SALINAS, CA - The results of this year’s Ag Against Hunger fundraiser “The New York Express” are in—Salinas companies and S. Katzman Produce earned a record $30,000 through New York’s Hunts Point Market.
Grower/shippers in the Salinas Valley donated pallets of fresh vegetables, that were then sold by S. Katzman Produce at New York’s Hunts Point Market. Sales of the produce totaled $14,720, with an additional donation by Katzman of $15,280, and all proceeds went to benefit Ag Against Hunger.
“It’s a tremendous opportunity to work with the grower/shipper community in the Salinas Valley to help raise money for a truly worthwhile organization like Ag Against Hunger,” said Stephen Katzman, President of S. Katzman Produce. “Their goal of helping to end hunger by providing fresh, healthy surplus fruits and vegetables from local farms to food banks and schools is inspirational for all of us in the produce business.”
According to a press release, Salinas companies that donated fresh vegetables to the cause included:
- Steinbeck Country Produce
- Mann Packing
- Taylor Farms
- Tanimura & Antle
- The Nunes Company
- Dole
- Ocean Mist
Transportation of the donated produce and the cost of freight services were provided by C.H. Robinson.
“Thank you just does not seem adequate for what not only our produce partners, C.H. Robinson and S.Katzman Produce have done for Ag Against Hunger with this fundraiser,” said Executive Director of Ag Against Hunger, Lynn Figone. “The generosity is so amazing and inspiring. I would also like to thank Mr. Katzman for his very generous donation to our organization, we are so grateful for his support to help us continue to forward our mission.”
For the last 25 years, Ag Against Hunger has worked with growers, shippers and processors in Monterey, Santa Cruz and San Benito Counties to channel fresh, healthy surplus produce to food banks, food assistance programs, and schools. The organization currently services 21 food banks within California, 4 food banks throughout the West coast, and participates in the More Produce in Schools program.
GREENSBORO, NC – Shares in The Fresh Market were on a slump shortly after the specialty grocer reported weaker results in its third quarter financial report.
The company’s stock slid approximately 4% to $23.23 after it reported a decline in sales for its established stores. Store closures and leadership changes also had a negative effect on its quarterly performance.
Rick Anicetti, The Fresh Market’s newly appointed CEO and President, was optimistic in light of these results, noting that the company’s brand has “enormous untapped potential.”
“With the holiday season fast approaching, we are making changes as quickly as prudently possible to our productivity, price optimization, and brand differentiation to help stabilize traffic trends and drive sales during this key shopping period,” he said in a press release.
Anicetti continued by saying the management team and the Board of Directors are “simultaneously moving forward aggressively with a number of initiatives to strengthen the company’s foundation, increase productivity, drive store traffic, and regain operating momentum.”
The news comes shortly after rumors emerged that The Fresh Market was considering a potential sale in mid-October. Just a few days later, the company announced that it is currently conducting a strategic and financial review of the business, which could result in The Fresh Market moving forward as a standalone company, a capital structure optimization, or a sale of the company or other business combination. No further update was given regarding the progress of the review in the report, however.
Though its third quarter results may seem bleak, it’s clear that the company is still looking to expand the business. The Fresh Market currently has leases signed for 24 new stores, expected to open during or after fiscal 2015. During its third quarter, the company opened six new stores, including two stores in Florida, and one each in South Carolina, Georgia, Alabama, and Connecticut. As of October 25, 2015, The Fresh Market operated 180 stores in 27 states.
In its third quarter of 2015, The Fresh Market reported that its sales increased 3.3% to $433.1 million. Comparable store sales, however, decreased 3.7% to $386.5 million.
Other highlights from the third quarter include:
- Adjusted EBITDA was $37.5 million, compared to $39.1 million in Q3 2014. Adjusted EBITDA for Q3 2015 was 8.7% of sales, compared to 9.3% of sales in Q3 2014.
- Gross profit increased 4.3%, or $5.9 million, to $144 million, compared to Q3 2014. Gross margin was 33.2%, compared to 32.9% in Q3 2014.
- The company generated $28.1 million in cash flow from operations during Q3 2015, compared to $30 million in Q3 2014. The company ended the quarter with a cash balance of $37.3 million.
The Fresh Market has been facing increased pressure from competitors, but what can we expect to see from this “strategic review” and will Anicetti’s proposed changes be enough to turn things around in the fourth quarter? We’ll have to wait and see. Stay tuned to AndNowUKnow as we continue to follow any further updates.
CHELAN, WA - It’s that time of year again, and with holiday feasts on their way, Chelan Fresh has offered a solution in its newest installment of its Healthy You in One Minute monthly video series.
Debuted just last month, Healthy You is a website that offers visitors creative ways to keep their family’s healthy and nourished. In its latest video, Chelan Fresh shows you Thanksgiving recipe ideas that highlight fruits and vegetables while being perfect for gluten-free, nut-free, dairy-free, and vegetarian diets. You can watch the entire video at the link below.
Healthy You in One Minute Thanksgiving Video
Beyond the video, Chelan Fresh’s Healthy You in One Minute website offers full recipes for Thanksgiving recipe’s like Raw Vanilla and Pear “Cheesecake" and Apple Pumpkin Muffins, as well as a link to receive Chelan Fresh’s complimentary Thanksgiving cookbook. Sign up to receive the cookbook at the link below.
Healthy You in One Minute Thanksgiving Cookbook
For all this and more, check out the Healthy You in One Minute website.
BALTIMORE, MD - Crop Circles is hitting Baltimore.
Tessemae's pop-up farmers market, in collaboration with both Verizon and Garden Highway, which purposefully targets food deserts, will be serving fresh produce tomorrow morning to upwards of 3,000 local residents.
"Tessemae's All Natural is proud to have our Crop Circles campaign come to Baltimore,” Greg Vetter, CEO and Co-Founder of Tessemae’s, stated in a press release. “Mayor Rawlings-Blake has been committed to addressing the needs of residents in food desert neighborhoods in Baltimore to access fresh produce. And we believe that our commitment of supporting health awareness initiatives and providing access to quality produce in food deserts complements those efforts within the City of Baltimore."
As we reported previously, Crop Circles is a national event designed to bring fresh fruits and vegetables and an awareness of living a healthy life to food deserts across America. To learn more about the Crop Circles event and food deserts, watch the video below:
For this particular event, a special appearance will be made by Baltimore Raven’s legend Ed Reed as he supports spreading awareness for living and eating healthy. Several other draws for public participation include:
- Fun activities.
- Recipe showcases by Woodberry Kitchen’s Chef Patrick Crooks and others from Baltimore’s food community.
- Live entertainment.
- Educational workshops.
"I believe that for Baltimore City to reach its true health and economic potential, all residents must have access to healthy affordable food," Baltimore Mayor Stephanie Rawlings-Blake added.
Tabb Bishop, Vice President of State Government Affairs for the Verizon Mid-Atlantic Region, also expressed that the tech company is one that cares about the communities it serves, which is why it is proud to partner with Tessemae's All Natural this Thanksgiving.
“Verizon is pleased to be a part of such a worthwhile effort to improve the lives of many Baltimore families during this holiday season,” he said.
Other key partners in the Crop Circles pop up farmers market include the University of Maryland Health Advantage, University of Maryland Medical Systems, Strength.org, and Evergreen Health.
The next step to push produce in areas that need it most takes place at the New Hope Academy tomorrow (Saturday), November 21st, from 10am-3pm.
WENATCHEE, WA – Stemilt has unveiled its latest Stemilt-O-Graphic, which sheds light on the performance of the apple category in September 2015.
The infographic highlights the importance of promoting apples in the holiday season. Considering that the category is one of the top contributors to the produce department, the following contains vital information to keep in mind to help drive apple sales in January and beyond.
Below is a brief summary of some of the insights provided in this document:
- In September 2015, apples made up 6.2% of total produce department dollars, down from 6.7% the year prior. This is due to a number of factors; namely, later crops in the Midwest and East and a slow reaction by retailers to promote Washington-grown apples during this time.
- Average weekly volume was 1,956 pounds for the week of August 30, 2015 to September 26, 2015, down from 2,051 pounds the year prior.
- Gala led the category, followed by Red Delicious, Fuji, Granny Smith, Honeycrisp, Golden Delicious, McIntosh, and Pink Lady. SweeTango® was up 13.7% in sales from 2015 to 2014 despite the higher average retail price, showing that consumers enjoy seeking out new crop apples as they become available.
- Bulk apple sales made up 65% of apple category sales in September, while bags were 35% of sales
For a full look at the infographic, click the image below.
Roger Pepperl, Stemilt’s Marketing Director, said that the increased availability of bags makes for ideal promotions around baking with apples during the holidays, while the New Year marks an ideal time to promote apples in conjunction with healthy eating resolutions, according to a press release.
“The coming months offer the best selection of varieties, including Stemilt’s signature apple variety Piñata®,” he said. “Building large apple displays with a holiday focus will help drive sales now in order to continue to encourage shoppers to purchase apples weekly in January and beyond.”
Pepperl added that although Honeycrisp sold for 9 cents less on average in September 2015 than the year prior, high consumer demand in October and November means that prices and retails for this rising variety have started to increase. In addition, Honeycrisp contributed 2.2% more to the category in September than it did in 2014 because of the early start to the Washington apple crop and increased supplies of the apple.
There’s a huge opportunity for retailers to capitalize on the holiday months to drive sales in the apple category. The key is to promote, promote, promote.
MIAMI, FL - A now former Chiquita Banana shipping facility has sold for $55 million in midtown Miami, Florida.
The Miami Herald reports that the 6.6 acre property sold on Wednesday to a developer outside of the industry with the hopes of turning it into two apartment towers.
The seller of the Chiquita land, developer and investor Alex Vadia, walked away with a profit of $43.5 million, having bought the area for $11.5 million back in 2011.
It is considered a profitable and busy location, just blocks away from the Midtown Miami development of several busy shops and residential towers.
“This area continues to mature and attract Miami’s cultural elite, a dynamic mix of renters, owners, retailers and entrepreneurs,” Gerard Yetming, Senior Vice President of CBRE (Commercial Real Estate Services Worldwide), said in a statement, according to The Real Deal. “Wynwood, Edgewater, Midtown and the Design District have all experienced phenomenal appreciation in real estate sales prices and rents over the last two years as the caché of these neighborhoods continues to rise.”
Leaving this property was one of many moves Chiquita made in the last year and a half as it transitioned into its agreement with Cutrale-Safra, not the least of which have included a massive executive shakeup and an earlier-than-planned move out of its former Charlotte, North Carolina headquarters.
The sign for Chiquita's headquarters also came down officially this week, marking the last stage of its move out of the city just three years after moving in.
For all the latest news and developments within the produce industry, keep checking in with AndNowUKnow.
LOS ANGELES, CA - Two Vision Produce executives have finished up successful terms with the National Mango Board.
Bill Vogel, President of The Vision Companies, and Ronnie Cohen, Vice President/Partner of Vision Import Group, are closing their chapters with the Board.
“Witnessing this diverse board rise to the acclaimed success that the industry proclaims has been a true joy. Good friends and great times made the work all that more rewarding,” Vogel said, according to a press release. “I think Ron and I contributed effectively to the continued and future success of NMB and the growth of positive consumer experience. Simply, we love the mango business.”
Cohen added that the farewell is a bitter-sweet parting, having served six years and two terms on the Board.
“The sweet side is that I have grown both personally and professionally, and have met so many in our industry while making many friends,” Cohen said. “The sour is that I will be missing all of the camaraderie during those meetings.”
Both men had tenures as Chairman of the Board, according to Vision, and each served as members after their appointment had ended.
What will this new chapter for both produce veterans, as well as the next leaders of the National Mango Board, bring? Keep checking in with AndNowUKnow.
CORONA, CA - In an effort to significantly reduce the company’s carbon footprint, Veg-Fresh Farms has completed its installation of a new 1 megawatt solar photovoltaic system that may offset over 42,000 tons of CO2.
“When we built our headquarters and distribution facility from the ground up, we knew we wanted to make it as green as possible, completing this solar panel project this month is another step in our vision for our company,” explains Adam Cancellieri, Partner at Veg-Fresh Farms.
The 4,177-paneled solar system that now occupies the roof of Veg-Fresh’s Corona, CA, distribution center is expected to generate enough electricity to offset over half of the electricity used on site each year with clean electricity generated from the sun. 
“Climbing up onto the roof, and looking over 4 acres of solar panels that could generate enough clean electricity to power 325 California homes, makes us proud of our commitment to environmental stewardship, it’s amazing how much energy these solar panels can produce from the sun,” Cancellieri continued in the release. “When you see the cumulative positive effect of our investment, it validates our decision to go green with clean solar energy, it’s the right thing to do for Veg-Fresh Farms and our community.”
Veg-Fresh will keep a flat screen monitor (seen above) in the sales bullpen to report the hourly, daily, monthly, yearly, and lifetime savings used to estimated the carbon offset, and every day the company will be able to see the direct results of its clean energy investment.
According to a press release, during the next 25 years the system is estimated to offset over 42,000 tons of CO2 (leading greenhouse gas), in addition to 273,000 lbs. of NO2, which causes smog, over 247,000lbs of SO2, which causes acid rain, and over 16,000 lbs. of particulates that cause asthma.
MILWAUKEE, WI - In a new SEC filing submitted by Roundy’s Supermarkets, the company has detailed the developments behind its recent merger with Kroger ever since the deal was first explored in 2011. The filing also offered some insight into other companies Roundy’s pursued before ending up with Kroger, as well as how its struggling financial results affected the company’s decision to merge.
Starting in February 2011, the filing reveals, Roundy’s conducted an auction process in which it contacted 23 unnamed strategic buyers, including Kroger, and 46 financial sponsors in an attempt to sell the Company. While nine potential buyers submitted preliminary indications of interest, Roundy’s ultimately decided to pursue an initial public offering instead, going on the New York Stock Exchange as of February 17, 2012.
Talks between Kroger and Roundy’s were once again sparked in early August when Kroger CEO Rodney McMullen and CFO Michael Schlotman requested a meeting with Roundy’s CEO Robert Mariano and CFO Michael P. Turzenski about a potential takeover. A preliminary offer of $3.10 to $3.40 per share, or $150 million to $165 million for all of Roundy’s shares came from Kroger later that month, but was rejected.
The talks resurfaced in late September after Roundy’s met with investors, the filing explains, with investors pushing for a higher purchase price. Dealings reportedly continued until an October 14th conference call with investors, where Turzenski revealed that its Q3 financial report would likely fall well below expectations. The Board then informed Roundy’s advisors that it would consider entering into exclusive negotiations if Kroger provided a specific purchase price that was acceptable.
Following that call, Kroger and BofA Merrill Lynch presented Roundy’s with an offer of $3.55 per share, subject to a 21-day period of exclusivity to complete due diligence and finalize negotiations, but on October 21st, Roundy’s board asked for yet another price raise in exchange for exclusive negotiations. Kroger then raised its offer $3.60 per share the same day, offering Roundy’s a “go-shop” period in which the company could seek higher offers from other potential merger subjects.
On October 26, Roundy’s and Kroger worked out the initial draft of their “Agreement and Plan of Merger Agreement,” which detailed a termination fee of $20 million payable by the Roundy’s if the Merger Agreement was terminated pursuant to a superior proposal submitted during the go-shop period (or a fee of $25 million if the Merger Agreement was terminated after the go-shop period).
As we’ve previously reported, Roundy’s and its advisors agreed to the deal on November 11 and announced the deal the following morning. While the filing stipulates that the “go shop” period expires on December 10th, Kroger’s tender offer has already commenced.
For more information of this pending merger as it comes, check back with AndNowUKnow as we bring you the latest.
FOWLER, CA - Now that citrus import season has officially wrapped up, next on the Bee Sweet agenda is to bring back its specialty citrus season.
“While we provide lemons, mandarins and oranges to our consumers year-round, we’re extremely happy to welcome back all of our specialty varieties,” said Bee Sweet Citrus President Jim Marderosian. “Each variety has its own unique qualities making specialty citrus a great addition to any meal.”
Bee Sweet’s specialty citrus program refers to those specific varieties that are not readily available year-round. These include unique varieties like Cara Caras, Blood Oranges, Pummelos, Melo Golds, Grapefruit, stem and leaf mandarins, Page Mandarins, Oro Blancos and Meyer Lemons. In addition to its unique taste, Bee Sweet is highlighting that specialty citrus also offers a plethora of health benefits.
“There are many reasons why people love specialty citrus,” explains Bee Sweet Citrus' Director of Communications Monique Bienvenue in a press release. “Grapefruit is high in fiber, tastes great and is a great source of vitamin C; Meyer Lemons are less acidic than regular lemons, and are often used in dessert recipes; Blood Oranges are usually sought for their sweet taste and are an excellent source of anthocyanins. The list goes on and on.”
As the “foodie movement” in America continues to grow, consumers are now more and more willing to switch up their tried-and-true recipes. While specialty citrus can be a great snack on its own, Bee Sweet notes in a press release, many of the varieties can also be incorporated into unique dishes. For a complete list of specialty varieties and their availabilities, check out Bee Sweet’s website by clicking here.