{
  "docId": "019dd923-622b-71dc-a6db-8db9eda08bf8",
  "docSlug": "80938ee8f28c",
  "documentTitle": "E.I. du Pont de Nemours and Company (DuPont) (DD)",
  "authorId": "06_Trian_Partners",
  "authorName": "Nelson Peltz",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2015-04-22 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.2631578,
  "pageNumber": 47,
  "pageCount": 88,
  "prevPage": 46,
  "nextPage": 48,
  "slideType": "cite_precedent",
  "function": "illustrate_case",
  "density": "overcrowded",
  "nDataPoints": 14,
  "notes": "Includes a disclaimer regarding the use of this case study as an example of investment process.",
  "elementsJson": [
    "headline_text",
    "bullet_list",
    "bar_chart_vertical",
    "bar_chart_grouped",
    "footnote",
    "logo_grid"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622b-71dc-a6db-8db9eda08bf8/47",
  "deckHref": "/decks/019dd923-622b-71dc-a6db-8db9eda08bf8",
  "deckJsonHref": "/decks/019dd923-622b-71dc-a6db-8db9eda08bf8.json",
  "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-8db9eda08bf8#slide-47",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "“Blank Sheet of Paper” approach to building an overhead structure, similar to the recent turnaround of Axalta in 2013/2014",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd953-14d8-75c0-8c81-01cd1850ef55",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.2,
        "w": 0.35,
        "x": 0.52,
        "y": 0.55
      },
      "kind": "chart",
      "text": "Snapple: Case Sales Trends (Volume)",
      "attrs": null,
      "subkind": "bar-grouped",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "8bdc3c86-57d0-428d-8f8e-cc6f57223f9f",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.2,
        "w": 0.35,
        "x": 0.52,
        "y": 0.25
      },
      "kind": "chart",
      "text": "Enterprise Value ($ in millions)",
      "attrs": null,
      "subkind": "bar-vertical",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "ef716f51-f721-4fa1-98f0-bc87617d8964",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.75,
        "x": 0.13,
        "y": 0.79
      },
      "kind": "disclaimer",
      "text": "Disclaimer: This case study is an example of a discrete investment...",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "482839c1-8def-414a-84d3-aa953d3b0877",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.045,
        "w": 0.085,
        "x": 0.755,
        "y": 0.125
      },
      "kind": "image",
      "text": "Snapple",
      "attrs": null,
      "subkind": "logo",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "efec3c5d-7e67-4453-bd32-557ad6fcf40d",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.4,
        "x": 0.13,
        "y": 0.375
      },
      "kind": "list",
      "text": "“Blank Sheet of Paper” approach to building an overhead structure, similar to the recent turnaround of Axalta in 2013/2014. Built an efficient overhead structure for senior leadership and corporate services including finance, accounting HR, legal, and IT functions. Eliminated bureaucracy and bloated corporate structure.",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "11d8ec13-e1f2-4a4b-a19e-fa93be0a72a6",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.2,
        "w": 0.4,
        "x": 0.13,
        "y": 0.55
      },
      "kind": "list",
      "text": "End Result: Reversed a multi-year string of volume declines and grew top and bottom lines. Returned business back to profitability. 11 straight quarters of case sales growth. Sold Beverage business to Cadbury in 2000 for ~$1.5bn. Became a Harvard Business School case study.",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "3207e146-78c1-48e9-8129-85dfa6fa80e7",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.4,
        "x": 0.13,
        "y": 0.25
      },
      "kind": "list",
      "text": "Triarc, an investment vehicle controlled by Trian’s Principals, acquired Snapple from Quaker Oats in 1997 ($300m purchase). Significant operational turnaround involving product innovation, supply chain investment and marketing.",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "b5261cfc-34ba-49d8-be4f-2fb99d213299",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "Enterprise Value: $1,500",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd953-14d8-75c0-8c81-06dc5cde3cff",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.5,
        "x": 0.13,
        "y": 0.13
      },
      "kind": "title",
      "text": "Nelson Peltz Case Study: Snapple Turnaround (A Harvard Business School Case Study)",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "f3393422-e20e-41ac-9f47-f5c96792dc39",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "before-after-framing",
      "slug": null,
      "matchId": "f0397ce3-a0bf-4da4-8fa4-ce270bad3f49",
      "evidence": "Comparison of 1997 purchase price vs 2000 sale price and operational state.",
      "confidence": 0.9
    }
  ],
  "arcBeats": [
    {
      "to": 50,
      "from": 42,
      "beatId": "0626fdcf-9dc3-406f-a70b-73e1d0bb6bb1",
      "arcName": "Overcoming the Monster",
      "arcSlug": "overcoming-monster",
      "beatName": "Climax",
      "beatSlug": "mountain-climax",
      "evidence": "Trian's vision for DuPont's future",
      "position": 4,
      "confidence": 0.8,
      "parentBeatName": "Turn",
      "parentBeatSlug": "turn"
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}