LOS ANGELES, CA - While Beyond Meat® has been teasing a public offering since last year, the meat alternative company officially (alternatively: finally!) took the plunge this week. Bright and early Monday morning, Beyond Meat announced it had officially launched its initial public offering of 8,750,000 shares of common stock, which it has applied to list on the Nasdaq Global Market under the symbol “BYND.”
According to a press release, the initial public offering price is expected to be between $19.00 and $21.00 per share. Beyond Meat’s existing stockholders will not sell any shares in the offering.
Goldman Sachs & Co., J.P. Morgan, and Credit Suisse all served as lead book-running managers for the offering. BofA Merrill Lynch and Jefferies also acted as book-running managers. William Blair is co-manager for the offering.
This marks Beyond Meat’s first foray into the public arena, after first announcing plans last October and filing for a registration statement with the Securities and Exchange Commission shortly thereafter.
What does this mean for the plant-based protein market? Will a public offering make Beyond Meat a more enticing partner for McDonald’s? AndNowUKnow will continue to keep our eye on all vegan-related news as it relates to fresh produce.
SALINAS, CA - Earth Day is here and Taylor Farms, renowned North American producer of ready-to-eat healthy fresh foods, is ready to celebrate with its outstanding success in greenhouse gas (GHG) emissions savings—a direct result of its use of innovative renewable and alternative energy sources. Taylor Farms has reduced its CO2 emissions by 12,190 metric tons over the course of this year through a combination of solar, wind, fuel cells, and cogeneration. The reduction is a 94 percent increase from 2017, which is equivalent to the GHG emissions from 2,588 vehicles driven for one year.
“It’s very exciting to see this amount of positive environmental impact growth within one year,” said Nicole Flewell, Director of Sustainability at Taylor Farms. “There’s so much enthusiasm internally with our team members and externally with our partners, customers, and consumers around our environmental sustainability initiatives. We’re continuing to evolve our sustainability program with a focus on resource conservation across our facilities nationwide.”
As part of its pledge to environmental sustainability, Taylor Farms is committed to reducing its carbon footprint through renewable and alternative energy and resource conservation. To ensure sustainability practices throughout the company, Taylor Farms has employed advanced water efficient wash tanks, waste reduction and recycling, food waste diversion programs, and educational curriculums. According to the press release, the company is also the first in the fresh food industry to achieve TRUE (Total Resource Use and Efficiency) Platinum Zero Waste Certification, diverting over 94 percent of materials from landfills, incinerators, and the environment.
Taylor Farms utilizes four different types of renewable and alternative energy systems to power its operations with clean energy:
- Solar: Five solar arrays at Taylor Farms’ facilities in Gonzales, CA; Salinas, CA; Tracy, CA; Smyrna, TN; and Dallas, TX, total over 18 acres of solar panels generating 7.3 million kWh/year—the equivalent of taking 1,096 cars off the road each year
- Wind Turbine: Generates 3.8 million kWh/year of clean energy, offsetting 15 percent of annual power needs at the Gonzales, CA-based facility—equivalent to 328 homes’ energy use per year
- Cogeneration: The Concentric Power Cogeneration plant is a natural gas-powered engine that provides firm energy to offset 64 percent of annual energy usage at the Gonzales, CA-based facility. When combined with power from solar and wind, the facility’s annual energy usage is offset by over 90 percent. The GHG emissions saved from the Cogeneration plant is equivalent to taking 734 cars off the road or 414 homes’ annual energy use
- Fuel Cells: The Bloom Energy Fuel Cells at the Salinas, CA plant generates firm power with each kilowatt hour 21 percent cleaner than the traditional utility grid. The GHG emissions saved is equivalent to taking 163 cars off the road each year
“The trailblazing team at Taylor Farms continues to impress with their sustainable energy goals and creative approach to transitioning completely off-the-grid, while shrinking their environmental footprint,” said CEO and Founder of Concentric Power, Brian Curtis. “It’s been an honor to be part of their renewable energy solutions, providing cogeneration as a consistent and flexible capacity for firm power generation.”
Stick with us here at AndNowUKnow for the latest in fresh produce news.
CHINA - Walmart is once again flexing its retail prowess in international markets. This week, news source The Drum revealed that the grocery giant plans to open 40 Sam’s Club stores either in operation or under construction in China by 2020.
Doug McMillon, President and CEO of Walmart, told news source China Daily last week that “China is still one of the most important markets” for Walmart. He also revealed that technology will continue to be one of the retailer’s main focuses as it expands its footprint in the massive market.
As part of Walmart’s latest expansion plan, the U.S.-based grocer will open 16 out of the 40 stores by the end of 2019. With a new location having just opened in Beijing, there are currently 24 Sam’s Club locations in China.
The news source also reported that Sam’s Club is gaining traction in China, which could be a positive reflection of Walmart's integration of AI in its online and brick-and-mortar store locations.
Last year, Walmart opened 33 new stores in China, including four Sam’s Club, 21 hypermarkets, and eight small-format stores. The retailer also launched a new next-gen grocery format, began testing Walmart To Go on the DL, strengthened its partnership with JD.com, and invested $500 million into a rising online grocer—all in China.
Will this latest move mobilize Walmart’s competitors to dig deeper into international markets as well? And how will Walmart’s China expansion affect its Stateside business? AndNowUKnow will continue to report.
SALINAS, CA - Sustainability is not just good for the environment, but also for the bottom line. Enter the Monterey County Sustainability Working Group (MCSWG) and its recently announced Reimagining Organic Waste event. Taking place on April 25 from 10 a.m. to 1 p.m., this event is a must-go for organizations looking to improve their management of organic waste (culls), the byproduct generated from chopping, slicing, and dicing fresh vegetables, in the face of increasing disposal costs and regulations.
The event is targeted at Monterey County’s agricultural sector, which contributes $4.4 billion to the local economy, according to its info sheet. The industry has handled organic waste privately in the past, making its volume and characteristics unknown and limiting opportunities for better management and infrastructure. This event encourages the more recent trend of working together to find cost-effective opportunities and alternatives.
“This is a golden opportunity to move the industry in a more proactive direction by keeping the conversation ahead of the issues,” Nikki Rodoni, Founder and CEO of Measure to Improve, tells me. “With new upcoming regulations and rising disposal costs, it is more critical than ever for stakeholders to begin the discussion and work collaboratively on this issue. The MCSWG has initiated the event because it is an organization dedicated to sharing sustainability efforts among agricultural producers and processors. Individuals and companies that have a vested interest, which may include representatives from the agriculture industry, packers and processors, private haulers, composters, and potential solution providers are strongly encouraged to attend the event.”
Reimagining Organic Waste aims to offer insight about upcoming regulations, existing solutions, expanding infrastructure, and possible innovations that would serve as solutions for the long term. Attendees can expect to address current and upcoming regulations that might affect current disposal methods, hear from other vendors about the major challenges they face, collaborate with other stakeholders to find solutions, prepare yourself and your business for the future, and learn more about future opportunities for disposal.
“Being conscious of all the impacts that farming has throughout the production process, dealing with agricultural culls and by-products is imperative to our overall sustainability as an economic sector,” comments Norm Groot, Executive Director of the Farm Bureau of Monterey. “Working together, we hope to find solutions that make sense for growers, processors, and shippers. I expect that there are many great ideas that can be shared, and working together these solutions can add value and sustainability to the supply chain of fresh vegetables and berries produced here in the Salinas Valley.”
The event will feature industry experts, including Hank Brady Manager, Cal Recycle; Melissa Kendrick Executive Director, Food Bank Monterey County; Patrick Mathews General Manager/CAO, Salinas Valley Recycles; Tim Flanagan General Manager, Monterey Regional Waste Management District; Keith Day Owner, Gabilan Ag Services; Dr. Sara Pace, UC Davis, Department of Food Science and Technology; Brian Curtis CEO, Concentric Power; and Dan Morash, California Safe Soil.
Registration can be found here—password "Culls"—and it is strongly recommended that you RSVP as soon as you can, because the event meeting is limited to 100 people. The event will take place at the Salinas City Center, One Main Street, Salinas, CA.
About MCSWG: The Monterey County Sustainability Working Group (MCSWG.org) was formed to network and share current successful sustainability efforts among agricultural producers and processors in the Central Coast region. By working together, the MCSWG hopes to lead the industry in taking a proactive approach to meeting the present and future sustainability challenges.
The April 25 MCSWG meeting, “Reimagining Organic Waste," is sponsored by: Azevedo Cattle Company, Dole, Mann Packing, Gabilan Ag Services, Measure to Improve, Ippolito International, True Leaf Farms, CSS, Concentric Power, MRWMD, Salina Valley Recycles, and Waste Management.
For more important industry event updates, keep reading AndNowUKnow.
Monterey County Sustainability Working Group Measure to Improve
QUINCY, MA - Negotiations between five United Food and Commercial Workers International Union (UFCW) locals and Stop & Shop have hopefully come to a close. After a 10-day-long work stoppage, the Ahold Delhaize subsidiary and union officials representing 31,000 store associates announced an end to the strike and a new tentative labor agreement.
“We are very pleased to announce Stop & Shop has reached fair new tentative agreements with UFCW Locals 328, 371, 919, 1445, and 1459, which represent our 31,000 associates in Massachusetts, Connecticut and Rhode Island,” the retailer announced Easter Sunday. “We’re also glad to have our associates return to work as the strike has ended.”
The new tentative deal involves a three-year agreement subject to ratification by members of all five local unions.
Stop & Shop noted that the deal included provisions providing increased pay for all associates, continued health coverage for eligible associates, and ongoing defined benefit pension benefits for all eligible associates.
“Our associates’ top priority will be restocking our stores, so we can return to taking care of our customers and communities and providing them with the service they deserve,” Stop & Shop’s statement continued. “We deeply appreciate the patience and understanding of our customers during this time, and we look forward to welcoming them back to Stop & Shop.”
The UFCW issued a statement praising the deal and its members, as well.
“We are incredibly grateful to our customers and everyone who proudly stood together with us every day for a contract that invests in the communities we serve, and makes Stop & Shop a better place to work and a better place to shop.” the UFCW stated. “Under this proposed contract, our members will be able to focus on continuing to help customers in our communities enjoy the best shopping experience possible and to keep Stop & Shop the number one grocery store in New England. The agreement preserves health care and retirement benefits, provides wage increases, and maintains time-and-a-half pay on Sunday for current members.”
For more breaking news in fresh food, keep reading AndNowUKnow.
LOS ANGELES, CA - I like my apples exactly how I like my lemonade: sweet, juicy, and in a yellow hue so vibrant I still see it every time I blink. Coincidentally, Giumarra’s newest addition to its crop lineup is its Lemonade™ apple, a unique take on two summer staples that meet all of my apple and lemonade criteria in flying colors—well, one sunshiney color to be exact. With the newly debuted variety stepping out for the first time at Viva Fresh on April 25-27, I caught up with Megan Schulz, Director of Communications, to gather as many details as possible.
“We are planning on sampling our Lemonade apples from New Zealand at our Viva Fresh booth,” Megan revealed to me. “Lemonade is a crisp yellow apple that provides a great color break on the retail shelf. Consumers really enjoy Lemonade’s bright, tangy-sweet flavor, and we’re excited that our customers and other industry partners attending Viva Fresh can experience the apple and its eating attributes in person.”
As the exclusive supplier of the Lemonade apple in North America, Giumarra is bringing a small pre-season shipment to the show next week—and if all of you lucky Viva attendees aren’t juiced about that, just wait until you take your first bite. In the meantime, the rest of us will have to wait until its availability in the North American market beginning in May.
As for the show itself, Giumarra is looking forward to participating in all that Viva Fresh has to offer.
“We enjoy connecting with our customers and industry friends in an intimate, lively setting at Viva Fresh. The show takes place at an ideal time of the year to discuss our upcoming offerings for the summer season,” Megan shared with me. “And, our team is looking forward to being part of the action at booth #62.”
With a new apple variety that consumers and retailers will fall in love with easy peasy lemon squeezy and a sneak peek at what’s to come next season from the Giumarra team, I’m thinking you might have to elbow your way through a crowd at booth #62.
For more pre-, mid-, and post-Viva Fresh coverage, keep checking back withAndNowUKnow.
WESTBOROUGH, MA & CLEARWATER, FL - BJ’s Wholesale Club is continuing its expansion in the Southeast—and introducing a new club store location in the heart of Publix territory. It’s newest location, in Clearwater, Florida, hosted a grand opening celebration on Saturday, April 13, 2019. The store will be BJ’s 217th location.
“We’re thrilled to help Clearwater families shop faster and save easier on everything from fresh food and groceries to the latest in apparel and tech with the opening of our new BJ’s club,” said Ron Briggs, General Manager of BJ’s Clearwater location, in a press release. “We’re grateful for the warm welcome we’ve received from the Pinellas County community and are excited to open our doors on Saturday.”
BJ’s Clearwater store is located at 26996 US Highway 19N, and promises “incredible value to the community, along with a number of benefits for its members.”
Highlights of the store include a focus on fresh food offerings.
“BJ’s offers excellent fresh food,” the company noted in its press release. “BJ’s offers much more fresh food variety than other clubs. BJ’s is the only major wholesale club to offer a full-service deli with premium meats and cheese. Members can have fresh meats cut to their specifications. BJ’s butchers will recut and repackage at no additional charge.”
Additionally, the store will offer a number of convenient features, including: same-day grocery delivery, buy online and pick up in-club, digital Add-to-Card coupons, mobile deli pre-order, and an expanded assortment on BJs.com.
For more retail news as it pertains to fresh produce, keep reading AndNowUKnow.
IMMOKALEE, FL - Four generations and going strong, Lipman Family Farms’ newest team member comes from a long line of company leadership. Elyse Lipman is joining the company as its new Director of Strategy, and along with her family history of farming, she brings with her experience as a journalist and photo editor at National Geographic, has held various roles at The New York Times and Time Out, and most recently served as Senior Manager at the World Economic Forum.
“We are thrilled to have Elyse join our leadership team,” CEO Kent Shoemaker said. “We expect her unique experience, intelligence, and leadership to have a meaningful impact on the future of our company.”
For the World Economic Forum, Elyse worked to shape agendas and strategies around the Fourth Industrial Revolution, a concept that heralds the effects of digitization and emerging technologies on global economies. Elyse has brokered partnerships with leading companies, governments, and civic stakeholders from across the globe to empower widespread innovation. In her new role as Director of Strategy, Elyse will craft strategy to help Lipman Family Farms maintain its core values and objectives during its rapid growth, while bringing emerging technologies into future planning.
“With technology today, global industries are changing at an unprecedented rate,” commented Elyse in a press release. “That’s been a huge lesson from my time at the World Economic Forum. Companies today really need to be agile. We need to apply technology and innovation as tools to simplify matters rather than add to complexities.”
Coming into the new role with impressive credentials, Elyse holds an MBA from the Wharton School of the University of Pennsylvania in innovation management, a Master of Arts in journalism from New York University, and a Bachelor of Arts from the University of Pennsylvania in philosophy, politics, and economics. In her time at the World Economic Forum she was selected as a Global Leadership Fellow, completing a multi-year global leadership development program. And as the first woman on the Lipman Executive Leadership Team, Elyse brings a new level of diversity to the table.
Congratulations to Elyse and the Lipman team!
RANCHO CORDOVA, CA - Renaissance Food Group (RFG) is tapping into the flavors of the Tex-Mex region during the upcoming Viva Fresh Expo, and bringing the company’s southwestern specialties to the trade show floor. Nelia Alamo, Vice President of Communications, takes a moment out of her busy pre-Viva prep to chat about the event ahead and the company's value-added offerings.
“We are excited about our southwestern specialties program, especially the items being produced at our Houston facility. We really want to feature the regional flavor profile that is so popular in Texas and the southwestern states,” Nelia shares with me. “First, we have two new slaw mixes: a Roasted Corn Slaw and a Firecracker Slaw. Both showcase enhanced recipes that include fresh cilantro and/or jalapeno. They are great because they allow the consumer to customize and add their favorite dressing or even protein.”
The two amazing ingredient mixes can be tapped as main dishes, side dishes, or garnishes to tacos and burgers. Exclusive to their Houston facility, RFG also has its fresh-made guacamole, featuring a fresh smashed avocado with lime juice, garlic, salt, and our signature fresh pico de gallo mixed in. In addition, RFG will feature stuffed mushrooms and vegetable blends that feature southwestern flavors.
“Viva fresh has grown into a great show for us. It helps support and highlight all the great products we produce in our Houston facility. It has been exciting to watch the attendance and participation grow during the past year years,” Nelia, tells me. “At RFG we really value our partnerships with customers. We want to be a valuable resource that can support their goals and consumers. It’s about good communication and trust.”
Make sure to check out the tasty offerings at the RFG booth #116, and I will see you this week at Viva Fresh 2019!
MCALLEN, TX - Between the recent smash Women's Fresh Perspectives Conference and the upcoming Viva Fresh Expo, it’s safe to say all eyes are on Texas right now. Among those not to be missed is Fox Packaging and Fox Solutions, offering attendees a one-stop-shop opportunity.
“Viva Fresh builds an exciting stage for the Texas produce industry and emphasizes the significance of our South Texas corridor while communicating the importance of what we produce, grow, and import,” Aaron Fox, Executive Vice-President, tells me. “The Texas International Produce Association pours their passion and creativity into this event which allows us to nurture established relationships and build new ones. For that, we are appreciative.”
In preparation for this year’s show, Aaron says the team has organized comprehensive information regarding the ongoing conversations and trends revolving around packaging, equipment, and fresh produce.
“Consumers are challenging packaging options as zero-waste lifestyles trend and as go green movements spearhead corporate social responsibility agendas―Fox Packaging understands our responsibility in contribution to the goals set by our customers in combat of waste management,” Aaron shares.
He explains that there is a strong voice in sustainability calling for action, and Fox has focused its research and development initiatives on the recyclability and reusability of its Fox Fresh Mesh® product line.
“Our focus has centered around this: Don’t ban plastic bags, understand them,” he emphasizes. “Fox Packaging is contending a stigma; not only does packaging protect fresh produce but it is a more environmentally beneficial option. Through education and research, our aim is to set a benchmark in the packaging industry.”
Intrigued? I certainly am. As more and more retailers seek out how to match consumers' seemingly-dueling demands of “fresher” but also more “eco-friendly” packaging options, this looks to be a necessary stop during your route around Viva Fresh’s showfloor. Aaron and his team, both on the packaging and solutions sides, will be available at booth #75. Be sure you don’t miss them on show day, April 27.