuating markets.
In 2006, WEALTH magazine ranked Notting Foods Inc. as America’s most admired company in the food production industry. The survey ranked the 10 largest companies by revenues in 66 industries, including large subsidiaries of foreign firms. According to WEALTH, the survey results reflected the opinions of 10 000 executives, directors and securities analysts who rated the companies in their own industries using eight criteria, including innovation, employee talent, use of corporate assets, social responsibility, quality of management, financial soundness, long-term investment value and quality of products/services. Notting Foods was rated the top company in the industry in seven of the eight criteria used in the survey. ‘It’s incredibly gratifying to have the hard work of our people recognised by others in the industry,’ said John Notting, chairman and chief executive officer of Notting