WATSONVILLE, CA - For more than 15 years, California Giant Berry Farms has sponsored cycling teams, eventually inspiring the company to put into motion the annual Tour de Fresh movement.

This year, the company announced, the team has leapt to a new level in its commitment to the sport, as well as visibility to the California Giant brand.

Comprised of young professional riders ages 19-22 years old, the team is working to ride in the Tour de France, and just completed the 100+ mile Tour of California.

Aexeon Berman, founded in 2009 by former professional cyclist and Olympic bronze medalist Axel Merckx, has teamed up with the company to represent the next generation of cyclists.

“This week I had the honor of riding shotgun in the team car with Axel Merckx during Stage 4 of the Amgen Tour of California,” Cindy Jewell, VP of Marketing for California Giant, said in a press release. “This stage was an epic ride from Morro Bay to Monterey, CA, via the legendary Highway 1 through Big Sur, which included 133 miles of one of the best experiences I have ever had. Getting a front seat view of over 100 professional cyclists attack Highway One and being able to witness how these young people on our team worked to accomplish greatness is awe inspiring.”

California Giant noted that it is already seeing growth in some cyclists who were on the team before it merged with Axeon, which is now leading cycling's new premier development program with a number of other notable sponsors.

The team finished the Tour of California Sunday, May 22, completing an epic stage of riding into Lake Tahoe, CA, finishing with Team Axeon in the headlines in downtown Sacramento, CA.

California native Neilson Powless earned an overall top 10 result and, at only 19 years old, was named Best Young Rider of the Amgen Tour of California.

And, as after each race and training, the team was met with a very large portion of California Giant berries, surely making them the envy of all those they competed against.

According to California Giant, the biggest story in this latest partnership is maintaining its connection to cycling and, specifically, young ambassadors building on the brand loyalty as they convey the importance healthy eating and living.

California Giant Berry Farms

PEORIA, IL - The Tom Lange Family of Companies has announced that it will be sponsoring Conor Daly in the 100^th running of the Indianapolis 500.

The Indy 500 will take place this Sunday, May, 29, 2016. This race will mark Daly's third time participating, where he will be in the 24^th position.

The company stated in a press release that the sponsorship was originally born of a passion for racing by CEO and Chairman, Phil “Rock” Gumpert. Gumpert took up racing at the age of 40 and held his license for 31 years. Gumper still races SCCA with a Formula Atlantic car, and Vintage Racing with a 1976 Formula One car and several Indy cars.

“Racing is a lot like the produce industry for me,” Gumpert said. “It is a competition within yourself, striving to beat your own best time and excel to your best potential… on and off the track.” 

Being a resident of Noblesville, IN, himself, Gumper became friends with Daly’s father, Derek, who was also Formula One and Champ driver. Gumpert admired the talent and drive of Conor Daly as he watched him race go-karts from the age of 10. Gumpert and the company have sponsored and watched Daly transition into a skilled driver for over 12 years. 

The company also noted that its sponsorship is more than just a shared passion for racing, but also a sponsorship of health and a well-balanced diet. Daly was diagnosed with Type 1 diabetes when he was 15 years-old, which caused the now 24 year-old to alter his eating habits, begin an active lifestyle, and channel his health frustrations into racing. The company said there was nothing that could slow him down. 

Before every race, Daly follows a strict dietary regiment that is filled with fresh fruits and vegetables, a diet that the Tom Lange Family of Companies said it is proud to sponsor. Daly takes insulin shots and wears a glucose monitoring system, in addition to have one in his car.

Tom Lange Family of Companies wishes the best of luck and a safe race to Conor Daly in this Sunday’s race! Daly’s first qualifying run for the Indy 500 was 227.804, with a second qualifying run of 227.862.

Tom Lange Family of Companies

ROSEMONT, IL – Finally securing its initial public offering, US Foods raised $1.02 billion on Wednesday to become the second-largest IPO in the U.S. so far this year.

To secure its funds, US Foods priced its 44.4 million shares at $23 as of market close on Wednesday, which lies within the $21 to $24 range that US Foods previously expected, according to an anonymous source close to the matter as reported by the Wall Street Journal. 

In its first day of trading, the Wall Street Journal also reported that US Foods shares had surged up 5.3 percent at $24.25 in the morning trade. US Foods’ ticker symbol will be listed on the New York Stock Exchange under USFD. 

Reuters stated that analysts had been closely following US Foods because it was the first major leveraged buyout going public since the stock market became first apprehensive of such debt-laden offerings at the end of last year. 

US Foods reported $23 billion in revenue and an EBITDA of $875 million for fiscal 2016, as documented in its IPO prospectus. The company has approximately $5 billion in debt which US Foods plans to pay down on with its proceeds from the IPO. Some of the underwriters for the offering include Goldman Sachs & Co., Morgan Stanley, and J.P. Morgan. 

Reuters also noted that this IPO securement offers a way for its private equity owners, Clayton, Dublier & Rice LLC and KKR & Co LP, to sell their own shares in the company after a prospective sale of US Foods to Sysco Corp was blocked last year by the U.S. Federal Trade Commission.

US Foods’ IPO was only beat out by MGM Growth Properties LLC’s initial public offering of $1.2 billion last month, and is the third private equity-backed IPO to have raised more than $1 billion since the start of 2015. 

Stay with AndNowUKnow as we watch how its public stature will affect the company.

US Foods

ISSAQUAH, WA - Costco has released its third quarter financial report, spurring its highest period of stock growth in more than six years. In a particularly rough retail climate, the company was able to beat analysts’ estimates for earnings and maintain investors confidence.

During the third quarter, Costco’s net income rose 5.6 percent to reach $545 million. At $1.24 a share, this beat what Bloomberg reports was the average analysts estimate of$1.22 a share. Following this announcement, Costco’s share price jumped over 6 percent to $153.88 as a high, the most since September 2009, according to Bloomberg. As of 12:30 PM EDT, shares were up a little over 4 percent.

Earlier this week, we had reported on analyst Jim Cramer’s theory that company shares could jump as high as eight percent following the finalization of Costco's projected revenue increases.

On the other hand, total sales for Costco missed the mark, climbing 2.6 percent to reach $26.77 billion, off from the $27.07 billion that analysts expected. Comparable sales, sales in stores open at least a year, also remained flat in the third quarter, rising 1 percent in Canada and falling 2 percent in all other countries.

Costco currently operates 705 warehouses, including 493 in the United States and Puerto Rico, 90 in Canada, 36 in Mexico, 27 in the United Kingdom, 25 in Japan, 12 in Korea, 12 in Taiwan, eight in Australia and two in Spain. Costco also operates electronic commerce web sites in the U.S., Canada, the United Kingdom, Mexico, Korea and Taiwan.

Costco

SALINAS, CA - Debate continues to heat up about a proposed $76.7 million Interlake Tunnel project. The project, which proposes connecting California’s Lake Nacimiento and Lake San Antonio with a 10-foot thick, 12,000-foot-long pipeline, is in the midst of a 46-day scoping period, which allows for the public to weigh in on what should be included in the environmental impact report.

The pipeline is considered by some to be a key part of the Salinas Valley’s effort to add new water supply, with others insisting for a more comprehensive environmental review.

Ideally, the pipeline will allow for transportation and storage of excess water from Lake Nacimiento to Lake San Antonio, which fills up three times slower, according to the Monterey Herald. As suggested by the project’s proposal, the tunnel will reduce flooding by 60 percent, increase available water by an average of between 8,000 and 20,000 acre feet per year, and add 59,000 acre feet of water storage capacity at San Antonio.

Earlier this month, the first of two scoping meetings for the Interlake Tunnel project’s environmental impact report was held at the Agricultural Commissioner’s office in Salinas, with fierce debate from both sides of the issue.

Steve Blois, Nacimiento property owner, argued that the tunnel project environmental impact report should cover the potential impact on lakefront property values and recreational opportunities due to lower water levels, as well as a replacement water supply plan for property owners who rely on the lake for their water. A board member for the Metropolitan Water District of Southern California, Blois debated that the project could represent a “taking” of property values, according to the Monterey Herald. Other critics of the project argued that the region has better alternatives to the Interlake plan.

Chris Bunn, who the news source describes as an agri-businessman, said the project is very valuable, meaning that local officials should do whatever it takes to get the project to work. “If we get too tough on (the project) we’ll kill it and then where will we be?” Bunn said. “We’ve been fighting just to get the river cleaned up so the flood control would help. This is a win-win thing for everyone.”

Comments will be accepted through 5 p.m., June 13, and a draft project environmental impact report is expected to be completed by lead environmental consultant Horizon Water and Environment early next year. The final report is expected to be completed by late summer or early fall 2017, and if approved, the project will be complete by 2019.

SYDNEY, AUSTRALIA - Feast your eyes on this four-foot-long vegetable, the latest record holder for world’s largest cucumber. Grown by Australian thirteen-year-old, Keegan Meyers, this 1.3-meter-long (4.1 feet) gourd has been vetted by the Australian Giant Pumpkin and Vegetable Society as the new crowning achievement in cucumber growing.

Keegan, who began growing his striped cucumber in January of this year, according to the World Record Academy, swears that the secret to his success was his healthy mix of fertilizer, cow manure, and worms inside a glasshouse.

The official measurements reached 130.5 cm (51 inches) long when it was picked on April 13, which beat the previous world record of 119.5 cm (47 inches), held by a grandmother in Britain.

Keegan told source, the Advertiser, that he did not initially intend to break the world record, but was proud of his efforts, adding that he would try to break the record again. Unfortunately, he was unable to enjoy the fruits of his labor, as the overly ripe cucumber ended up as chicken feed.

Need to know more about oddly large fresh produce? Of course you do, so make sure to keep coming back to AndNowUKnow for more.

FRESNO, CA – Gearing up for their latest event, the Fresno Food Expo is now accepting applications for its New Product Awards category, and the Fred Ruiz Entrepreneurial Award. 

The 2016 Fresno Food Expo will take place from July 27-28, and will feature site tours and an opening reception for pre-registered buyers, followed by a trade show. Applications for the New Product Awards and the Fred Ruiz Entrepreneurial Award are due July 1, 2016.

The New Product Awards is entering into its fourth annual occurrence, and will be presented by Baker Peterson Franklin, CPA, LLP, according to a press release. The category was designed to build buyer and consumer awareness, and to launch products from the ground up in stores, restaurants, and foodservice. 

“We strongly believe providing a platform to encourage and recognize innovation is critically important not only to the mission of the Expo, but to the growth and prosperity of our region’s food industry,” stated Erin Goldfarb, Partner at Baker Peterson Franklin, CPA, LLP. “That’s why we support the Expo, and are proud to sponsor the New Product Awards.” 

The New Product Awards have recognized more than 125 new products since 2013, and recognize innovation through the Buyer’s Choice Award and People’s Choice Award.   

The Buyer’s Choice Award is first judged by panel of food industry professionals at the New Product Award Preview Event, before finalists advance to the final round during the Business to Business Trade Show. Finalists present their products to the Celebrity Judging Panel who determine first, second, and third place winners.

The Celebrity Judging Panel will consist of:

• Erna Kubin-Clanin: world-renowned chef, owner of Erna’s Elderberry House and Chateau du Sureau
• Alan Grice: Sales Manager of Pacific Division Valley Coastal, United Natural Foods Inc.
• Sean Topping: Local Marketing Lead, Albertsons – Safeway Northern California Division
• Jim Jarosz: Division Manager, Landsberg Orora

The People’s Choice Award winners are voted on by the public through the Fresno Food Expo website and Facebook page. Voting will take place from July 14 through July 28, 2016. Fresno Food Expo stated that the awards have inspired innovative products such as hard root beer, and new varieties of healthy snacks.

Last year’s winner, Molucca Chocolate, received 1,074 of the 3,721 total votes for its Craft Chocolate Bars. “As a start-up company, we were hesitant to exhibit at the Fresno Food Expo because it was an investment for us. After participating in the 2015 Expo and entering our chocolate into the New Product Awards, we concluded it was the best thing we could have done for our business,” said Yohanes Makmur, Co-founder of Molucca Chocolate. “It’s because of our positive experience last year that we chose to unveil a new product at this year’s Expo, as well.”

Fresno Food Expo stated that the Fred Ruiz Entrepreneurial Award is also returning this year after its initial creation in 2015. The award was named after Fred Ruiz, founder of Ruiz Food Products, Inc., who was also a Fresno Food Expo Board Member. 

The Fred Ruiz Entrepreneurial Award supports the Expo’s mission of mentorship and guidance after the legacy of its founder, and honors companies who have the same qualities as Ruiz Food Products, Inc., which have taken the company from its family start-up status to its success today as a large manufacturer. 

The first winner in the award’s inaugural year was Rosa Brothers Milk Company, after noting a 300 percent growth since its Fresno Food Expo launch in 2012. “Fred Ruiz is a successful, highly esteemed leader within the food industry, so for our company to be regarded as having a similar entrepreneurial spirit is a great honor,” said Noel Rosa, President of Rosa Brothers Milk Company. “Because both of our companies started as small family businesses, his mentorship provides an invaluable opportunity to learn, grow, and be inspired.”

Registration for the event is currently open for both buyers and exhibitors, and more than 150 exhibitors and 950 pre-qualified domestic and international buyers are expected to participate. Some noted buyers who are already registered consist of: 

• Whole Foods
• Vallarta Supermarkets
• Save Mart Supermarkets
• Food 4 Less
• United Natural Foods Inc.
• JD Food
• Saladino’s Foodservice

Tickets to the Fresno Food Expo Public Event, Expolicious, are on sale for $50. The event features sampling and discovery of food and beverage products.

For more information, applications, and lists of participants please visit the Fresno Food Expo website.

Fresno Food Expo

BOISE, ID - With a plan to pay back accrued and unpaid interest due 2022, Albertsons Companies, LLC has announced the pricing of $1.25 billion in aggregate principal amount of new 6.625% senior notes.

Expected to close on or about May 31, 2016, the senior notes would be due 2024. The deal is, however, still subject to customary closing conditions.

According to a press release, the company plans to use any net proceeds from the $1.25 billion offering for the following:

• Pay the redemption price, as well as accrued and unpaid interest, in connection with the redemption of all of the outstanding 7.750% senior secured notes due 2022 co-issued by Alberstons Companies and Safeway
• Repay certain amounts outstanding under its existing term loan facility
• Pay fees and expenses related to the Redemption and the issuance of the senior notes

Albertsons Companies and its subsidiaries, Safeway Inc., New Albertson's, Inc., and Albertson's LLC, will be co-issuers of the offering, according to the release.

Once the outstanding 7.750% senior secured notes are redeemed, the collateral currently securing the Safeway Notes, plus the guaranties of the Safeway Notes by Albertsons Company and its subsidiaries, will be released.

The security notes for sale will be offered in the U.S. to those qualified, as well as to those outside the U.S. that are in accordance with Regulation S under the Securities Act.

What other financial moves does the retailer have in store? Keep checking in with AndNowUKnow as we continue to keep our finger on the pulse of the buy-side and supply-side of the produce industry.

Albertsons

ORANGE COUNTY, CA - Zespri is ramping up in 2016 with expanded kiwifruit distribution of its SunGold, Green, and Organic varietals across North America. The company is growing even beyond that with the addition of a North American office in Orange County, California, and hiring more staff within the region to support customers and distributors as Zespri evolves.

Market Manager North America, Glen Arrowsmith, ‎notes that the first shipments of Zespri Kiwifruit hit shores in mid-May and should be in U.S. and Canadian stores by June 1.

“U.S. demand for Zespri Green Kiwifruit also continues to climb as consumers discover the delicious and vastly superior eating experience of Zespri Kiwifruit,” said Arrowsmith. “Zespri shows steady growth in both Organic Green and Organic SunGold varietals as well.”

A natural cross between gold varieties of kiwifruit, Zespri SunGold popularity is growing fast, according to a press release, with sales expanding in the U.S. and Canada. This variety is also sweeter than a green kiwifruit, the company notes, and tastes like a cross between a mango and a strawberry. The skin is smooth and hairless and offers a juicy, yellow flesh. One serving has three times more vitamin C than an orange and provides as much potassium as a banana, according to USDA data.

Zespri’s comprehensive quality system is used in every stage of the production process and is the basis for all Zespri kiwifruit growers. 

“We are committed to the North America market as we see a real opportunity for the kiwifruit category to grow as consumers experience premium quality Zespri fruit,” Arrowsmith stated. “We’re elevating our unrelenting focus on superior taste and eating experience with a robust, innovative marketing plan and re-brand strategy to reach consumers.”

Zespri conducted research in the U.S. around the development of consistent packaging across all platforms, to support the expanded distribution and re-brand. Highlights of the research favored the product image as the main focus and the taste profile message, along with “Cut, Scoop & Enjoy,” usage tips to help remind consumers that kiwifruit is an easy-to-eat and a great snack. New packaging will roll out through the upcoming season. Full coverage is planned for the 2017 season. 

Zespri’s integrated PR and marketing campaign will also launch across TV, print and digital media. In addition, the company is planning sampling activities that will allow consumers to “Taste the Difference” for themselves and help educate consumers. Keep a look out for user-generated videos that will be released on Zespri’s YouTube channel, in order to further spread the word.

Zespri 

VANCOUVER, B.C. – As The New Zealand Envy™ apple prepares its return to the market next week, Oppy announced that retailers can also look forward to the return of strong dollar and volume contributions from the favorite variety. 

“Cool nights and dry harvest days have colored up this season’s New Zealand Envy crop beautifully,” said David Nelley, Executive Category Director for Apples and Pears. “Our retail partners are in for a real treat, not only because the fruit looks and tastes so good, but its category contribution is proven and continues to come on strong.” 

Oppy noted in a press release that last year,  Envy demonstrated the strongest growth in both pounds and in retail sales of 11 premium apples. Envy’s sales nearly doubled in volume between 2014 and 2015, with its dollar contribution increasing by over 120 percent. Nelley stated that Envy currently ranks fifth in volume after only being commercially available for four years, behind Honeycrisp, Pink Lady, JAZZ™, and Ambrosia.

“We’re proud of that achievement, but not surprised, given that one super premium retailer in California told us Envy has been the biggest item in terms of gross sales in the entire store for certain periods,” Nelley said.

Oppy said that consumers are eager to mark the return of the apple, and have been messaging the company since March when the Washington crop sold out to find out when the next would become available.

“People are extremely eager to learn when they can find this apple again,” said James Milne, Executive Director of Marketing. “We’re excited to tell our passionate Envy seekers where they can buy it, instead of asking them to be patient until the fresh crop is back.” 

Oppy stated that retailers should promote Envy at several points throughout the summer season, to ensure that the apple will entice customers with its flavor and color.

The New Zealand Envy apple will be available in retail markets in early June, and continue with New Zealand and Chile crops through September. 

Stay with AndNowUKnow as we harvest the latest in industry news and crop updates.

Oppy