"Conwood posted another record quarter, with $98 million in operating profits," said William M. Rosson, Conwood's president and chief executive officer.
"That's a 10 percent increase over last year's quarter, with Grizzly continuing to deliver double-digit volume growth.
"The moist-snuff category is growing at an annual rate of more than 7 percent, and Grizzly continues to represent almost half of all category growth," said Rosson
Grizzly's third-quarter share of shipments was 23.4 percent, up 2.1 percentage points from the prior-year period.
Contributing to the growth of Conwood's
flagship brand was the strong performance of Grizzly's two newest styles - Grizzly Snuff and Grizzly Wintergreen Pouches, which were both introduced nationally this year.
"These two products are showing exceptional strength," said Rosson
"They are among the most successful moist-snuff introductions in the past several years.
Grizzly Snuff has already gained almost a full share point, and Grizzly Wintergreen Pouches has more than half a share point."
said that the success of those new styles contributed to a gain of more than half a percentage point in Conwood's
already strong operating margins, which were 54.1 percent in the third quarter.
"We are very pleased with the rapid growth we're seeing on Grizzly's two new styles, as well as the strength of the brand's core styles," said Rosson