WESTLAKE, FL – Sweet, unique, and the perfect bite-sized treat, J&J Family of Farms’ new pepper variety, Sunny Sweet™ Peppers, are here and ready to refresh the pepper category with innovation.
“With the mini sweet pepper category growing in retail, we are thrilled to offer a product that isn’t in the marketplace yet,” said Lynn Rundle, Chairman and CEO, in a press release. “Our growers also love it, because it has a great yield and grows beautifully on the plant. We are confident that once consumers taste this pepper, they will want to get their hands on it.”
Currently grown only in Florida, Sunny Sweet Peppers are a unique, proprietary, field-grown variety with a much sweeter taste than typical mini sweet peppers due to their higher Brix.
The Sunny Sweet Peppers also have a very small seed cavity located at the very top of its pod, making it easier than ever to enjoy as a bite-sized snack, stuffed, or cut up in a salad.
“We really wanted the packaging to reflect the true uniqueness of this pepper by creating a fun brand that will make an impact among our customers and their consumers,” said Angela Gamiotea, Marketing Manager. “We are excited to introduce this new Sunny Sweet brand, as this is just a glimpse of what’s to come in terms of product innovation at J&J Family of Farms.”
While the Sunny Sweet Peppers are currently only available in bright yellow hues, next year J&J is looking to expand the line to provide colors such as red and orange as well. Available now in the grocery aisle, look for J&J’s Sunny Sweet Peppers in 1 lb resealable bags.
And, if you’re visiting Southern Exposure, stop by booth #200 to check out J&J’s new pepper line and more.
For more of what’s new in produce, keep checking back with AndNowUKnow.
THE NETHERLANDS - On the heels of Valentine’s Day, romance is on the brain. And truly, what is more romantic than the fresh green glow of an avocado. Well, at least that is what food stylist Colette Dike would lead you to believe. With just the power of an Instagram post, a new proposal trend was ignited—behold, the avocado-nested engagement ring.
Believe it or not, an avocado could be the key to finding your soulmate. When Colette shared an image of an engagement ring being delicately planted in the flesh of an avocado on her account, Food Deco, the post reached more than 10,000 likes and over 2,000 comments.
And thus a trend was born. One man particularly swayed by the radiating love of the chartreuse fruit is my new inspiration, Scott, who recently posted a video proposing to his girlfriend, Becky, on YouTube, aptly titled, “Avocado Proposal.” In an elaborately edited 11-minute video featuring “Your Song” from Moulin Rouge! our new friend Scott gets down on one knee, avocado in hand.
“This avocado is our relationship,” he says. “Surprises, laughs, tears...will you marry me?”
SWOON! Right? If you are still feeling the romance in the air from Valentine’s Day and want to get creative with your love, take note of this modern-day Casanova before things start to go rotten.
SPARKS, GA - Celebrating the grand opening of Grimmway Farms’ new packing and warehouse center, company President and CEO Jeff Huckaby was joined by political leaders and local officials for the big occasion. In attendance were U.S. Secretary of Agriculture Sonny Perdue, Georgia Agriculture Commissioner Gary W. Black, and other community and business leaders.
The Southeast Regional Packing Facility and Warehouse, located in Sparks, Georgia, will bring permanent and seasonal jobs to the region, as well as help the company to better serve its East Coast customers.
“At Grimmway Farms, we are always looking for fertile regions to grow carrots and further develop our year-round program,” said Huckaby. “We found Cook County to be a great location to expand our operations. We are committed to providing customers with unparalleled service and this new packing facility in Sparks will allow us to load six days a week from February to May, ensuring timely delivery to our regional customers.”
Feel like you're there, too, with the above video!
In addition to adding four permanent, full-time jobs and 50 seasonal jobs to Cook County, the new facility will bring positive economic impact. According to a press release, Grimmway made approximately $5 million in capital investment to bring the new Georgia facility online and expects its Southeast operating budget to be more than $2.5 million.
“We are proud to welcome Grimmway Farms to Georgia,” said Georgia Agriculture Commissioner Gary W. Black. “With further processing of raw agricultural products historically lacking in the Southeast, Georgia is honored to be the home of this unique facility which has the potential to have significant impacts on our rural and agricultural economies in both the state of Georgia and entire Southeast.”
Huckaby highlighted the “warm welcome and tremendous support” Grimmway’s received from government, business, and community leaders in Georgia, adding, “The partnerships we’ve created over the last several months are a testament to the commitment these leaders have to the economic vitality of the region.”
Following the community luncheon and ribbon-cutting, attendees toured the facility.
“We are thrilled that Grimmway Farms has chosen Cook County, Georgia, as the location for its facility in the Southeastern U.S.,” said Lisa Collins, Executive Director of the Cook County Economic Development Commission. “Our local leadership looks forward to a long-term partnership with Grimmway Farms, and continues to be committed to developing an environment that fosters job growth, capital investment, and improved quality of life.”
The new plant has already begun shipping Grimmway’s popular cello and jumbo carrots, packed under the Grimmway Farms, Bunny-Luv, and Premier labels.
LOS ANGELES, CA – With high-profile produce acquisitions and investments making headlines in recent months—including Del Monte Fresh Produce’s acquisition of Mann Packing and Total Produce’s equity investment in Dole—private equity is on the minds of those in our industry.
I recently had the opportunity to discuss private equity investments with Joel Montminy. As the Founder and CEO of CREO | Montminy & Co., a Los Angeles-based boutique investment bank, Joel and his firm have advised over 100 companies in the food industry—including nearly two dozen in produce.
Q: How do you envision the role of private equity in the fresh food business?
Joel Montminy: A good private equity investor provides an operator with some liquidity to diversify wealth, capital to grow and take more business risks, and experience in professionalizing businesses to reach its next level. Active private equity interest in an industry also forces strategic buyers to pay a minimum level of price—so for anyone looking to exit their business it serves as an important market benchmark on valuation.
Q: What are some of the challenges associated with operating in this industry? The rewards?
JM: Challenges are several, including operating with higher demands in the areas of personal accountability, scrutiny, and accelerated decision making. Timing is also a constraint, as private equity owners typically have a three to five year horizon on their investment before looking at exiting and when compounded with leverage, there is less room for error and patience for long-term investment. The rewards can be outsized returns for all equity holders through leverage and growth.
Q: How would an interested party—maybe a grower/packer/shipper—approach the potential of a private equity investment? What would the process look like?
JM: In today’s sophisticated capital markets, most companies seeking an investor have representation either from their lawyer, accountant, or investment banker—or more often than not, all three. A company can always approach a private equity source directly, but not having the proper agent to package and sell the deal and provide other options makes for a challenging negotiation and transaction. In my experience, private equity investors want and appreciate when sellers have professional representation as well, as it indicates they are serious and well-prepared to make a transaction happen.
Q: What are some of the characteristics that make private equity partnerships work? What constitutes a ‘good fit’ for investors and operators looking to pair up?
JM: Private equity can bring to the fresh food industry the same financial discipline, rigor, and growth-oriented mindset that has accelerated and transformed nearly every other industry. They focus on improving operations, financial restructuring, and valuation expansion (from entrance to exit). That mindset also typically brings a bottom-line, short-term approaches with limited tolerance for deviation to plan. In today’s frothy market, investment capital is basically a commodity. What really differentiates a good fit is personal chemistry and vision alignment. Without that from the onset the relationship will be at risk whenever a significant challenge arises.
Q: Can you give me some examples of private equity partnerships in fresh produce that have flourished?
JM: We have represented and observed many fresh produce companies succeed post-investment but one that comes to mind was our sale of FreshKO Produce Services in Fresno, CA, in 2012 to Encore Consumer Capital. Encore was, up until that point, exclusively focused on branded consumer companies but they recognized the rising tide of healthy eating trends and the value of penetration throughout the supply chain. FreshKO’s owner/management team stayed on to run FreshKO and with Encore successfully grew the business for full exit to C&S Wholesale in 2015.
Q: What are your impressions of the recent Total Produce/Dole deal?
JM: I know Total Produce very well and they are a fantastic organization—they operate and think much like a private equity investor but with patience and strategic resources. Dole is an iconic, global brand coveted by many investors. I think this particular combination is a terrific move for both sides.
Q: Is there anything else you would like to get in front of our readership?
JM: Private equity investor interest works in cycles and we are at an all-time high in fresh produce. The relationship is not for everyone but it is available now to more companies than ever before.
To learn more about the role of private equity in our industry, interested parties can see Joel alongside Jay Pack, Ferrell Daste, and moderator Robert Lambert at the 2018 Viva Fresh Produce Expo’s educational session of mergers and acquisitions held April 6th at 8:45 a.m. during the three-day event held at the JW Marriott Hill Country Resort & Spa in San Antonio, Texas.
For more fresh produce news, stay tuned to AndNowUKnow.
PLANT CITY, FL – Wish Farms' Fifth Annual Strawberry Picking Challenge, presented by Monte Package Company, raised nearly $100,000 to benefit the children of the Redlands Christian Migrant Association (RCMA), according to a press release.
“The Picking Challenge continues to grow year after year,” said Gary Wishnatzki, Owner. “The berries were big and sweet, and the turnout was our best yet. I love that our industry shares a close bond with the community. Bringing folks together to recognize our dedicated farmers and field workers, as well as RCMA’s unwavering commitment is what this day is all about.”
The fundraiser mobilized 21 corporate-sponsored teams to compete in a relay-style strawberry-picking race. Some of the sponsors included the following:
- International Paper
- Publix
- Farm Credit of Central Florida
- Amalie Oil
- ATP
- Hillsborough County Sheriff deputies
When all was said and done, the AG Labor team, coached by Julio Cruz was crowned the 2018 “Best Harvest Crew” and became the newest recipient of the Strawberry Joe Trophy.
In addition to the challenge where sponsors competed against each other, growers also nominated their best harvester for a professional picking contest in which $800 was awarded to the winner and runners-up.
The family-friendly, day-long charity also featured a strawberry shortcake eating contest, balloon artists, games, music, a special appearance by the Florida Strawberry Festival Queen and Court, and the singing group “Next Radical Generation.”
According to the press release, the RCMA, to which the proceeds will go, is a non-profit organization that operates child-care centers and charter schools for Florida’s rural poor, including the children of farm workers, like the "professional harvesters" who participated in the picking contest and many of Wish Farms' employees. Since the conception of the event, The Picking Challenge has donated a total of $423,000 to the children of RCMA the press release claims.
To watch the 2017 recap click here, and to stay in the know, keep reading AndNowUKnow.
NEW ZEALAND – Cyclone Gita continues her path this week, now through New Zealand, with Christchurch and other districts on the South Island declaring a state of emergency. Last week, the system tore through the Pacific island of Tonga, then a Category 4 tropical storm, with speeds as high as 275 kilometers per hour—the worst cyclone the country has faced in 60 years.
“My message still to people is please look out for your local warnings and expect disruption to travel, and please just be careful,” Prime Minister Jacinda Ardern told reporters at Parliament, according to a report by 9News.
Wind speed was at 150 kilometers per hour as Gita first hit the zone between the North and South Islands as a Category 2 Tropical Cyclone, whipping waves up to 9 meters tall and bringing almost 30 centimeters of rainfall in its wake.
Air New Zealand announced all flights have been grounded and canceled, while transportation authorities have shut stretches of highway.
“Even though the deep low pressure system moves away from us early on Wednesday, the effects of Gita will last a few more days, with further rain likely about central New Zealand until Thursday,” said Lisa Murray at MetService in Wellington, according to New Scientist.
A report by MetService confirmed severe weather is still in store for New Zealand and has since issued a warning for heavy rain and severe gales. Many are currently without power.
Our thoughts are with those impacted. For more weather updates impacting the produce industry, keep up with the latest with AndNowUKnow.
BENTONVILLE, AR - Walmart’s online sales seem to be going through some growing pains as the retailer continues to ramp up e-commerce efforts. In the company’s Q4 and Fiscal 2018 financial results released early this week, Walmart showed drops in growth for both profit and online sales, but, according to President and CEO Doug McMillon, these slowdowns were mostly an inevitable part of what it will take for the retailer to establish a strong online base for next year’s holiday season.
"The majority of this slowdown was expected as we fully lapped the Jet acquisition, as well as created a healthier long-term foundation for holiday," shared Doug McMillon, President and CEO, during an earnings call with investors. "A smaller portion of the slowdown was unexpected as we experienced some operational challenges that negatively impacted growth."
According to the report, Walmart’s online sales for the fourth quarter grew just 23 percent, even with the holiday rush factored in. During the fourth quarter a year ago, online sales grew 29 percent, not to mention that online sales in the third quarter of this year were up a notable 50 percent. In total for the year, Walmart saw about $11.5 billion in U.S. e-commerce revenue, but lost money overall.
"As Doug mentioned, the slowdown in growth during the quarter was a bit more than we planned," said Executive Vice President and Chief Financial Officer Brett Biggs on the same call. "Looking ahead, we have a number of new initiatives planned for the year. We expect e-commerce growth to increase from the Q4 level as we enter the New Year, with about 40 percent growth for the year."
Despite Walmart’s preparation for the decline and its hope for the future, investors were still shaken by the news. According to Reuters, shares fell 9.4 percent, with the news source citing a nervousness that Walmart would not be able to compete with Amazon as it continues to grow its business. The stock was down $9.43 to $95.35.
In addition to the headline-grabbing e-commerce results, Walmart also reported the following highlights in its release on the results:
Fourth-quarter highlights
- GAAP EPS was $0.73 and adjusted EPS2 was $1.33
- Total revenue was $136.3 billion, an increase of $5.3 billion, or 4.1%
- Excluding currency, total revenue was $135.1 billion, an increase of $4.1 billion, or 3.1%
- Walmart U.S. comp sales increased 2.6%, and comp traffic increased 1.6%. On a two-year stack, comp sales growth of 4.4% marked the best performance in eight years
- Net sales at Walmart International were $33.1 billion, an increase of 6.7%. Excluding currency, net sales were $31.9 billion, an increase of 2.8%
- Consolidated operating income was $4.5 billion, a decrease of 28%
Fiscal 2018 highlights
- Total revenue was $500.3 billion, an increase of $14.5 billion, or 3.0%; Excluding currency, total revenue was $500.9 billion, an increase of $15.1 billion, or 3.1%
- e-Commerce sales and GMV at Walmart U.S. increased 44% and 47%, respectively
- Consolidated operating income was $20.4 billion, a decrease of 10.2%
- The company generated $28.3 billion in operating cash flow and returned $14.4 billion to shareholders through dividends and share repurchases
Despite the slowing growth, I think it’s safe to say this is just the beginning of what we’ll hear from Walmart in regards to its e-commerce plans. As the company continues on its retail battle, AndNowUKnow.com will continue to report.
MONTEREY, CA – This week, the Organic Produce Summit announced, “Organic Sales, Analysis and the Why Behind the Buy,” the second of six educational sessions to be held during its 2018 event. Featuring representatives from research firm Nielsen and consumer insights company The Hartman Group, the session will provide a data dive into sales, trends, and analysis of organic fresh produce and examine consumer behavior and attitudes of the multi-billion-dollar category.
“The session features two of the most prestigious organizations involved with sales data collection and consumer purchasing behavior. Nielsen is a valuable partner for OPS and we look forward to their analysis of organic sales and trends as it relates to the opportunities for producers and sellers of organic fresh produce. The Hartman Group will provide insight into the thought process of consumers as they continue to seek out organic fresh produce offerings,” said Susan Canales, President of OPS, in a press release. “OPS attendees will obtain valuable information to what items consumers are buying–and seeking–from organic fresh produce suppliers. This session will benefit both the production and sales side of the organic fresh produce industry.”
The session will include panelists Jordan Rost, Vice President of Consumer Insights for Nielsen, and Melissa Abbott, Vice President of Culinary Insights for The Hartman Group, with Kevin Coupe of Morning News Beat acting as moderator. Along with providing analysis of organic sales, trends, opportunity gaps, and reasons why consumers are purchasing organic produce at record levels, the second session will also explore opportunities for even greater organic fresh produce sales in the coming years.
OPS has also recently announced the first educational session, “E-Grocery and the Future of Organic Fresh Produce at Retail,” which will provide an overview of the burgeoning e-grocery business, featuring panelists Tony Stallone, Vice President of Merchandising for Peapod; Dan Bourgault, Head of Brand Partnerships for Instacart; and Don Barnett, Chief Operating Officer for Sun Basket.
Additionally, OPS has also confirmed two keynote presentations by Ed Carolan, President of Campbell Fresh, and Dan Buettner, noted journalist and discoverer of Blue Zones.
This year’s event will also entail a selection of field tours for retailers and buyers, a gala opening night reception, and a sold-out trade show floor featuring 130 producers and processors of organic fresh produce from across North America and the globe.
Held July 11-12 at the Monterey Conference Center in Monterey California, the third annual, two-day OPS 2018 brings together organic fresh produce growers/shippers/processors and retailer and buying organizations from around the world.
OPS will continue to announce additional educational sessions and an exclusive Retailer RoundTable in the coming weeks, but in the meantime, for more information, click here.
For more on what’s happening in produce, keep checking back with AndNowUKnow.
SAN FRANCISCO, CA - If you’re like me, you’ve been watching the Winter Olympics and thinking, “Why can’t I do that?” Well, it turns out the answer may be as simple as: not enough potatoes! With the Olympics in full swing, Fresh Solutions Network’s Side Delights® is taking a new look at potato’s ability to impact athletic performance, citing the newly released Olympian Menu among other high-profile potato applauding media.
In PyeongChang, Korea, where the Winter Olympics are being held, the 2018 athlete’s village kitchen has 180 chefs serving 7,000 meals a day at its peak, and two senior sports nutritionists appointed to the United States Olympic Committee. According to a press release, Team USA shipped 85 pallets of food and equipment–including potatoes–to ensure athletes had exactly what they needed for fuel at all times.
One of the nutritionists, Susie Parker-Simmons, gave her estimate of the recommended dinner for a female cross-country skier: “a bun or roll with 4 ounces of meat, a cup of vegetables, a cup of quinoa, and a cup of baked potato wedges, as well as yogurt and fruit.” Sounds like delicious athlete fuel to me!
“Athletes of all levels know that potatoes are fuel for athletic performance,” said Kathleen Triou, President and CEO of Fresh Solutions Network. “The recent RunDisney Health & Fitness Expo at the 25th Anniversary Walt Disney World® Marathon in Orlando, Florida, included a Potatoes USA Nutrition Program, giving credibility for potatoes as fuel for athletic performance, with 75,000 athletes and spectators receiving recipes and nutritional information on potatoes from the Potatoes USA team.”
In a press release, Side Delights cited, along with the 26 grams of carbohydrates present in potatoes that are necessary for performance, the veggie contains 620 milligrams of potassium–an important electrolyte that aids in muscle, cardiovascular, and nervous system function. And a bonus: potatoes are packed with antioxidants, boasting one of the highest overall antioxidant activities among vegetables.
Want to learn even more about potato nutrition? This data, as well as performance driving recipes and links to Performance Magazine, are available on the Side Delights’ website’s nutrition page.
I don’t know about you, but my Olympic training may start today with a side order of fries.
HOUSTON, TX - Expanding its reach in the southern region, Sysco announced this week that it has acquired broadline distributor Doerle Food Services.
“We are excited to welcome Doerle and its rich, long history to the Sysco family,” stated Tom Bené, Sysco's President and Chief Executive Officer. “Doerle has a sterling reputation of providing the highest-quality products, cultivating deep, long-term relationships with customers and suppliers, and providing impeccable service. We believe these principles align with Sysco’s vision of being our customers’ most valued and trusted business partner.”
Headquartered in Broussard, Louisiana, the new subsidiary was founded in 1950 by Paul Doerle, Sr., as a small, local produce distributor. Now with approximately $250 million in annual foodservice distribution sales, the family-owned business has grown to serve six states, including:
- Oklahoma
- Texas
- Arkansas
- Louisiana
- Mississippi
- Alabama
“As part of our strategic M&A plan, Sysco is focused on finding attractive growth opportunities which complement or expand the footprint of our core business,” continued Bené in a press release. “The acquisition of Doerle is a great fit for Sysco and reaffirms our commitment to creating value for our customers, associates, and shareholders.”
Clarifying that Doerle Energy & Marine is not part of the transaction, Sysco stated that it expects to retain the executive management team of the foodservice distribution business.
Details of the acquisition itself were not included in the release.