TORONTO, CANADA - Scout Logistics Corporation has announced the promotion of Ryan Kern to Vice President of Sales for its West Coast operations.
"I am excited to take on this opportunity and increase Scout's presence in the West Coast – US market,” Ryan said.
An over 15 year veteran in the field, Ryan will now oversee Scout Logistics' future sales growth with an emphasis on loads transitioning from the Western United States to the major North American international produce hubs, according to a press release.
"With Ryan's new position, Scout is looking forward to continued growth and a renewed focus on Western growing regions," said Lorne Swartz, President of Scout Logistics Corporation. "He is well known and respected in the industry and his outstanding ability to manage both client and carrier needs seamlessly, only strengthens our position in this market. His promotion is well deserved and is a result of his hard work and outstanding contributions to Scout's exceptional growth."
According to a press release, before this latest promotion, Ryan spent 3 years with Scout Logistics as its Sales Manager for California Freight, where he lead his team to record sales numbers during 2013.
Congratulations on the new position Ryan! I'll be looking forward to reading about your early successes in Scout Logistics' next press release.
JAPAN - Nichimo International is introducing two new mechanical slicers to its existing line of Seven Chefs commercial grade products. The ECM-200 and ECM-200T promise to increase efficiency by eliminating waste and decreasing product preparation time.
Nichimo describes the ECM-200 as a belt-fed slicing machine featuring an exit conveyor to protect the structural integrity of the finished product. Because it is able to slice a product while maintaining its original shape, the ECM-200 is excellent for delicate, traditionally cut-by-hand products such as fresh mozzarella or tofu. Nichimo has designed this product to make disassembly and cleaning quick and painless. The conveyor belts and blades can be totally removed and put back together in about 3 minutes according to a press release, allowing for fast transitions between numerous products.
Nichimo highlights its second new machine, the ECM-200T, as a versatile, dynamic slicer able to dice, slice, or make slit cuts depending on the needs of the user . The slicer has two round blades facing the same direction as its belt along with a crosscut blade, allowing for slab cuts, slices, and stick cuts, but it is also able to dice products such as peppers and onions if needed. The ECM-200T was designed with the same quick change and cleaning features possessed by the ECM-200.
As shown on Seven Chefs' website, both machines will feature a digital command screen using Nichimo's Touch Liquid Crystal technology as well as memory stores able to hold up to 5 presets, allowing for quick changes between settings. Error messages have also been streamlined and made easier to read and respond to.
According to a press release, these products will join the existing Seven Chefs line, featuring Seven Chef's versatile slicing machine, the ECD-202, its larger counterpart, the ECD-302, as well as its precision dicing cutter, the DC-202.
GONZALES, CA – Misionero Vegetables has added new Peel and Reseal lidding film, offering consumers the power of choice.
“We have been working on this new technology for over a year. The lidding film eliminates the need for a top lid and shrink band which has helped reduce plastic by 20%. Less plastic means less waste in our landfills. Our customers now have the power of choice…they can choose our new peel and reseal technology or continue to order our current packaging options,” said Misionero’s Dan Canales.
The Peel and Reseal technology offers:
- Effective use of retail shelf space
- Easy, open container
- Quicker access to produce
- Flexible closure with ability to reseal multiple times without loss of functionality
- Reseal-ability consumer uses what they need and simply reapply film
- Environmentally friendly packaging… Less plastic, less waste in landfills
This new innovation also features a tamper evident seal to boost consumer confidence in the integrity of the packaging. The Peel and Reseal technology can be found on Misionero’s Garden Life Washed and Trimmed Lettuce and Misionero Earth Greens Organic Salads.
The Peel and Reseal film is now available nationwide.
OAK BROOK, IL - McDonald's and Sun Pacific, the maker of the iconic Cutie oranges, are entering the final stages of an agreement which would makes Cuties the latest fresh addition to McDonald's line of Happy Meal lunches.
Earlier this year AndNowUKnow covered how McDonald's was testing Cuties in its restaurants in Austin, Texas.
That test campaign must have been a hit because the Bakersfield Californian reports that McDonald's is now intending to roll out Cuties in Happy Meals nationwide from November through March.
"I think it's great on so many levels," said Julie Lucido, CEO and Art Director of Marketing Plus. "The Cuties people have to be excited."
When McDonald's introduced apple slices into its Happy Meals in 2012, it sold 850 million bags, according to the Californian. While neither McDonald's or Sun Pacific have released numbers on what a Cuties partnership could mean for sales, the sheer brand awareness and market share of McDonald's could mean big things for Sun Pacific's future profits.
In addition, the Bakersfield Californian shared that a McDonald's partnership could raise the possibility of an expansion for Sun Pacific's growing operations, making Cuties a year-round offering for consumers.
Customers will also have the option of buying a Cutie a-la-carte as an additon to any McDonald's meal.
It's good to see McDonald's offering its customers more fresh selections. A Cutie and burger sound like a fine match to me.
VENTURA, CA – LINKFRESH is launching its new LINKFRESH ERP suite on Microsoft Dynamics NAV.
This latest release enhances productivity and efficiency for food supply chain users with four new LINKFRESH User Role Centers, LINKFRESH RapidStart, LINKFRESH Business Intelligence, LINKFRESH Farming Module, enhancements to the LINKFRESH Mobility suite and integrated LINKFRESH Help Screens, according to a press release. The new product is officially “Certified for Microsoft Dynamics.”
The four new User Role Centers have been created for LINKFRESH Foundation, LINKFRESH Operations, LINKFRESH Logistics and LINKFRESH Integration Manager. They have been designed to help increase user productivity by offering the user real time snapshots of all data and operational information pertinent to each of these four key areas on one screen, according to a press release.
The LINKFRESH RapidStart data packages offer a series of pre-defined questionnaires specifically to help configure and set-up the specific food industry features within LINKFRESH.
Another new feature, LINKFRESH Business Intelligence, offers pre-configured dashboards and reporting scenarios for real time analytics related to a food business across Production, Inventory and Consignment Profitability, according to a press release.
The LINKFRESH Farming Module accurately records all costs and overheads associated with crop growing and harvesting. “Resources such as labor and machinery can be allocated to a “Job” and the associated costs tracked and recorded against inventory value. Job templates can be created to facilitate the rapid creation of frequently occurring tasks,” the company says in a release.
The LINKFRESH Mobility Suite has been upgraded with new features like a barcode test scan tool, debug facility, Bluetooth printing, a screen alignment tool as well as enhancements deigned to streamline deployment.
Lastly, integrated LINKFRESH Help screens have been added and are accessible from every section of the LINKFRESH solution via the Microsoft F1 help command.
Congratulations on the new product release, LINKFRESH!
CHARLOTTE, NC - The Cutrale Group, one of the leading global agribusiness and juice companies, and the Safra investment group extended a $610.5 million buyout offer to Chiquita Brands Monday morning, throwing question marks into its proposed merger with Fyffes. According to a press release, the official offer would involve a purchase of 100% of Chiquita's outstanding stock at a price of $13.00 per share in cash to stockholders.
In a letter to Chiquita executives, Cutrale and Safra spoke confidently about the strength of their offer.
"This proposal represents a highly compelling premium of 29% to the market's valuation of the proposed transaction with Fyffes plc ("Fyffes"), based on Chiquita's closing share price of $10.06 as of August 8, 2014,” the statement read. “Moreover, if we are able to proceed on a timely basis with due diligence and discussions, we will be in a position to close the Transaction before the end of the year, within the same timeframe you have indicated for the Fyffes transaction, without the execution risk and uncertainty inherent in that transaction.”
If Chiquita were to accept this offer it would mean the end of its plans to merge with its Irish rival Fyffes, plans which AndNowUKnow reported on in a previous article here. That transaction, valued at $1.07 billion, would have given ChiquitaFyffes 14% of the global banana market share.
Cutrale and Safra are confident however that their proposal more than exceeds what Chiquita would gain from a merger with Fyffes, stating “... the Chiquita board of directors, in our opinion, must and will conclude in good faith that our proposal constitutes a "Chiquita Superior Proposal" because it is clearly more favorable to the Chiquita shareholders than the proposed merger with Fyffes, taking into account all financial, regulatory, legal and other aspects of our proposal.”
Chiquita's stock boomed in the wake of the news, rising 31.11% to $13.19 during Monday morning trading (as of 9:34am on August 11th, 2014).
Stay tuned to AndNowUKnow for any further updates on Chiquita's future merger or acquisition plans.
DENVER, CO - The future of Chipotle's stock was the subject of heated debate during Friday's trading after Longbow Research downgraded the company from “buy” to “neutral,” citing valuation concerns according to The Street. Produce leaders will want to follow this debate closely because stock pricing is a leading indicator of consumer confidence in the future of a company. Considering that Chipotle plans on purchasing over 20 million pounds of fresh produce from local growers in 2014, the produce industry certainly has a financial stake in Chipotle's future growth and success.
For more on Chipotle's connections with local growers check out our previous article here.
So what does the future hold for Chipotle's stock? On this question industry experts are divided.
At the heart of this division is the fact that Chipotle's fundamental economic numbers are actually quite strong. Chipotle's Q2 financial reports, released on July 21st, 2014, beat analyst's expectations across the board.
Revenue increased 28.6% to $1.05 billion
Comparable restaurant sales numbers were up 17.3%
Net income rose 25.5% to $110.3 million
Restaurant level operating margin fell 30 basis points to 27.3%
Diluted earnings pers share grew 24.1% to $3.50.
Chipotle is thriving right now and this is what Mike Murphy, founder of Rosecliff Capital and CEO of Columbus Advisory Group, looked at when he stood by his positive valuation of Chipotle going forward.
“It's priced at a high multiple yes, but they're doing everything right. You go into a Chipotle and it is packed at all times...they're seeing strong growth,” he said. “Tough to buy it up here at these levels, but I am a frequent customer.”
Investment analysts at The Street agreed, giving Chipotle a “Buy” rating with a stock score of A-.
“We rate CHIPOTLE MEXICAN GRILL INC (CMG) a BUY,” their statement read. “This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance, impressive record of earnings per share growth, compelling growth in net income and good cash flow from operations.”
Others however point at the sheer price of Chipotle's stock which, as of the end of Friday's trading session, was trading at $669.70 as a sign that the company's fundamentals, even while robust, are simply not strong enough to support a valuation of that magnitude long term. Joshua Brown, CEO and co-founder of Ritholtz Wealth Management, championed this point of view in his own analysis.
“Even the best companies...have a stumble at some point,” he said. “If Chipotle has a stumble the pain could be disproportionate with what the actual stumble is just because of how over-owned the stock is amongst the type of people that invest in these types of companies. So I think that it's a reasonable point to make that the upside versus downside if something goes wrong is terribly skewed towards losses rather than gains from here.”
Chipotle's forward-looking guidance looks strong however. According to its Q2 financial release, the booming chain plans on expanding operations by another 180-195 restaurants with comparable stores sales increases in the 'mid-teens.' While I appreciate the concerns of Brown and his associates, it is hard for me to not see this debate as an example of punishing a company for doing too well. Chipotle's fundamentals are strong, as are its forward-looking estimates. That is more than enough to make me optimistic about the company's outlook going forward.
As of the end of Friday's trading Chipotle's stock was down 0.32% to $669.70 per share. This morning trading was up 1.29% to 678.37 per share (as of 9:53am August 11th).
Stay tuned to AndNowUKnow for any future updates on Chipotle and its trading numbers.
TEWSBURY, MA - Market Basket's Board of Directors has made an offer to ousted former President and CEO Arthur T. Demoulas which would allow him and his entire former management team to rejoin the company. According to an official statement presented by the Board, the offer would not return Demoulas to his former role within the company; that position would remain with Market Basket's new co-CEO's Felicia Thornton and Jim Gooch. It would, however, place him in a position to help return Market Basket's normal business operations which have been so far halted by fervent protests by employees since his firing.
“Our goal is to move forward, while making sure associates and customers are taken care of,” the Directors explained in their statement. “Any delay to reaching agreement on this path forward simply harms associates, customers and the Company. It is time to move on.”
According to the statement, Arthur T. Demoulas has not yet responded to the proposal, but they are confident that a compromise can be reached.
“There is no reason to not meet in the middle,” the Directors said. “Mr. Demoulas gets his management team back in place, associates can get back to doing their job, customers can get back to shopping and the company gets the breathing room needed to create an orderly and productive way forward.”
This latest news comes against the backdrop of increasing pressure on Market Basket to make peace with Arthur T. Demoulas and the countless protestors supporting him. Boston.com covered how even Massachusetts Governor Deval Patrick has thrown his hat into the ring, releasing an official statement in which he pledge to do what he could to help settle the dispute.
“By any measure, the disruption caused by your recent change in CEO has gotten out of hand, and I am writing to urge you to find a prompt resolution,” Patrick wrote. “Your failure to resolve this matter is not only hurting the company’s brand and business, but also many innocent and relatively powerless workers whose livelihoods depend on you.”
Market Basket's Directors acknowledged the Governor's statement in their release, saying that they welcome the Governor's assistance in this matter and look forward to his support in “stabilizing the business for the benefit of all associates, customers, vendors and communities.”
Stay tuned to AndNowUKnow for any further updates on Market Basket and Arthur T. Demoulas' future with the company.
BERKELEY, CA - Grocery Outlet has attracted several private-equity suitors in potential billion-dollar sale, according to sources close to the Wall Street Journal.
WSJ reports that Bain Capital, Hellman & Friedman LLC and Roark Capital Group are all showing interest in the discount supermarket chain as it enters its second round of bidding in a sale process. Reportedly, suitors with first-round bids less than $1.1 billion were not brought back to the second round.
People familiar to the matter say that no corporate bidders currently involved in the process, and Grocery Outlet could sell for as much as $1.2 billion.
We previously reported that Grocery Outlet might be eyeing a sale. For that information, check out our previous article by clicking here.
Grocery Outlet offers a full line of grocery items, including fresh produce, frozen, deli and refrigerated, fresh meat, general merchandise, health and beauty, and beer and wine. There are currently more than 200 independently operated Grocery Outlet stores in Arizona, California, Idaho, Nevada, Oregon, Pennsylvania, and Washington.
Stay tuned to AndNowUKnow as we keep an eye out for any potential buyers.
WENATCHEE, WA – Stemilt has announced the release of a new Rushing Rivers label for its pear products, a name which highlights the company's ties with the two most world renowned locations for pear cultivation: the Wenatchee River Valley and Entiat River Valley in Washington State.
As a recent research study by SHS, FoodThink, revealed, 65% of modern consumers want to know more about where their food comes from. Stemilt hopes to respond to this desire with its new label and if you ask me, I think they've done so nicely.
“Consumers are looking for transparency when it comes to food and fruit, and our pears have a special story to tell,” Stemilt Marketing Director Roger Pepperl explained. “Our pear locales – the Wenatchee and Entiat River Valleys – are to pears what California’s Napa Valley is to wine. Telling consumers this story and delivering a premium eating experience through Rushing Rivers pears is a great way to build sales and repeat purchases around pears this season.”
“Pears are right at home in these two valleys,” Pepperl continued. “The hillsides protect our trees from the heat of the summer, keeping delicate pears cool and comfortable. Clean air draws down from the mountains through the orchards to keep air flowing through each tree, which results in cleaner fruit.”
The two Valley's have been the home of Stemilt and its long time partners, the Peshastin HI-UP Growers, for decades. After being harvested, Stemilt and HI-UP's pear crops are taken to state-of-the-art pear facilities in the region for processing.
“We grow, pack, and ship pears right in these famous pear districts. Stemilt and HI-UP’s strong alignment on pears gives us great packing flexibility and allows us to deliver fresh, flavorful pears to stores most months of the year,” said Pepperl.
According to a press release, HI-UP's two packing lines are located in Peshastin, WA while Stemilt’s Miller Street facility can be found in Wenatchee, WA. Stemilt's facility features two updated packing lines and ThermalTech Tarpless® ripening rooms for delivering ready-to-eat pears.
Stemilt encourages its retail partners to share the Rushing Rivers story with their shoppers. According to a press release, Rushing Rivers cartons can be used to build attractive displays which complement well with Stemilt supported promotions.
To raise awareness for their new label, Stemilt has created a page on its website devoted to Rushing River Pears as well as a video trailer that you can check out below:
According to a press release, Stemilt will also be promoting Rushing River Pears through social media and on its blog, The Stem.