U.S.: Sunkist grower payments up by a quarter in 2014
Revenue surpassed US$1 billion for the largest citrus shipper in the U.S. last year, bolstered by a growing licensing program overseas and a juice processing partnership. 
During an annual general meeting yesterday, California-based Sunkist Growers said grower payments rose 26% to US$1.1 billion for 2014.
"An extended cold period in December 2013 posed challenges, but the dedication and hard work of our growers and shippers, in combination with a disciplined sales strategy, allowed us to achieve positive results," said Sunkist president Russell Hanlin.
"Our for-profit businesses continue to contribute positive revenue streams and also help position Sunkist for future success."
The cooperative highlighted its licensing agreement reached with India's Future Consumer Enterprise Ltd (FCEL), one of the fastest growing retail and consumer packaged good companies in South Asia, while partnerships in other significant global markets like Brazil also raised the profile of the brand.
The group currently has 49 licensees in total, with the Sunkist brand used to market around 700 products in 77 countries.
"We also continued to realize the benefits of our juice processing partnership, which has resulted in improved by-products earnings, more timely payments and significant contributions to our grower distributions," Hanlin said.
"In the third year of this partnership, Sunkist's business arrangement with Ventura Coastal continues to be important in our efforts to optimize efficiencies, and we look forward to continued strong results to benefit growers."
Gillette Citrus Inc. president Mark Gillette was re-elected as Sunkist chairman during the meeting.
"We are pleased to be recognizing our success last year, but more importantly, we are optimistic about the future of the cooperative as a result of the strategic initiatives that Sunkist has undertaken," Gillette said.
"Sunkist is the leading brand for California fresh citrus and we look forward to continuing to provide high-quality fruit to our partners worldwide."
Photo: www.shutterstock.com
Subscribe to our newsletter
