CULIACÁN, SINALOA, MX - Sinaloa Encanta sure knows how to throw a party! In just two days, 2,000 attendees flocked to the city of Sinaloa for the 5th annual event, where they enjoyed gastronomy and culture amidst business opportunities aplenty. To top it off, the event offered a main concert by Yuri.
Networking Day—attended by 200 individuals hailing from international buying, agricultural producing, restaurant running, wine house running, and international and local media producing industries—captivated attendees with its Industrial Revolution 4.0 panel.
Further, 75 meetings were counted, according to a recent press release—mostly between buyers and agricultural producers, as well as restauranteurs and national wine houses.
Viva Orgánica, an agricultural farm, held the Sinaloan field tour, where 35 visitors were exposed to innovation and food safety initiatives seen throughout the production process.
Attendees were wowed by Sinaloa’s uniquely beautiful colors, flavors, and traditions at the event, where 23 restaurants from the state and 10 of the most prominent wine houses from the country came together to showcase their products and services.
At the event, Eduardo ‘El Tano’ Leyson, Yolanda Andrade, and Aldo Rendón spoke to emphasize the event’s vision, comprised with heart and soul, while also noting that this year supported Navolato-based Henry Ford Elementary School. There, children come from agricultural laboring families. Further, four prostheses were donated to Markoptic to help children with disabilities have a better quality of life.
At the Hacienda El Amigo as the Tan Cerquita Tour began, Yuri, Juan Gabriel, and the Jarocha took the stage while attendees sang and danced the night away to hits like “Es Ella Más Que Yo,” “La Maldita Primavera", "Cuando Baja La Marea", "Detrás De Mi Ventana,” “Hombres Al Borde De Un Ataque De Celos," and “El Apagon.”
When the party ended, attendees stayed until 2 a.m. dancing and enjoying the beautiful event with industry professionals all around them.
For more information on fresh produce industry events, keep checking back with us at AndNowUKnow!
KINGSVILLE, ON - To make spring time even brighter and happier, Double Diamond has teamed up with the Daily Bread Food Bank to take its social responsibility to new and exciting heights by delivering fresh and flavor-packed produce to those in need in Toronto, Ontario.
“Giving back to the community is something that we feel strongly about at Double Diamond Farms,” said CEO of Double Diamond Farms Chris Mastronardi. “So when we saw an opportunity to help those in need by donating some of our produce, we knew it was something that we had to be a part of.”
Since their partnership developed in late 2017, the two organizations have sought to create a positive impact in Toronto’s local communities with weekly donations of tomatoes, peppers, and cucumbers.
"We feel so fortunate to get these donations of gorgeous, fresh produce that help us feed thousands of individuals and families,” said CEO of Daily Bread Food Bank Neil Hetherington. “Double Diamond Farms is making a bold commitment to alleviating hunger and reducing food loss. We are so grateful for this partnership—it’s a game-changer for food programs across Toronto.”
As we turn over a new leaf this spring, it’s exciting to hear that companies are helping their communities blossom and thrive alongside them.
For more fresh produce industry news, keep checking back with us at AndNowUKnow!
VANCOUVER, CA - This month, Oppy Chairman, President, and CEO John Anderson was honored among Canada’s Most Admired CEOs. The 43-year Oppy veteran accepted his award on the first of this month at a gala event hosted in Toronto, Canada.
“I continue to be extremely proud of the Oppy team and the amazing things we achieve day in and day out,” Anderson said, according to a company press release. “While it is very gratifying to be recognized, my own admiration goes to the hard working, results-focused group that meets the challenges of our complex business with steadfast support of one another.”
Anderson was selected by leading Canadian executive development firms Waterstone Human Capital and MacKay CEO Forums from a field of industry leaders throughout Canada and presented his Most Admired CEO award in the “Enterprise” category—a category reserved for executives from companies that earn annual revenues of $1 billion or more.
According to the company’s press release, Anderson was selected for fostering a winning culture at Oppy—a culture that enhances performance and sustains a competitive advantage. Anderson credited the company’s success to a combination of its collaborative strategic planning process and a culture backed by Oppy’s “expect the world from us” promise—a promise Anderson introduced some 15 years ago.
While the honor was announced last November, the awards ceremony this month, embedded in a corporate culture summit for company leaders and an exclusive CEO-only culture workshop, made it official. Oppy itself was recognized as having one of Canada’s Most Admired™ Corporate Cultures last year and will hold the designation through the remainder 2018. The company was also recently recognized as one of Canada’s Best Managed companies for the 17th year, with 11 years in the program’s esteemed Platinum Club.
This year, Oppy will celebrate its 160th anniversary, and the company noted that Anderson—throughout his 43-year tenure—was instrumental in the continuation of the company’s rich traditions and values.
Anderson's latest honor will add to a long list of accolades extending throughout the exec’s career. Anderson has an impressive list of acheivements—including the 2014 Lifetime Achievement Award from the Chile America Chamber of Commerce, 2014 Business in Vancouver BC CEO Award, 2014 Acquisitions International Business Excellence Award, 2015 Ernst & Young Entrepreneur of the Year Award.
We at ANUK extend our sincere congratulations to Anderson and the Oppy team—and wish them both the best.
THE WORLD - Have you ever dreamed of sailing across the seven seas in search of buried treasure? Then this challenge, in celebration of next week’s launch of Sea of Thieves, which employs bananas as a healing item, is for you. In celebration of the upcoming launch, Rare, a video game developer, and Microsoft are encouraging players to live action role play (LARP) in the most realistic game of their lives—a real-life treasure hunt for some real-life golden bananas, according to tech news source Kotaku.
The produce staple stars—in 18-carat gold with a $27,970.80 price tag—as the bounty for the three day, fifteen riddle, online and real-world treasure hunt. The hunt begins at 7 a.m. AEDT on March 18th through a passage on the company’s promotional website.
Grab two friends and join together to be the first crew in your region to solve the riddles by the time the final riddle drops on March 22nd, and you’ll be in the running for the grand prize. Clues will be hidden in Sydney, Berlin, Paris, London, Florida, and Victoria. Keep your eyes peeled for clues through Xbox and Rare social media.
For more on all gilded produce, stay with us at AndNowUKnow.
BENTONVILLE, AR - Building off of the company’s recent series of grocery updates—including a partnership with Instacart through its Sam’s Club wing, the acquisition of Parcel, and the recent announcement of its Eden technology to help reduce food waste—Walmart is now becoming involved in ag tech, with an application for a series of six patents aimed at farm automation, according to The Spoon.
Though many companies, Amazon in particular, are currently working to shorten the supply chain with grocery delivery, with this move Walmart gains greater control over its supply chain on the production side. The patents for which the retailer has applied would aid in an effort to use drones to identify pests attacking crops, monitor crop damage, spray pesticides, and pollinate crops, according to CBInsights.
With greater control over how its produce is grown, Walmart could vertically-integrate, manage crop yields more effectively, and draw shoppers with transparency and sustainability. To track pests, the proposed drone would monitor crop damage and spray targeted pesticides or shoo off birds, CBI Insight Report. Perhaps the weightiest patent application is the one for the pollinator drone, or robot bee, which could carry pollen from one plant to another with sensors to verify a successful transfer.
To see just how deep retailers will delve into agriculture and farming, keep reading AndNowUKnow.
ORONDO, WA - 90 years ago this month, Grady Auvil founded Auvil Fruit Company with just 22-acres and the dream of providing consumers with beautiful, nutritious, wholesome fruit. Alongside his brothers, Robert and David, Grady cultivated the land by hand, planting apples, apricots, and Bartlett pears.
“We’re very proud of our heritage here at Auvil Fruit Company, and we continue to strive for excellence in the future. ‘Where Passion Meets Flavor’ is not just a tagline or motto, for us it’s the driving force behind all we do here at Auvil Fruit Company,” Ray Norwood, Director of Sales, recently shared with me.
By its 10th anniversary, Auvil Fruit Company had doubled its orchard acreage and introduced its Red Haven peaches to the Northwest. The Auvil brothers continued to innovate, planting new varieties, learning new methods, and rebuilding their orchard on higher ground to accommodate the Rocky Reach Dam in the 1950s.
In the 1960s, the company co-founded the Washington Tree Fruit Research Commission, which continues to guide Washington State Legislature and standards concerning research and applied science in the tree fruit industry today, according to a press release. But it was the introduction of the Granny Smith apples and being amongst the first companies to successfully market Rainier Cherries that was perhaps the apex of Auvil Fruit Company’s cultural influence.
Governor Gary Locke presented Grady, for his perseverance and dedication, with Washington state’s highest honor, the Washington Medal of Merit in 1998.
From its humble beginnings, Auvil Fruit Company has grown more than 100-fold to 2,400 acres. The company hopes for another 90 years of effecting its philosophy “Where Passion Meets Flavor.”
Congratulations to the company and its team on this milestone achievement!
SAN FRANCISCO, CA - When I think brunch, I think a big ol’ pile of potatoes with all the fixings, and it looks like I’m not alone. Fresh Solutions Network’s Side Delights® brand has checked the studies, with data showing that the produce item is consistently topping the list as one of the most popular breakfast and brunch components.
“Potatoes continue to be a consumer favorite, and brunch is a natural fit,” said Kathleen Triou, President and CEO, noting that the growing trend is moving beyond the confines of a weekend morning. “Side Delights offer fresh, wholesome potatoes of the highest quality in a full-range of potato types and bag sizes so consumers can make restaurant quality brunch at home—any day of the week, any time of day.”
According to a study by Mintel, brunch is a top food trend once again for 2018 in both restaurants and home cooked meals alike. The four top breakfast components on the list were eggs, bacon, bread, and, of course, potatoes. One way to achieve the potatoey glory consumers are craving? The National Restaurant Association’s “What’s Hot Culinary Focus 2018” list and a list of Leading Trends in Breakfast Brunch Items touted Breakfast Hash as one of the top five leading trends in breakfast/brunch.
A Side Delights press release offered its products as an ideal solution for breakfast hash, or any other brunch menu. Consumers can check out both traditional and innovative recipes, such as the trendy tri-color potato hash with kale and pancetta, or the tried and true breakfast hash with bacon and poached eggs.
Another tantalizing brunch option is pizza, an additional Mintel study showed, with 61 percent of consumers citing Breakfast Pizza as a brunch item. Brunch restaurants across the country are including potatoes on their breakfast pizza, such as Maximiliano in Los Angeles, which offers theirs with fingerling potatoes, bacon confit, eggs, fennel sausage, pomodoro, and mozzarella. What is the Side Delights answer? Consumers can get creative with Grilled Breakfast Pizza with Torn Potato Croutons, Arugula, Tomato, and Egg.
Hungry yet? To find out more about Side Delights and all its potato products, check out the company’s website here. Until then, keep checking back with AndNowUKnow.
MEMPHIS, TN - In an effort to further embed itself within the industry, Memphis, Tennessee-based International Paper Company submitted a proposal to acquire on the entire issued and to-be-issued share capital of Dublin, Ireland-based Smurfit Kappa, which has since denied the proposal due to disagreements on the company's worth and offering price.
“Smurfit Kappa notes the announcement released by International Paper Company setting out the price of the unsolicited and highly opportunistic proposal... Shareholders are strongly advised to take no action,” Smurfit Kappa said in a statement, according to Reuters.
As stated in a recent press release, the company explained that if the transaction had been accepted and had gone through, Smurfit Kappa shareholders would have been entitled to receive €22.00 in cash and 0.3028 new International Paper shares of common stock for every Smurfit Kappa ordinary share they held.
On March 5th, International Paper’s closing share price was $58.94, according to its recent press release, and it had a € to $ exchange rate of €1 to $1.2343. With that said, the proposal values Smurfit Kappa ordinary shares at €36.46 each. Exposed in the press release, this represents a premium as approximated in the following details:
- 27.4 percent to Smurfit Kappa’s closing share price of €28.62 on 5 March 2018 (being the last business day prior to the release of the announcement)
- 28.4 percent to Smurfit Kappa’s volume weighted average share price of €28.41 since its Full Year Results on 7 February 2018
- 30.2 percent to Smurfit Kappa’s closing share price of €28.00 on 13 February 2018 (being the last business day prior to International Paper’s initial approach to Smurfit Kappa)
- 22.5 percent to Smurfit Kappa’s all-time high share price of €29.76 on 20 February 2018
Smurfit Kappa’s current issued share capital was valued at at €8.6 billion in the proposal, according to the press release, which would have provided Smurfit Kappa shareholders with a shareholding of about 15 percent in International Paper after the transaction’s completion.
According to the release, Smurfit Kappa sees the proposal as highly opportunistic. Reuters reported that Smurfit Kappa's shares rose 18 percent once the proposal was flagged on Tuesday, and another 4 percent by 0840 GMT, reaching €35.2.
On the other hand, International Paper noted that Smurfit Kappa shareholders would have been able to crystalize their holdings’ value for near-term, as well as see the transaction’s value creation. Further, the company saw that consolidation of these companies would haven created a premier global packaging powerhouse, serving customers all over the world more effectively and realizing meaningful synergies with enhanced efficiencies.
This step was calculated in that International Paper’s disciplined approach to acquisitions saw that Smurfit Kappa meets its strategic and financial criteria, which include earnings per share accretion, free cash flow generation, and a return on invested capital exceeding International Paper’s weighted average cost of capital. Taking it one step further, the company requires that it remains committed to a strong balance sheet over the long term.
Will International Paper be able to woo its European competitor with another proposal in the future, or will it seek a different acquisition to fulfil its growth pursuits? AndNowUKnow will keep you updated with the latest as the story develops.
PROVIDENCE, RI - United Natural Foods, Inc. has reported the financial results for the second quarter of fiscal 2018, which ended January 27, 2018. Results were overwhelmingly positive with increases in net sales, earning per diluted common share, and adjusted operating income.
“Our business performed well during the quarter, and I’m proud of both our results and our people. While the retail landscape continues to change, I believe UNFI is well-positioned to win. Consumer interest in better-for-you products has never been greater than it is today, and UNFI is an important connector between manufacturers, brick and mortar retailers, and Ecommerce customers. Our outlook for the remainder of fiscal 2018 remains strong,” said Steven L. Spinner, Chairman and Chief Executive Officer, according to a recent press release.
Highlights from the second fiscal quarter of 2018 are as follows:
- Net sales increased 10.6% to $2.53 billion compared to $2.29 billion for the same period last fiscal year
- Earnings per diluted common share increased $0.49 to $0.99 from $0.50 for the same period last fiscal year; adjusted earnings per diluted common share was $0.71, excluding a provisional one-time benefit related to U.S. tax reform and restructuring and impairment charges
- Operating income decreased $6.1 million, or 13.1%, to $40.2 million compared to $46.3 million for the same period last fiscal year; adjusted operating income, excluding restructuring and impairment charges, increased $5.2 million, or 11.2%, to $51.4 million
- Net income for the second quarter of fiscal 2018 increased $25.0 million, or 98.1%, to $50.5 million, or $0.99 per diluted common share, from $25.5 million, or $0.50 per diluted common share, for the second quarter of fiscal 2017
To stay in the know on the fiscal health of companies throughout our industry, keep reading AndNowUKnow.
SEATTLE, WA – After announcing plans to establish a secondary headquarters—a $5 billion campus dubbed HQ2—in September of last year, Amazon narrowed its field to 20 qualifying cities in late-January of 2018. And a recent Bloomberg BNA report suggests one key determinant may have come into play when qualifying potential HQ2 sites—a supply of local “tech talent.”
According to the news source’s report, representatives from municipalities including Detroit, Michigan; Cincinnati, Ohio; Baltimore, Maryland; and Charlotte, North Carolina, reported being disqualified from Amazon’s search because of a lack of tech-savvy labor. Conversely, many mid-sized cities with emerging tech sectors like Columbus, Ohio; Indianapolis, Indiana; and Austin, Texas, made the grade—prompting speculation that an ample supply of local tech workers may be the overriding factor that Amazon is considering.
“If you’re going to hire 50,000, and you need 30 applications to fill each job, that’s 1.5 million just to apply,” Mark Williams, Board Chair for the Site Selectors Guild and President of Strategic Development Group, told Bloomberg Law. “That’s every Tom, Dick, Harry, and grandmother for smaller cities. You either have to have the people there or you have to move in a couple million more.”
Bloomberg BNA’s report goes on to note that all of Amazon’s top-20 HQ2 finalists have elite tech talent, and only six of the finalist cities have less fewer than 50,000 tech workers, according to the 2016 U.S. Bureau of Labor Statistics.
Further, the report speculates that because Columbus and Austin—two cities considered dark horses by some—are the only cities in the United States with a population greater than 1 million, a flagship university, and a state capital, these two cities may be two strong contenders for HQ2.
Where will Amazon’s massive $5 billion HQ2 land? AndNowUKnow will keep you up-to-date with news on this and other important retailers.