SALINAS, CA – Value-added fresh food provider Taylor Farms has announced its continuing efforts to offer customers an unparalleled experience—by using centralized re-distribution centers to help establish greater efficiencies and higher inventory turnover.
“Providing solutions to increase efficiencies and lower costs for our customers is one of our top priorities,” said Luis Amaral, Mexico Business Manager. “The ability to consolidate Taylor Farms’ products with fresh produce from other suppliers in a centrally located region in the middle of the U.S. creates a unique opportunity to save time and money.”
Over the next year, the company noted in a press release, Taylor Farms plans to leverage the rapid expansion of more than 150,000-square-feet of refrigerated space in Laredo, Texas. The addition of this refrigerated space will reportedly give the company the ability to store and refrigerate a more diversified product mix from a variety of industry leading growers and shippers—with a model built around high inventory turnover to capitalize on the freshness of Taylor Farms’ products and other fruits and vegetables.
Through collaboration with best-in-class suppliers, the company added, Taylor Farms will continue to develop its consolidation program—a platform designed to create substantial value for the company’s customer partners. The new platform will also mitigate some of the impacts of the newly implemented electronic logging devices (ELD) law—which will be 100 percent enforced on April 1, 2018—and also reduce time and increase efficiencies by eliminating the need for trucks to conduct multiple pick-ups.
“Taylor Farms continues to work hard to enhance the value they bring to their partners,” said Chris Ford, Manager, Produce Purchasing at Darden Restaurants. “The development of this new consolidation model will allow for fresher product at a competitive rate, while eliminating multiple picks from various suppliers.”
Stay tuned to AndNowUKnow for more on this and other companies providing partners with increased value, convenience, and strategic solutions to challenges in our industry.
BOISE, ID AND CAMP HILL, PA - In an effort to widen its business reach and broaden its audience, privately held Albertsons Companies is merging with publicly traded Rite Aid Corporations. With this merger, most of Albertsons’ pharmacies will operate under the name Rite Aid, and Rite Aid’s stand-alone locations will continue running under their current title.
“This powerful combination enables us to become a truly differentiated leader in delivering value, choice, and flexibility to meet customers’ evolving food, health, and wellness needs,” said Rite Aid Chairman and Chief Executive Officer John Standley. “The combined platform positions Rite Aid to capitalize on our pharmacy expertise and expand and exchange our pharmacy footprint. We are confident that delivering improved customer experiences and value will drive growth and profitability while creating compelling long-term value for shareholders.”
Once the company has been fully integrated, it will run about 4,900 locations, 4,350 pharmacy counters, and 320 clinics across 38 states and Washington DC. The locations will serve over 40 million customers every week.
The goal of this merger is to provide customers of the company with flexible and convenient access to food, health, and wellness offerings, while delivering value to customers, employees, and shareholders in the following ways, according to its press release:
- Enhancing geographic footprint and creating local networks in attractive geographies
- Leveraging strong pharmacy network and Rite Aid’s pharmacy benefit management company, EnvisionRxOption, to drive customer growth
- Utilizing data analytics and integrated loyalty programs to drive growth and target new customers
- Combining strong own brand portfolios with extensive manufacturing and distribution network to drive revenue growth and operating efficiencies
- Serving customers when, where, and how they want to shop
The merger agreement stipulates that for every 10 shares of Rite Aid common stock, Rite Aid shareholders reserve the right to elect to receive either one share of Albertsons Companies common stock and about $1.83 in cash, or they can receive 1.079 shares of Albertsons Companies stock. Shareholders of Rite Aid will own 28 to 29.6 percent stake in the combined company upon the merging’s closure, depending on the results of cash elections, the company explained in a recent press release.
Shareholders for the companies will hold 70.4 percent to 72 percent in the merging company’s fully diluted basis. After the merger is finalized, with the assumption that Rite Aid shareholders elect to receive shares and cash, Albertsons Companies will garner 392.9 million shares outstanding on a pro forma and fully diluted basis. Rite Aid has previously been publicly traded, but Albertsons Companies will be expected to trade on the New York Stock Exchange after the transaction closes.
“The hallmark of Albertsons Companies’ business has been to become the favorite local supermarket of our customers,” said Albertsons Companies Chairman and current Chief Executive Officer Bob Miller. “We have always put our customers first, and our combination with Rite Aid will enable us to even better serve the valuable pharmacy customer by providing a fully integrated one-stop-shop for our customers’ food, health, and wellness needs. I have long known the excellent management team at Rite Aid, and we share a singular focus on superior customer service and a clear vision and strategy to become the favorite local supermarket and pharmacy to shoppers in every neighborhood we serve.”
After the merger is finalized, current Rite Aid Chairman and Chief Executive Officer John Standley will become Chief Executive Officer of the combined company. Chairman and Chief Executive Officer Bob Miller of Albertsons Companies will serve as Chairman once the transaction is completed. This is one display of how the fully merged companies are expected to run, with leadership coming from both companies and headquarters based in both Boise, Idaho, and Camp Hill, Pennsylvania. The name, though, has yet to be revealed and will come to light once the transaction closes.
“As a long-term partner to Albertsons Companies’ world-class management team, this transaction highlights Cerberus’s confidence in this team and our convictions to the underlying customer focus driving this combination,” said Lenard Tessler, Vice Chairman and Senior Managing Director at Cerberus Capitol Management, which is leading of a group of investors backing Albertsons’ merge. “As significant shareholders, we are very optimistic about the future of the combined company.”
If you want more details on the merger between the companies, check out the press release here.
For the latest on the industry and how things are movin’ and shakin’, keep checking back with us at AndNowUKnow!
OXNARD, CA – San Miguel Produce, Inc. has announced that Bob Cummings will join the San Miguel Produce, Inc. family as the Vice President of Sales and Marketing.
“We have known Bob from the industry for many years and are excited to bring him aboard,” said COO Jan Berk, in a press release. “His passion is a great fit for our company culture and we believe that his leadership and experience will help our family farm reach its strategic goals.”
Cummings made the lateral transfer from meat to produce 18 years ago. During his time in the meat industry, Cummings worked for Hormel, Con-Agra, and Farmland Foods (now under the name of Smithfield Foods). Cummings began work in the produce industry when he moved to Reichel Foods. For the last 11 years, Cummings has worked at Crunch Pak.
San Miguel hopes that Cummings' long history with produce and the food production industry in general will help drive innovative sales and marketing programs as San Miguel Produce furthers its vision of The Growing Standard of Greens.
CALIFORNIA - President’s Day will be a chilly one for growers in California. A cold air mass referred to as the "Yukon Express" is expected to bring a wave of freezing temperatures down from Western Canada and into California, putting the Central Coast, including Salinas and Watsonville, on watch.
"Break out the jackets and sweaters! Today's upper-level charts are advertising the ‘Yukon Express’ developing on Presidents' Day and continuing through much of next week," said PG&E Meteorologist John Lindsey in a tweet on February 15. "Maximum temperatures will only reach the mid-50s with the overnight lows in the 30s."
According to a report by industry weather source Weathermelon, next Monday and Tuesday mornings will likely see frost and freeze warnings for Northern Coastal regions and the Central Valley. Weathermelon predicts Monday and Tuesday morning minimum temps as the following:
- Salinas - 33/34
- Santa Maria - 34/34
- Modesto - 31/31
- Fresno - 31/32
- Visalia - 29/29
- Bakersfield - 33/35
The trend Lindsey discussed will occur over the course of next week, until Wednesday, the San Luis Obispo Tribune reported. Lindsey shared with the source that he doesn’t predict any rain during this period. But good news for California’s drought levels. PG&E’s longer-range models predict more wet weather by the end of the month.
AndNowUKnow will keep our eyes on California’s growing regions and the weather coming their way, so stay tuned as we continue our updates!
SACRAMENTO, CA – Ready? Let’s go! It’s once again time to race your produce peers and compete for our $100 grand prize. So try your hand at our Snack Magazine contest.
Here’s how it works:
Find the hidden AndNowUKnow logo—our signature apple pictured below—on the cover of the February issue of The Snack Magazine—featuring SUNSET®. Then, race your friends across the industry to be the first to email [email protected] a picture of yourself pointing to the logo.
The first to find our logo and send us a qualifying picture wins. In order to qualify, participants must send a picture of themselves pointing to the logo. Please, let us see your face and not a disembodied finger or circled image!
Cash in on that $100 prize and recoup bragging rights as well!
Previous winners include:
- Francesca Fordice of J. Marchini Farms
- Danny Ortiz of Sysco
- David Carrick of EarthFresh Foods
- Adam Donikian of Sobeys
- Jennifer Velasquez of Golden Sun Marketing
- Kate Reeb of Veg-Fresh Farms
- Mimmo Franzone of Longo’s
- Scott Hakes of Ciruli Brothers
So, grab your phone or camera and your copy of The Snack, and get to it. Time is precious!
Interested in receiving a copy of The Snack to give you a leg up in future challenges? Subscriptions are valued at $129 per year, click here to subscribe.
YAKIMA, WA – If retailers are still searching for a pop of green for this upcoming St. Patrick’s Day, their search is over! Domex Superfresh Growers® encourages retailers to go for the green with Granny Smith apple displays and promotions. With the apples available in both organic and conventional, bulk and bags, there is something for all consumers.
As the #4 ranking apple in America’s top apple varieties, according to Superfresh, Granny Smiths are always on trend: in fact, they are among the most talked about apples in digital media! The bright green apples are perfect for apple pie, juicing, and just good old snacking.
According to a recent Superfresh Growers press release, Granny Smith apples represent 11 percent of the apple category in both dollar share and volume (IRI data through 12/31/17) and organic sales of the apple grew 4.6 percent in pounds in December. The apple does especially well with Millennials, who tend to buy more produce and to prefer tarter apples in general, but also does well across all demographics and households.
Superfresh Growers recommends bright green, festive apple displays for the upcoming holiday—featuring bag, bulk, organic, or convention apples—and St. Patrick’s Day promotions near the cash register.
For more information on Granny Smith apple ads, reach out to your Superfresh Growers representative, and, to stay in the know on holiday promotions, keep reading AndNowUKnow.
SALINAS, CA – Church Brothers Farms and grower-owned processor True Leaf Farms are growing their sales arm, having added produce industry expert Bobby Nunes to the team and promoting Lisa Dennis.
Bobby brings 28 years of experience in fresh operations to the team, having worked with notable names in the industry like Ippolito International, Duda Farm Fresh Foods, Tanimura & Antle, Newstar Fresh Foods, River Ranch Fresh Foods, and Dole Fresh Vegetables.
In addition to his impressive portfolio, he has a Bachelor’s of Science degree from Kansas State University.
Lisa has moved up to Assistant Sales Manager, reporting directly to Sales Manager Tom Bramers. She has been active in the produce industry for 20 years, 10 of which have been with Church Brothers Farms.
She started out in her family’s transportation company, moving on to work for Ocean Mist Farms, Dole, and Colorful Harvest before finding a home at Church Brothers. In her new role, Lisa will support the in-house sales staff, according to a press release.
“As our business expands, we need team members who understand the produce industry and can provide the level of customer service we deliver,” Jeff Church, Vice President of Sales, said. “Lisa has been a big part of our growth and we anticipate Bobby being a part of our future.”
Congratulations to both Lisa and Bobby on these new roles!
ROCHESTER, NY – With over twenty-one years making Fortune’s 100 Best Companies to Work For list, Wegmans Food Markets has done it again, adding another year to its tally of wins. This year, Great Place to Work® and Fortune Magazine ranked Wegmans #2 for the second year in a row.
“When we see our company near the top of this list we feel pride, but also tremendous gratitude for our people who make Wegmans a special place to work and shop for all. Customers often say how much they appreciate our employees for making Wegmans such a happy place. We thank each of our employees for this honor and celebrate with them and our customers,” said President and CEO Colleen Wegman, who is the fourth generation of her family to lead the century-old company, in a press release.
Fortune's list is based on survey responses from more than 310,000 employees rating their workplace culture on over fifty workplace elements. According to the Great Place to Work®, the 2018 winners set themselves apart from other companies through high-trust cultures, and continuously outperform the stock market, beat industry rivals in talent retention, and demonstrate higher levels of productivity than peers.
“We are all a family. From old to young, we help each other out whenever it’s needed. I enjoy coming to work because I love my job and I love the people I work with. Wegmans isn’t just my place of employment. It’s my second home,” said one of Wegmans 50,000 employees, according to Fortune.
Other familiar grocery retail faces to make the list were Publix Food Markets (#47) and Nugget Market (#70). For the full list of winners, click here.
Congratulations on workplace excellence to Wegmans Food Markets! For more produce industry accomplishments, keep checking back with AndNowUKnow.
WATSONVILLE, CA - Let’s Blend’s tour around the world is not yet over, with Monterey Mushrooms bringing its ready-to-blend, finely-diced mushroom product line to the South. From March 1-3, Monterey Mushrooms will be setting up camp at Southern Exposure booth 235, ready to talk about its headlining mushroom products.
“People want to eat better without giving up flavor and texture,” Lindsey Roberts, company Marketing Manager shared. “Let’s Blend works well with ground beef, chicken, lamb, pork, or turkey. It makes meat juicier without adding fat or cholesterol.”
Available in an 8-ounce package, Let’s Blend tackles three flavor profiles in pre-seasoned packs, including Classic, Mexican, and Italian. Roberts explained that the line is an easy way for home cooks to achieve the same blended concept that is now becoming popular throughout restaurants nationwide.
In addition to containing an innovative value-added product, Let’s Blend’s recyclable packaging offers an extended shelf-life of 45 days, cooking instructions on pack, a visible use-by date, and a cut-out window to see the product.
Attendees of Southern Exposure will be able to sample the Let’s Blend line in one of my personal favorite ways to blend—tacos—featuring taco meat mixed with the Mexican-flavored Let’s Blend mushrooms.
And that’s not all—the company will also make available samples of all the products and packages in its fresh line including clean-n-ready, vitamin D, certified organic, as well as whole and sliced mushrooms. ANUK will see your beautiful faces at booth 235!
ROSEMONT, IL – One of the largest foodservice companies in the United States—US Foods Holding Company—announced robust growth across the board this quarter—beating expectations and growing both its business and its profits.
“We had a strong year and delivered on our commitments to expand gross profit dollars and grow adjusted EBITDA,” said Chairman and CEO Pietro Satriano, in a press release. “Through the continued execution of our Great Food. Made Easy. strategy, we increased sales with our targeted customers, including accelerating quarterly volume growth with independent restaurants. In 2018, we will continue to leverage our innovative products, industry-leading technology, and value-added services to drive profitable growth.”
Highlights from the company’s fourth quarter 2017 report include:
- Total case volume increased 1.9%; independent restaurant case volume increased 7.1%
- Net sales increased 5.6% to $6.0 billion
- Gross profit of $1.1 billion increased 4.6%
- Operating income increased $66 million to $182 million
- Net income of $256 million increased $179 million
- Adjusted EBITDA increased 9.4% to $290 million
- Diluted EPS of $1.15; adjusted diluted EPS of $0.44
US Foods also noted that, for Q1 fiscal 2018, the company expects year-over-year adjusted EBITDA growth to be approximately 100 basis points below the low end of the range—and attributed this to poor weather conditions and timing of the New Year’s holiday. The company expects EBITDA growth to accelerate throughout 2018 and announced that it is raising its mid-term target for adjusted EBITDA growth from 7-10% to 8-10%.
The company also announced highlights for the entirety of its 2017 fiscal year, including:
- Total case volume increased 2.9%, independent restaurant case volume increased 5.2%
- Net sales increased 5.4% to $24.1 billion
- Gross profit of $4.2 billion increased 4.1%
- Operating income increased $160 million to $574 million
- Net income of $444 million increased $234 million
- Adjusted EBITDA increased 8.8% to $1.1 billion
- Diluted EPS of $1.97; adjusted diluted EPS of $1.38
To read more about US Foods’ Q4, see the company’s fiscal earnings report in its entirety here.
And for more fresh produce news, stay tuned to AndNowUKnow.