MCLEAN, VA - Gladstone Land Corporation is expanding its reach in Arizona with another multi-million dollar farm acquisition.
The real estate investment trust bought 1,239 acres of land with 840 irrigated, farmable acres near Willcox, Arizona, for approximately $5.7 million, or $4,600 per acre of farmland.
The company entered into a leaseback agreement with the seller for a 10-year, triple-net lease that provides for annual rent escalations and includes two, 5-year extension options. The tenant has technologically-advanced farming operations across the country and a strong presence in the region, according to a press release.
This latest acquisition brings the company’s total number of farms to 43. In total, these farms are comprised of 16,810 acres in six different states across the United States, valued at approximately $275 million. Most of this acreage is concentrated in locations where its tenants can grow row crops, such as berries and vegetables, as well as permanent crops, such as blueberries and almonds. Other properties, such as storage facilities utilized for cooling produce, processing buildings, packaging facilities, and distribution centers are also of interest.
A full list of the company's farmland portfolio can be found by clicking here.
David Gladstone, President and CEO, discussed this latest deal in a press release, noting that this recent offering will allow the company to acquire additional farms.
“Unlike much of the non-irrigated farmland in the Midwest, our properties have continued to steadily increase in value, with no negative years since our ownership of them,” he said. “With our current portfolio of high-quality farmland remaining 100% occupied by tenants who are all current in their lease payments, we believe our current position and our outlook for the future are both very strong.”
Bill Reiman, Gladstone’s Managing Director for the Western United States, shared this optimism, saying that they are happy to support their tenants and farm operators in providing a high-quality land asset.
“This is another example of our commitment to help our tenant-partners grow their businesses more profitably,” Reiman said.
For more on Gladstone and any other future acquisitions, stay tuned to AndNowUKnow.
AUSTIN, TX – John Mackey, Co-Founder and Co-CEO of Whole Foods Market, is undeterred when it comes to the challenges the natural and organic retailer faced this year. In an interview with the Post and Courier, the executive remained optimistic in the face of what he referred to as the hardest year the retailer has experienced.
“It was a challenging year for us for sure. We saw our same-store sales continually slow down, quarter by quarter,” he told the Post and Courier. “I cannot remember any year we received this much negative media coverage. We felt like a lot of things were just blown way out of proportion.”
Mackey was confident in a 2016 turnaround, which includes a 9-point plan featuring lower prices, more differentiation, and the highly anticipated, millennial-focused 365 format.
“[365 is] going to have a curated product mix. There’s not going to be any expensive items in those stores,” Mackey said, telling the Post that the company’s high quality food has equated to a high price reputation that this format will not have to bear. “In addition, we are going to invest less capital and have lower labor costs, which will allow us to operate the stores more efficiently and that will enable us to have lower prices. So 365 stores will be far less expensive, but they will also have the same quality Whole Foods has without compromising our quality standards.”
While negative headlines attributed greatly to the frustrations of 2015, Mackey is looking forward to a better year ahead.
“One thing is going to happen in 2016 is a lot of these trends will reverse themselves,” Mackey said, explaining that Wall Street focuses on spreadsheets based on the continuation of trend lines that were exaggerated. “I think that one of those things that ends up happening oftentimes in the media and Wall Street is they tend to exaggerate trend lines.
AndNowUKnow will continue to report on Whole Foods as it brings these extensive plans into fruition throughout 2016 and beyond.
NEW YORK CITY, NY - Envy apples are painting the famous New York City Times Square, with messages flashing across billboards of one of the most famous advertising strips declaring “Join the Feeding Frenzy” and “The Next Big Apple.”
“The crowd got so large that the local police came by to ensure it moved along,” James Milne, Oppy’s Executive Director of Marketing, said in a press release. Curious onlookers crowded Washington apple growers as they passed Envy apples out beneath one such billboard, causing quite a stir.
Ironically, Oppy said, the rotating billboard read “Envy - Call Crowd Control” at the time police responded. “We rewarded the officers with Envy apples for their efforts, and all had a good laugh at the irony when we looked up at the billboard,” Milne said.
The high impact, dual-screen messages started to flash across the boards of the historic district in November, looking to engage the eyes and mouths of 1.5 million daily visitors.
“It has been a tremendous success,” David Nelley, Executive Director for Oppy’s apple and pear categories, said, according to the release. Oppy is the exclusive marketer of Envy apples in North America. “We decided to have a lot of fun with playful headlines, positioning Envy as the next big apple in one of the most iconic neighborhoods in the world—with messages targeting visitors and locals alike.”
The billboards will continue to engage consumers in Times Square until the ball drop on New Year’s Eve, and Nelley explained that the Washington Envy growers traveled to New York City to sample at key retail outlets. “Our customers built great displays, and shoppers loved meeting the growers and learning more about where the fruit comes from. Social media outreach created buzz around the apple, the demos, and the contests were underway.”
As for passing the apples out under the billboard, Nelley estimated about 700 were distributed in less than four hours. “The apples generated loads of excitement, especially when people connected them with the billboard.”
Overall, Nelley noted that the response has exceeded his expectations, saying that a consistent message spread across trucks and billboards has helped spread awareness of the Envy apple and build fun relationships with retailers.
Oppy has placed Envy billboards in other major markets, including Chicago, Kansas City, and Des Moines, promoting awareness for the brand in time for the expected production lifts of 2016 and 2017.
DONNA, TX - Several states have seen a tumultuous two days of weather patterns, with tragedy having struck Texas just north of Dallas after experiencing nine different tornadoes.
“Northeast Dallas had multiple tornadoes, and in west Texas there’s been 14 to 18 inches of snow and 40 mph winds,” Tommy Wilkins, Director of Sales for Grow Farms Texas, tells me.
While it has been a tragic report from the areas hit the hardest, with CNN reporting 11 fatalities in the Dallas area and significant structure damages, the south felt harsh winds that its leafy greens aren’t used to seeing.
“Here, all the weather dynamics are converging,” Tommy said, explaining that after seeing 90 degree weather on Thursday the area was hit with 40 to 50 mph winds, causing some damage to the leaves. “It’s going to take a couple of days to see how much damage there really is, but mostly it's to the leaves from those winds.”
The area is currently growing leafy greens, cabbage, chards, beets, and cilantro, and while the wind caused damage to the leaves it also brought a blessing: cooler weather.
"The cilantro, chard, and other tender greens aren’t used to that strong of wind down here for multiple days so there is damage to the leaves, but the cooler weather is good because it was really too hot and burning down here,” Tommy said.
South Texas is currently expected to see temperatures in the low 60s, high 50s and rain in the next couple of days, even with lows in the mid 40s this weekend, according to the Weather Channel.
Other states that are combating Mother Nature include New Mexico, Michigan, and Georgia, which CNN reports have all seen a broad mix of weather ranging from tornadoes and flash floods to blizzards and freezing rain. Missouri and Illinois have experienced dangerous flash flooding and continue to be on watch.
Texas Agriculture Commissioner Sid Miller released a statement addressing the blows Mother Nature has dealt to the state, announcing that relief resources are available through the Texas Department of Agriculture (TDA) to rural communities, farmers, and ranchers who have been impacted by the recent severe weather.
“Texans are no strangers to extreme weather, and time after time, we pitch in to help our neighbors when Mother Nature throws us her worst. Whether through the STAR fund or any other reputable charitable organization, I encourage all Texans to lend a hand to those who have been affected by this storm,” Commissioner Miller said in the release. “TDA is committed to providing any assistance we can, and our prayers remain with the families who have lost so much, our first responders, and everyone who is beginning to rebuild after this terrible storm.”
Fortunately, though aid continues to be available to those who need it, the TDA reports that no requests for food assistance have been received as of yesterday afternoon.
AndNowUKnow will continue to follow any and all weather patterns in Texas and beyond as they potentially impact the produce industry.
LA CAÑANDA FLINTRIDGE, CA – Continuing its yearly tradition of participating in Wreaths Across America, Allen Lund Company rolled out its ambassador Big Al to offer its respects to the country’s veterans.
Traveling from Harrington, Maine to the Arlington National Cemetery from December 5th to December 12th, the Allen Lund Company assisted Wreaths Across America in distributing nearly one million wreaths to cemeteries nationwide this year alone.
Over 75,000 observers participated in the placement of the wreaths. Approximately 225,000 wreaths were placed at Arlington, while an additional 700,000 were distributed to cemeteries across the country.
Bill Bess, Allen Lund Company’s Director of Carrier Development, said that participating in Wreaths Across America was one of the most memorable events that he has ever experienced.
“It is impossible to express the feelings, appreciation, and emotions that all of us witnessed as our caravan traveled from Harrington, Maine to the Arlington National Cemetery,” said Bess. “We participated in 37 memorable events along the way involving thousands of Americans demonstrating their appreciation to all the veterans that have in past and current generations protected and preserved our freedom.”
This is the eighth consecutive year that Allen Lund Company has participated in this event. Since its humble beginnings in 1992, Wreaths Across America has culminated in over 150 wreath laying ceremonies held nationwide. That number continues to grow with each passing year.
IMMOKALEE, FL – Lipman is partnering with Blackville, South Carolina-based company Phil Sandifer & Sons to expand its local portfolio.
Sandifer & Sons is a third generation produce farm that is overseen by Phil Sandifer and his two sons, Chris and Scotty, with the assistance of the grandchildren during school breaks. Both Lipman and Sandifer & Sons will work together to supply locally grown South Carolina produce to grocery stores, food service operators, and other companies around the country.
“Partnering with Lipman was a perfect fit for us,” Phil Sandifer said in a press release. “Our company values are very similar. We both take tremendous pride in food quality and safety, as well as providing our customers with the freshest and best tasting produce available.”
Known as one of the largest Eastern Athena cantaloupe growers, packers, and shippers in South Carolina, Sandifer and Sons’ has a full portfolio that also includes Caribbean King cantaloupes and mini personal seedless watermelons, and vegetables in the spring and fall.
Both companies are excited to kick-off their partnership and look forward to a productive year ahead.
SAN BERNARDINO, CA – Pete Van Helden, a 38-year retail veteran and President and COO of Stater Bros. Markets, has ascended to the role of President and Chief Executive Officer. The appointment will be made effective January 4, 2016.
Van Helden succeeds Jack H. Brown, who will become the Executive Chairman of the Board. Over the past 36 years, Brown has led the company as its Chief Executive, steadily growing the business as one of the largest privately owned supermarket chains in Southern California. Van Helden's success and knowledge from previous executive positions will be key in paving a bright future for this retail company.
Prior to joining Stater Bros., Van Helden was the Executive Vice President of Retail Operations for Supervalu. Early on in his career, starting in 1977, Van Helden worked as a Courtesy Clerk for Rosauers in Libby, Montana. In the following year, he joined Albertsons as a Clerk. He later went on to serve a number of other leadership positions in the retail industry.
“Pete is well-respected and will do an outstanding job as President and Chief Executive Officer,” said Brown.
Van Helden holds a Bachelor of Science Degree in Business Administration from University of Phoenix. He also serves as Vice President of Stater Bros. Charities, according to a press release.
Stater Bros. currently operates 168 supermarkets and employs over 18,000 members.
SALINAS, CA - Church Brothers Farms is supporting its growing partners in Mexico by supporting more than just the agriculture.
The company has donated funds to a school in need that is located in Guanajuato, a growing region of Central Mexico, where it has held a partnership for more than five years.
“When we saw the children and the school, this was simply something we had to do,” Brian Church, Vice President of Ag Operations, said in a press release, adding that giving back to the communities it does business in a practice and belief Church Brothers holds.
In fact, the company supports its local partners in all areas that it does business. “It makes for a nice story for the holidays, but it’s something we do all year-round,” Church said.
This school’s needs in particular were brought to the company’s attention by its five-year-long partner Alvaro Nieto, a Mexico-based grower that participates in sustainable environmental farming practices and runs a social responsibility program locally.
“We worked with Alvaro for five years and welcomed the opportunity to give back through the program he leads,” Church said.
Church Brothers said in the release that its operation in Mexico is part of a larger strategy to provide year-round supply, holding the same standards for food safety and social responsibility in Mexico as it does in the U.S. The company grows a variety of vegetable crops in Guanajuato and has a food safety team there to enforce identical standards to the United States, in addition to third-party auditors.
While it is always a comfort to report stories containing the giving spirit around the holiday season, it is even better to hear that it is a year-long practice. Keep checking in with AndNowUKnow for news on both supply and support in the industry.
WENATCHEE, WA – For the third year running, Stemilt is honoring its tradition of giving back to local foster children for the holidays.
Employees and growers alike from the tree fruit company joined together to give 159 children in foster care in central Washington gifts from their holiday wish list. Stemilt also donated additional funds for prizes to give children during the annual foster care family holiday party.
“Our generous employees and growers were thrilled to help put a smile on the faces of nearly 160 local children this holiday season,” said Courtney Mathison, Chair of the Community Investment Committee, the organization that put together the donation effort.
These children, ranging in age from 0-18, are under the care of one of two organizations: Washington State’s Division of Child & Family Services in Wenatchee or the Community Resource Group of Wenatchee/Yakima. Both organizations were pleased and grateful for the support Stemilt has shown them during the holiday season.
“We have more children in foster care in central Washington to support this year, and the continued generosity of the Stemilt team to provide each one with one of their holiday wishes is an incredible blessing for our two organizations,” said Owens Barrios, Program Manager for the Community Resource Group.
Marie Scanlon, the Family to Family Program Consultant for Wenatchee’s Division of Children and Family Services, added: “[Stemilt’s] generosity helps provide a better Christmas experience for the kids and is a huge support to foster families.”
The holidays may have come and gone, but looking back, it’s great to see companies like Stemilt giving back as part of its yearly tradition.
SAN JOAQUIN VALLEY, CA - Hard freeze warnings rippled through California’s San Joaquin Valley during Christmas week, putting citrus growers on alert.
Fortunately, however, while cooling temperatures continue, California Citrus Mutual said that the area continued to celebrate the holidays on a good note with no hard freeze occurring.
“Overall, conditions were ideal on Christmas night for the Valley's citrus crop,” the association reported in a press release, emphasizing that while weather stations told of temperatures hovering in the low 30s and upper 20s in some areas, durations at these low temperatures were very short and can be withstood by most citrus varieties with provided protection by water and wind machines.
Temperatures stayed above critical lows throughout the celebrations, with some areas of Kern County even reporting low temperatures in the 40s.
The Weather Advisory Service continues to keep the valley on alert, however, stating that lows could fall into the mid 20’s Tuesday through Thursday of this week and into next.
“A low pressure trough could move through Southern California Monday-Tuesday, Jan 4-5th. A more northern track of this trough could produce significant rain to the southern half of the valley,” the weather outlook states in regards to the first week of the new year.
AndNowUKnow will continue to keep a beat on the progress of the season as weather patterns continue to develop.