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MCLEAN, VA - It was just last week when Gladstone Land Corporation scooped up its latest strategic property, acquiring $7.4 million of farmland in Maryland’s Eastern Shore and Delaware. The company is at it again this week as it announced it has acquired 2,515 gross acres of farmland in Fresno County, California, for approximately $31.8 million.
“The acquisition of this pistachio orchard and open farmland adds to our existing permanent crop farmland and organic ground growing vegetables and should result in another good, long-term investment for us,” said David Gladstone, President and CEO. “In addition, we are forming a new relationship with a very seasoned grower who has been in the pistachio and vegetable business for many years. We are continuing to evaluate a good list of potential farms to buy as we work toward a strong end to 2020 after a record year of acquisitions in 2019.”
The farm consists of 619 planted acres of mature pistachio trees and 1,896 acres of open farmland, 1,273 acres of which is organic. This acquisition values the land on average at around $12,644 per acre.
In connection with the acquisition, Gladstone Land also entered into an eight-year, triple-net leaseback agreement with the seller, as noted in a press release.
“We are very pleased to add more quality farmland and mature pistachio trees near Coalinga, California, to our portfolio,” said Tony Marci, Managing Director. “This acquisition allows us to develop a new relationship with a long-time farmer in the business and also helps the seller with its goals with this sale-leaseback transaction. We are particularly excited about this farm because of its historically high production and the high percentage of organic land.”
It seems Gladstone acquisitions are in season, so keep a tab open for AndNowUKnow.
SEATTLE, WA - Just when I think that Amazon is getting ready to slow down, I turn around, and BOOM! There is another innovative expansion strategy that the retailer has introduced to the world. The latest move comes as Amazon has announced that it will create 10,000 new jobs in the Seattle suburb of Bellevue, adding to the already 15,000 jobs it plans to create over the next few years, showing that slowing down isn’t something the e-tailer intends to do any time soon.
With 25,000 new employees comes the need for new space as well. According to an article from CNBC, Amazon has already secured 2 million square feet of space in downtown Bellevue divided between two new properties. The buildings include a 42-story building, 555 Tower, and West Main, a building that spans an entire block and touts three towers. The projects are currently under development.
These new buildings come in addition to Amazon’s Bellevue 600 project, which includes a 43-story tower that offers up 1 million square feet of office space. The first phase of that project is set to be completed by 2024. The second phase of this project is set to begin within the coming weeks and features a 27-story tower that will be completed by 2025.
The upcoming developments and additional employees will join the already 2,000 who work for the company in Bellevue, the location where the company was founded in 1994. There is an additional 430 open positions for Amazon in the Bellevue area currently.
Earlier in August, Amazon also unveiled its plans to create 3,500 jobs across Dallas, Detroit, Denver, New York City, Phoenix, and San Diego. To date, Amazon boasts 876,000 employees.
What is next for this expansive retail giant? Find the answers to this question as we continue to keep our ears to the newswire.
MORGAN HILL, CA - Farming methods grow more innovative every day—not only as a way to become more efficient, but to maximize the safety and well-being of all. Sakata Seed America recently made an important move in its operational evolution, announcing the formation of a Controlled Environment Agriculture (CEA) department.
Leading the new division will be Tracy Lee, an 11-year veteran of Sakata Seed America with an extensive background in agriculture.
“I think there is tremendous growth opportunity in serving the Controlled Environment Agriculture segment, and I’m very pleased that Sakata is continuing its leadership in the market. This is something that I’m passionate about and have been active in for the past several years,” added Lee.
This new department will focus on indoor agriculture, a growing segment of the produce industry that focuses both on traditional greenhouse production as well as specialized vertical farming.
“We have been focused on this segment for a number of years, especially in the leafy greens category,” said Justin Davis, Director of Sales and Marketing, adding that this new group is designed to bolster the company’s leadership role in developing varieties for controlled environment ag. “The timing is ideal for Sakata to create this group to hone our efforts on CEA in order to bring more products to the market for Indoor ag.”
Throughout her time with Sakata, Lee has played active roles specializing in product development for multiple categories that will translate well into her role with the CEA department. She has also handled the company’s home garden and farm market vegetable seed sales.
According to a press release, Lee completed her BA at Clemson University, and earned a Master of Science in Horticulture from her alma mater. Her field of study focused on sustainable vegetable production. Prior to her work at Sakata, she held product management, marketing, and sales positions at vegetable and flower seed companies for an additional 10 years.
“I feel that my background and specific work with indoor growers gives me unique insight into the market’s needs. My goal is to harness my experience in the field and bring the right mindset back to Sakata as we develop new products created specifically for CEA,” concluded Lee.
This industry never stops moving and shaking, so stick with us as we uncover the latest at AndNowUKnow.
OXNARD, CA - Mission Produce has announced that it filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission for a proposed initial public offering (IPO) of its common stock.
IPO's send the financial world abuzz, adding another layer to a company's value and perception, as well as to its potential for even more growth.
“Mission is excited for the potential to become a publicly traded company. This was the next logical step to continue our growth in the avocado industry. We are going to remain focused and committed to being pioneers and bringing the world’s finest avocados globally,” Steve Barnard, Founder and CEO, shared with me.
The grower's application has been made for listing the common stock on the NASDAQ Global Select Market under the symbol “AVO,” though the number of shares to be offered and the price range for the proposed offering have not yet been determined.
BofA Securities, J.P. Morgan, and Citigroup are acting as bookrunning managers for the proposed offering, according to a press release. Roth Capital Partners, Stephens Inc., and D.A. Davidson & Co. are acting as co-managers for the proposed offering, Mission noted.
A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission, but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.
The proposed offering will be made only by means of a prospectus. A copy of the preliminary prospectus relating to the proposed offering, when available, may be obtained from BofA Securities.
If successful, Mission Produce will join the publicly traded fold with companies like Albertsons, BJ's Wholesale, Beyond Meat, and more.
Stay tuned as AndNowUKnow looks to learn more about the opportunities presented by Mission Produce’s IPO filing and what the grower has up its sleeve.
BRENTWOOD, MO - As the produce industry takes the virtual world by storm, Produce for Better Health Foundation (PBH) has announced that it will be hosting a virtual influencer event to celebrate the finale of National Fruits and Veggies month. The Have A Plant® Nation Virtual Influencer Event will offer education and solutions for those in retail, foodservice, and the online marketplace. The event will be held September 29–30.
“COVID-19 has completely disrupted how we traditionally connect and engage to build powerful partnerships that promote fruits and vegetables,” explained Sharese Roper, Member Engagement Director at PBH. “In my day-to-day conversations with our members, it became clear that the abrupt shift to a fully virtual world created a void as well as a subsequent craving for intimate engagement and meaningful relationship building with the people who, even during stay-at-home orders, are inspiring consumers and their shopping lists every day.”
The advent of this newest event comes one year after PBH declared September as National Fruits and Veggies Month as part of its plan to garner new support for fruit and veggie consumption across the nation. According to a press release, the event aims to expand the reach of the company’s Have a Plant movement, along with a new National Fruits and Veggies Month toolkit to promote healthy eating habits.
Additionally, PBH has created industry partnerships to continue its strategy and expand education about the benefits of a healthy lifestyle. PBH will partner with the FMI Foundation with an emphasis on produce-packed family meals, National Dairy Council (NDC) with #haveaplantwith dairy, and National Cattlemen’s Beef Association (NCBA) with #unitedontheplate, and more.
“Now more than ever, it’s important to provide the public with the information and inspiration they are seeking regarding their health and well-being,” said Wendy Reinhardt Kapsak, MS, RDN, President and CEO. “In addition to PBH as a credible source of science-based information, Americans also rely on health and nutrition professionals, culinary and fitness experts as trusted sources for information. The PBH Have a Plant Nation Virtual Influencer Event unites important retail and foodservice professionals as well as healthy lifestyle influencers with fruit and vegetable industry leaders to inspire actionable solutions that can positively impact consumers’ consumption habits.”
As PBH continues to strategically expand its outreach, the two-day virtual event that it is hosting will feature education sessions, virtual tasting, and virtual small group visits that will include video sessions for 10-12 influencers at once.
Those in attendance will get exclusive first-look access to PBH’s signature 2020 State of The Plate: Fruit and Vegetable Consumption in America research, and get to gain insights for top C-suite industry members. Leaders from the likes of Taylor Farms, Frieda’s, Dole Packaged Foods, Sun-Maid Growers of California, and many more are expected to speak.
“While we’re disappointed that we can’t see everyone in person during this time, we are looking forward to this unique opportunity to continue to reap the benefits from PBH’s signature service through this virtual education platform,” remarked Nichole Towell, Senior Director, Marketing Services of Duda Farm Fresh Foods. “Events are just one way the produce industry can get involved to leverage all that PBH has to offer, which is why we engage with their multi-faceted surround-sound approach customized package each year. We know now we cannot rely on in-person events and experiences alone, and we are thrilled to have PBH as our partner to help us flip the switch to turn a traditional demo into a truly meaningful (virtual) experience.”
As if the educational opportunities weren’t enough, PBH invited over 50 strategically-selected influencers from retail, foodservice, and the PBH Fruit and Vegetable Ambassadors in Action (FVAA) Influencer Network. Among those in attendance include Albertsons, Bloomin’ Brands, Sysco, and many more. To see the full list, click here.
As COVID-19 continues to change the landscape of events, PBH is adapting to continue to bring our industry together in exciting new ways. With education and innovation as key elements of growth, we here at ANUK look forward to seeing what new events will continue to inspire us, even in the virtual world.
OXNARD, CA - Dressed to impress, great for the environment, and driving premium category differentiation—these three elements make the new Fair Earth Farms brand a triple threat of ingenuity. Fresh Prep, a division of Boskovich Fresh Food Group, revealed the new value-added product line early last month to rave reviews and an already growing consumer base. As of September, the new additions are already in all Bristol Farms locations, and Boskovich will also be rolling out the category showstoppers to all Lazy Acres stores this week.
"We understand the urgency and importance of reducing single-use plastic in packaging within the produce industry today. Fair Earth Farms' innovative packaging was developed specifically with the goal of eliminating petroleum-based outer plastic packaging entirely," said Fresh Prep CEO, George Boskovich III.
The new offerings feature both single-serve and bagged salad kits with restaurant-inspired recipes in 100 percent home compostable packaging.
The line debuted with five palate-inspiring recipes in the salad trays that I have personally had the chance to try: Coconut Cashew, Mexican Caesar, Two Way Spinach, Bacon Buttermilk, Sierra Sunrise, and Chipotle Coleslaw. Each one caters to a range of consumer demographics and needs on the plate, and are as unique as the days of the week. In bag form, there are six flavors, so stay tuned for more exciting information on this line evolution.
“Elimination of single-use plastics is a common thread in all of Fair Earth Farms products. Different than other recycling or other compostable materials, the Fair Earth Farms home compostable bags and trays are certified to break down in a home compost or landfill in less than 70 days,” said David Adams, Fresh Prep VP Retail Sales and Marketing. "Our recently completed nationwide consumer survey indicated a strong preference around the elimination of single-use plastic in as many retail food offerings as possible. Consumer research also indicated consumers would spend 10-15 percent more knowing that their choice of value-added salads would not contribute to the ongoing single-use plastic contamination. Beyond our unique home compostable packaging are restaurant quality flavors and craveable meal additions."
Boskovich and Fresh Prep designed Fair Earth Farms with the intention of utilizing the most "earth-smart" materials. One element of differentiation is that the packaging is not meant to be recycled, it is meant to be broken down and "leave no trace" to the environment.
To find out more and keep up with the leafy greens powerhouse, find the company on Facebook, Twitter, and Instagram.
Elevating the meaning of value-added is one amazing way to drive consumer traffic through the produce department, and the team at Boskovich Farms and Fresh Prep are sealing the deal on this summer’s success with its retail partners, so do not get left behind.
FRESNO, CA - Growing up in California, table grapes were synonymous with luxury, taste, and appeal. As varietal advancements have furthered these connections, it is companies like Fowler Packing who take the variety innovation one step ahead. To learn more about the grower’s program, I chatted with Sean Nelsen, Vice President of Sales and Marketing.
“Consumers love California grapes and two of the best are the Sorbet and Jack’s Salute, because these grapes offer the consumer an amazing eating experience with big crunch and a sweet flavor,” he remarked. “When you ask consumers what they look for in grapes, they immediately identify the crunch or the flavor. The Sorbet variety is a premium green seedless grape that delivers on both; it appeals to everyone who likes a super crisp, sweet, refreshing grape. The Jack’s Salute is a grape that is very consistent and drives sales by offering any red seedless fan a trusted eating experience.”
As the current crop of both varieties is coming off nicely, the fruit itself is showing strong sizing and bunch development.
“These are newer premium varieties, and the ranches are coming into peak production so volume is there to support promotions,” Sean explained to me. “We have seen great success with both Sorbet and Jack’s Salute being offered for four to six weeks as pick of the season promotions. We are seeing strong export demand for both as they have global recognition. Fowler ships to Australia, Asia, and Southeast Asia, as well as Canada and Mexico.”
Sean noted that the market is currently seeing very engaged consumers, and promotions are the key to keeping them that way.
“Promotions will drive sales, so we need to focus on driving promotions to capture incremental sales. People are looking for a trusted purchase, and the best way to communicate the quality and consistency of a product is with a clean shelf and clean displays. The consistent look on the shelf exudes confidence in the offering,” he commented.
Need an excuse to spice up your grape program? Retailers, look no further.
NEW YORK - U.S. online wholesale retailer Boxed is considering its options for strategic growth, some of which include a sale or going public through a merger with a blank-check acquisition company that could value it at around $1 billion.
According to Reuters, the online retailer has hired investment bank Citigroup to advise on the sale, the sources said, requesting anonymity as the matter is private. The company has held discussions with potential buyers including so-called special-purpose acquisition companies (SPACs), the sources said, cautioning that it is possible no deal will ultimately materialize.
Both Boxed and Citi declined to comment.
Boxed is often referred to by some of its customers as a Costco for millennials. The New York-based company offers products from fresh groceries to office supplies without membership fees, and also provides free delivery for orders over $49.
Like many e-commerce businesses, it has benefited from a boom in online sales in the United States as consumers stay away from brick-and-mortar stores due to the COVID-19 pandemic. Boxed has seen a steady uptick in new customer signups since March, one of the sources said.
How will Boxed continue to grow and take hold in the retail space? AndNowUKnow will continue to report.
MINNEAPOLIS, MN - A new executive has joined the ranks at Target Corporation as the company has named Maurice Cooper Senior Vice President of Marketing. Cooper will join the company September 14, where he will report to Rick Gomez, Target's Executive Vice President and Chief Marketing, Digital, and Strategy Officer.
"Having been a longtime fan of this iconic brand, it's so inspiring to see Target's transformation and leadership in retail, along with its impressive growth, and continued commitment to better serve its guests," says Cooper. "I'm thrilled to join the team and am eager to help Target's marketing bring even more joy and inspiration to all guests."
Cooper will oversee Target's marketing, creating plans that are guest-centric, culturally relevant, and inclusive to fuel consumer affinity for Target's brand and grow its business. He will lead the strategy and execution of brand, category, and promotions marketing across paid, owned, and shared media, while also overseeing key campaigns such as Holiday.
According to a press release, Cooper brings significant experience and success as a strategic and innovative marketing leader having previously served as Executive Vice President and Chief Growth & Experience Officer at Wingstop Restaurants, the fast-growing, fast-casual chain known for its chicken wings. In addition, Cooper has had executive brand marketing roles at Intercontinental Hotels Group and The Coca-Cola Company. Most recently, he founded and led Forward Vision Strategies, a marketing consulting firm.
"Maurice has an incredible passion and curiosity for understanding the consumer, their mindset, and their shifting preferences," says Gomez. "His extensive experience and leadership will make him a great addition to our marketing team as we continue to evolve Target's marketing to be even more closely connected to our guests."
Congratulations to Maurice Cooper on this new role!