DUBLIN, IRELAND - Total Produce’s strategic acquisitions and steady performance results in the first half of 2014 in a less than favorable market is leading to a positive outlook for the rest of the year.
“The Group’s growth will continue to be driven by successful acquisitions. Total Produce has recently agreed to acquire the final 50% of All Seasons Fruit in The Netherlands and continues its expansion in North America with the acquisition of a 45% interest in Eco Farms in California,” said Carl McCann, Total Produce Chairman.
The Group has invested over €9 million including contingent consideration payable on the achievement of future profit targets. It acquired a 45% interest in Eco Farms Investments Holdings LLC, the California-based avocado grower, marketer and distributor. Total Produce still has the option to acquire further shares in Eco Farms which could give it a majority stake.
“Total Produce has recorded a robust performance in the first half of 2014 when measured against a particularly strong comparative period in 2013. The group continued to record volume growth in 2014 although average prices decreased in the period. We are pleased to report a marginal increase in adjusted earnings to 4.86 cent per share,” said McCann.
Greater production and excess supply in some key produce lines led to downward pressure on prices in the period in the six month period. The like-for-like basis, excluding the effect of divestments, acquisitions and currently translation, total revenue of €1.59 billion was 1.7% lower with some volume growth offset by average price decreases.
The Group saw an exceptional gain in the period of €2.5m due to a fair value uplift in an equity interest and a 5% increase in the interim dividend to 0.64 cent per share.
Other notable highlights from the Group’s financial report include:
- Revenue (1) of €1.59 billion
- Profit before tax up 5.7% to €24.2m
- Adjusted earnings per share (1) up 0.4% to 4.86 cent
- Adjusted EBITDA (1) down 2.7% to €38.1m
- Adjusted EBITA (1) down 3.7% to €30.2m
- Adjusted profit before tax (1) down 4.6% to €27.2m
- Interim dividend increased by 5.0% to 0.64 cent per share
Good job of the first half of the year, Total Produce!
TEWKSBURY, MA - Somewhat lost in the controversy which has raged over the previous months between Arthur T. Demoulas and his cousin Arthur S. Demoulas, is the fate of the 5 planned Market Basket stores in Revere, Waltham, Athol, Littleton and Attleboro whose launch date has been thus far delayed. According to CEO Arthur T. Demoulas, this delay could extend well into the future as the retailer works to restore its existing stores to 100% operating capacity after the lengthy boycott.
When new store openings do come, a statement by Arthur T. on CBS Boston suggests that the Revere store location is likely to be the first.
“We would like to think that at least two of those five stores will be able to get open before the year's end,” Arthur T. said. “Most likely the Revere store will be first on that list.”
For now, however, Market Basket's primary focus is on its existing store locations, which are currently about 75-80% stocked, according to the CEO.
“Our 100% focus on this moment is to get these [existing] stores restocked with fresh foods, particularly perishable foods, produce and seafoods,” explained Market Basket's Operations Manager David McLean to the Boston Globe.
Echoing Arthur T. Demoulas, McLean did state that expansion was still “on the radar” for the long term for Market Basket.
Stay tuned to AndNowUKnow for any future Market Basket updates as the story breaks.
WASHINGTON, D.C. - Two PACA violators in Florida and Utah have been restricted from operating in the produce industry, according to a press release.
Wing On Food Inc., a West Valley, Utah-based company, failed to pay a $14,796 award in favor of a California seller. Chun S. Tseung was listed as the Officer, Director, and major stockholder of the business.
Florida Fresh Tropicals LLC, a Miami, Florida-based company, failed to pay a $183,726 award in favor of a Florida seller. Jesse J. Fernandez was listed as a member of the business.
In the past three years, the USDA resolved approximately 4,600 claims under the PACA involving more than $87 million. Individuals, including sole proprietors, partners, members, managers, officers, directors, or major stockholders may not be employed or affiliated with any PACA licensee without the approval of the USDA. The Agricultural Marketing Service (AMS), PACA Division, regulates fair trading practices of produce businesses operating subject to PACA.
NEW KENSINGTON, PA – Yerecic Label has revamped its branding to accurately reflect its mission and the fresh industries it serves. The company has rebranded with a new tagline, website and logo.
“Since Yerecic Label opened in 1969, we have focused on serving supermarkets and perishable suppliers,” said President Art Yerecic. “Perishable departments are full of vibrant colors so it made sense for us to reflect these industries with a light and bright style of our own.”
Yerecic kicked off the rebrand with the launch of its new website. It features easier navigation that allows buyers to look at labels and product lines that are specific to their department, according to a press release. Check out the website by clicking here.
The new tagline is: Entice. Inform. Inspire. These words showcase what Yerecic’s labels do for shoppers as well as what differentiates the company from other label manufacturers, according to a press release.
“The labels entice shoppers to learn more about your product through appetizing photos and eye-catching designs,” said VP of Sales and Marketing Rich Thoma. “By investing in consumer research, Yerecic knows what information consumers want on-pack such as step-by-step recipes or storage information. The visual appeal and relevant information inspires shoppers to think ‘this is dinner tonight’…putting your product in their cart.”
Keeping the electric blue box that Yerecic is known for, the company has also simplified its logo to have a lighter feel.
With this fresh rebranding, Yerecic looks like it's poised for the future!
UNITED STATES - The most common piece of advice anyone can give you regarding Internet security is to create a better password by using a combination of letters, numbers, and symbols, but what if that’s not enough? If you’re like me and want to make sure your data is as safe as possible, there’s a neat security option you can enable across popular websites and services called two-step verification.
Two-step verification sends a code via text message or e-mail whenever you or someone else tries to log into your account from a new device. You’ll be able to gain access to your account only after entering the code, even if the password was correct. Here’s how you can keep hackers out of your accounts. It’s simpler than you may think!
Google/Gmail
Click on your name or picture on the top right of your Gmail page, and then click Account. Under the Security tab, click Setup next to “2-Step Verification.”
For added convenience...
Google also offers an app called Google Authenticator that generates two-step verification codes directly on your phone. It automatically cycles through randomly generated codes, so waiting for text messages or e-mails is no longer required! You can download it from the App Store (iPhone) or Google Play (Android).
Apple ID/iCloud
Go to MyApple ID, and then select Manage Your Apple ID. Click Password and Security, and then Get Started under Two-Step Verification.
You can also see what data is being shared over iCloud. On your iPhone, tap on Settings and then scroll down to iCloud. From here, you can enable or disable what data you want to share and backup digitally.
Under the drop down menu on the top right, click on Settings. Under Security settings, click on Edit in the “Login Approvals” section. Check the box that says, “Require a security code to access my account from unknown browsers,” and then hit “Save Changes.”
Go to Settings, and then select “Require a verification code when I sign in.” After that, just add your phone number and you’re good to go.
Dropbox
Go to Settings. Under the Security tab, select Enable under “Two-step verification.”
Microsoft
Sign into your Microsoft account here. Under Security & Password, scroll down and click Set Up Two-Step Verification.
PayPal
Click on My Settings under Profile. Under Security Key, hit Get Started to either order a physical security key you can carry around for about $30.00 or a digital security key for free.
You might have the best password in the world, but it’s always nice to have that extra layer of security. Try it out!
VANCOUVER, BRITISH COLUMBIA – The British Columbian Blueberry Council is making its debut at this week's Asia Fruit Logistica tradeshow in Hong Kong in order to identify and work with new international customers.
"British Columbia is now the largest highbush blueberry growing region in the world, so it's essential that we source new markets for our berries," said Debbie Etsell, the B.C. Blueberry Council's Executive Director. "In addition to our domestic marketing program, we head to Japan, China, the US and Europe each year, and the high-quality of our fruit has given us a strong foothold in those markets. This is the first time that we've been to Asia Fruit Logistica, and we think this could be a fantastic opportunity to develop relationships with new Asian customers that previously haven't had the chance to try B.C.'s blueberries."
According to a press release, only half of British Columbia's 55 million kilograms of production is consumed domestically. This creates the opportunity for a very robust export market for the region's 800 growers, packers and processors, one which the Blueberry Council plans to build upon at this year's tradeshow.
The British Columbian Blueberry Council also attended the Gulfood tradeshow in Dubai for the first time earlier this year along with the FoodEx in Japan. It also plans to exhibit its produce at the SIAL Paris food tradeshow later this fall.
SAN JUAN BAUTISTA, CA – Earthbound Farm officially kicked off its 30th birthday celebration on September 1 with the launch of the “Eat What You Are” online salad quiz.
“Eat What You Are” celebrates the personality pillars, or “Salad Signs,” of Earthbound Farm founders, farmers, employees and customers. The signs are Innovator, Champion, Nurturer and Explorer, and people can discover their own Salad Sign with an online quiz. Participants who take the quiz will be entered to win a limited-edition reusable shopping bag and other “mystery” prizes through the month, according to a press release.
Let us know what your Salad Sign is by voting on the survey at the bottom of the page!
“Thirty years of organic farming is a big milestone, one we couldn’t have achieved without the hard work and support of our founders, farmers, employees and customers,” said Samantha Cabaluna, Vice President of Communications and Marketing, Earthbound Farm. “Among them are Innovators, Explorers, Nurturers and Champions – like me. And we’re excited to celebrate them all.”
At the end of the 30-day campaign, the nationwide quiz results will be compiled to reveal how these traits express themselves across the U.S. In addition to prizes, participants will also receive a downloadable commemorative Salad Sign art card with one of the following Salad-in-a-Jar recipes that corresponds to their sign:
- The Innovator: Farro Salad with Arugula Edamame & Tomato Vinaigrette
- The Champion: Power Summer Salad with Blue Cheese Vinaigrette
- The Nurturer: Roasted Beet Salad with Walnuts & Feta Cheese
- The Explorer: Soba Noodles with Peanut Dressing
To learn more about all of Earthbound’s exciting firsts, insights and milestones, visit the company's interactive timeline by clicking here.
Let us know what your Salad Sign is by voting below!
Happy 30th Birthday, Earthbound Farm!
ASKER, NORWAY - TOMRA Sorting Solutions has announced that it will be updating its website to allow the company to better connect with European clients by adding new German language support features. German speaking clients can now restrict language features and conduct searches to find the available information in their preferred language.
TOMRA says that the impetus for this update was a desire to work more closely with its customers. According to a press release, it is a top company priority to serve its clients in their own language and to that end TOMRA plans on continuing to invest in translations, adding many more languages by the end of the year.
These new online service features come on the heels of an important facility expansion which TOMRA undertook early this summer. AndNowUKnow previously covered how the company had opened a new state-of-the-art facility in West Sacramento late last June in an effort to better serve its US clientele.
Despite being geared at different countries, the theme of both initiatives remains the same: increased service and dependability for TOMRA's customers, two themes which I have learned are top priorities for the decision makers behind the company.
Stay tuned to AndNowUKnow for any further updates on TOMRA's future operations.
GLENDALE, WI – Maglio & Company has announced that Robert Wilkinson will be joining its sales team as the new Regional Sales Manager. In his new position, Robert will be working to grow Maglio's customer base as well as providing training to strengthen the sales team.
“Joining Maglio & Company will provide me with the opportunity to work with a diverse customer base,” Robert shared. “I’m looking forward to teaching and working with sales representatives and distributors.”
“Robert will be a great addition to our team as Regional Sales Manager,” said Sam Maglio, President of Maglio & Company. “His vast experience in the produce industry will lend nicely to our team. His addition will strengthen our commitment to innovative produce solutions.”
According to a press release, Robert has been working in the produce industry for over 15 years in a wide range of positions in foodservice, wholesale, and retail.
Congratulations on the new position, Robert!
Reinhart Foodservice has been featured in the latest edition of AndNowUKnow’s print publication, The Snack Magazine. Coming off of 2013 Vendor of the Year Awards and a Distributor of the Year Award, the company’s Director of Produce Category Management, Rob Ondrus, and Vice President of Category Management, Dean Hogan, discuss what Reinhart has in store for the future and how it laid the foundations for future growth.
Check out The Snack article by clicking here, or read the full text below:
Ready, Set, Grow.
What once was a successful regional distributor in the upper Midwest is now a national player with a respected stage presence – making the big boys look over their shoulders at the nation’s fourth largest distributor. With 31 divisions covering the eastern half of the United States and $7 billion in volume, Reinhart Foodservice’s “push” is just getting started. And this should be a fresh bit of news for restaurant operators.
As Reinhart continues market penetration at its distribution centers, the company is focusing on adding value to operators and going beyond the case delivery. Reinhart has a more focused approach on helping operators grow their business through managing food costs, improving operations, marketing their business, and category management that addresses the needs of its operators.
With a dedicated sales force entrenched on the ground, Reinhart is able to stay in tune with its customer base, which in turn strengthens relationships with local and regional suppliers whose needs fit Reinhart’s and vice-versa.
Producing the Connection
“The industry is heading into uncharted waters; you can’t be everything to everyone,” says Rob Ondrus, Director of Produce Category Management at Reinhart. “We offer a different value from the larger foodservice companies, but at the same time we’re bigger than the smaller ones.”
Reinhart prides itself on its efforts of maintaining regionality at the division level with national buying power, differentiating it from other distributors. Because of this, Reinhart folks can penetrate accounts with a focus on their menu, rather than the distributors’ assortment. Year after year, this strategy is continuing to push the company to new heights. Reinhart has seen its volume more than triple since being acquired in 2005 by Reyes Holdings, L.L.C., a global leader in food and beverage distribution and 11th largest private company in the United States.
The growth is evident in its latest category management initiative: Ondrus and Reinhart have officially kicked off their new produce packing brand, Good Roots™, looking to make a bigger splash in the industry in the category. This keeps in line with its local touch, and emphasizes freshness, flexibility, and quality above all else. Good Roots™ tries to stay as close as possible to the source of the product for optimal shelf life.
“The function of Good Roots™ is to allow the company to fulfill the fast moving needs of the operators, making sure they receive the precise size they need, when they need it. Good Roots™ is inherently more local than the competition just because it makes flexibility and freshness a priority for operators,” says Reinhart’s Vice President of Category Management Dean Hogan.
Although Reinhart hasn’t yet opened the floodgates on this new produce brand, the company is moving forward with a strategic approach and is aligning with incumbent suppliers. Good Roots™ is just one of many ways the company is staying relevant in this growing industry.
Trailblaze with Technology
One of Reinhart’s biggest competitive advantages in the foodservice industry is its innovations in technology. Take for example Markon®’s Produce Guide; Reinhart has closely aligned with Markon to offer a smartphone application that lists flavor profiles, texture descriptions, pairing ideas, and substitution suggestions for anything and everything produce, from the familiar to the exotic.
Additionally, Reinhart’s next-generation TRACS® Direct online system helps customers take control of their food costs by helping them manage operations and budgeting. The customized tool includes product order entry and tracking, comprehensive recipe management and menu planning, robust reporting and instant analysis of purchase history, all linked to a fully integrated database. The tool ensures that menus are developed with unique impact and flavor and adheres to customers’ nutritional demands. Overall, it’s a financial tool for the operators to manage all aspects of their business as well as offering them the flexibility to order all of their products direct from Reinhart. Be on the lookout for the company’s TRACS® Direct To Go app on the Apple® iTunes Store, bringing the experience to smartphones.
“We’ve also developed internal systems so we can be a better partner to our suppliers,” Hogan says. “We want to provide our suppliers access to data, insights, and customer details in a more approachable way.”
Staying One Step Ahead
With such success in the industry, there’s no telling what’s ahead for Reinhart’s future. The company is certainly being recognized in the industry. In 2013, Reinhart was named Vendor of the Year by fast casual Mexican restaurant, Pancheros, as well as Subway® and Popeye®’s 2013 Distributor of the Year. The question is: Could Reinhart grow bigger?
“Who knows?” says Hogan. “Our focus is on organic growth right now. If opportunities come up for expansion, I am sure that we will consider them.”
“If we want to grow, we need to stand by our values and what we believe in,” Ondrus adds.
There’s a reason why Reinhart has been able to carve a legacy in the foodservice-distribution industry. By providing suppliers with the ability to make knowledgeable choices and staying relevant, Reinhart has built numerous long-standing relationships that speak to the company’s core values of service, integrity, and leadership. There’s more to great food than choice alone. Reinhart goes beyond providing customers with just fresh produce and restaurant supply needs. With comprehensive technology, advances in food safety and product offerings, Reinhart is staying on top of its game. While relying on choice will serve the company well in the future, Reinhart’s ability to stay relevant in an ever-changing market is testament to the strength of the business.