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TRANSITION
BC TREE FRUITS
ANNOUNCEMENT
ANNOUNCEMENT
PRIVATE EQUITY COMPANY
BUTTERFLY AGREES TO PURCHASE
BOLTHOUSE FARMS
Butterfly, a Los Angeles-based private equity firm specializing in the food sector, signed a definitive agreement to acquire Bolthouse Farms from Campbell Soup
Company for $510
million in cash.
The closing of the
deal is subject to
regulatory approvals
and is expected to
occur this summer.
Butterfly operating
partner Jeff Dunn will assume the role of chief executive at Bolthouse, where he previously served as president and chief executive from 2008 until 2012, when it was acquired by Campbell Soup Company. Bolthouse, based in Bakersfield, CA, has leading market positions in fresh carrots and refrigerated premium beverages in the U.S., along with a strong presence in refrigerated salad dressings.
ANNOUNCEMENT
SETTON FARMS SPICES UP PISTACHIO
INDUSTRY WITH SEASONED KERNELS
Setton Pistachio of Terra Bella, Inc., a branch of Setton Farms in California, has added a line of Seasoned Pistachio Kernels to its growing selection of pistachio offerings. The Seasoned Pistachio Kernels, which premiered at the Natural Products Expo West, are available at Kroger, Dillons, Ralphs, and Roundy’s, as well as other retail locations nationwide. Five varieties include: Chili Limón, Chipotle BBQ, Garlic Onion, Jalapeño, and Salt & Pepper. Each resealable bag contains three ounces of premium shelled pistachios that contain no artifi- cial colors, flavors or preservatives.
ANNOUNCEMENT
INVESTMENT FIRM APOLLO
REPURCHASES SMART & FINAL
STORES FOR $1.12 BILLION
Apollo Global Management, which formerly owned Smart & Final Stores, has agreed to repurchase the company for $1.12 billion in an all-cash merger agreement for $6.50 per share. Apollo, a private equity
firm, had
purchased
Commerce,
CA-based Smart & Final in 2007 but sold it in 2012 to Ares Management, which maintained majority ownership as Smart & Final went public in 2014. “We look forward to working with the management team, as well as the over 12,000 team members to capitalize on the company’s position in the market- place,” says Andrew Jhawar, senior partner and head of the consumer and retail group at Apollo. Smart & Final has more than 300 stores, including more than 60 foodservice warehouse stores.
Todd McMyn
BC Tree Fruits, Kelowna, British Columbia, recently appointed
two new senior executives – Todd McMyn as chief executive and Ross Dwhytie as chief financial officer (CFO). McMyn previously led a successful manufacturing and trading corporation involved in high-tech products infrastructure,
while consulting on various agricultural and farming projects globally. He has travelled to more than 50 countries, setting up distribution and business. He has participated in international trade missions with the BC government and has been trained and instituted Total Quality Management manufacturing standards with a number of global companies. “I am excited for the future of our Cooperative, and l want to ensure we are leaders in the industry not only
in the Okanagan Valley and British Columbia, but worldwide, “says McMyn.
TRANSITION
FIVESTAR GOURMET FOODS
TAYLOR FARMS ACQUIRES EARTHBOUND FARM TO PUSH GROWTH IN FRESH ORGANIC CATEGORY
Taylor Farms, Salinas, CA, acquired Earthbound Farm from Danone, SA. Earthbound Farm, one of the largest producers of organic salads in the United States, will join the Taylor Farms Retail Group and help lead growth in the dynamic organic fresh produce category. “We will build on Earthbound Farm’s tradition of organic authenticity, new variety development and quality focus with expanded regional organic growing and processing capability to better serve Earthbound Farm’s customers and consumers across North America,” Taylor Farms said in a statement. “We are grateful for Danone’s stewardship of Earthbound Farm during the past two years and for the opportunity to return owner- ship of this organic fresh produce leader to local roots and family ownership.”
TRANSITION
ALLEN LUND COMPANY
Kristyn Lawson
Kate Brooks
FiveStar Gourmet Foods, the Ontario, CA-based producers of the Simply Fresh brand, named Kristyn Lawson senior vice president of sales and named Kate Brooks as vice president sales East. Lawson previously was vice president of sales at Good Foods, VP of sales at Yucatan Foods and regional manager with Marie’s Salad Dressings and Dips. Brooks will be responsible for developing strategic sales plans and programs in collaboration with customer partners. She was formerly director of prepared foods at Renaissance Food Group, where she led all prepared foods strategy
Allen Lund Company, Flintridge, CA, is opening a new office in Indi- anapolis that will be led by Trent Roberts, who formerly worked as a director of sales for a logistics company. “We are excited Trent will be joining our team,” says Jim McGuire, executive vice president of sales and branch operations.
development, account management and program design. Prior to that she was director of business development for Taylor Farms.
ANNOUNCEMENT
Trent comes to us with many years of experience, and we are confident he will build a strong team in a city with so much opportunity.”
SPROUTS CONTINUES RAPID EXPANSION IN SOUTHEAST, EASTERN REGIONS
Sprouts Farmers Market, headquartered in Phoenix,
says it plans to open 13 new stores during the second half
of 2019, including five Florida locations and its first store in Virginia. By the end of the year, Sprouts will operate 340 stores in 22 states, including these new ones: Maryland: Bel Air; Florida: Deerfield Beach, Jack- sonville, Jupiter, Riverview, New Port Richey; North Carolina: Greensboro; Virginia: Herndon; Arizona: Laveen; California: Lake Forest, Vista, West Covina, West Hollywood.
The Deerfield Beach, New
Port Ritchey, Jacksonville,
Jupiter and West Covina stores
will feature Sprouts’ newest operational and design enhancements that highlight department destinations and promote customer engagement throughout the store. Each new store will bring approximately 140 new career opportunities to its local neighborhood.
Trent Roberts
Produce & Floral Watch are regular features of Produce Business. Please send information on new products, personnel changes, industry, corporate and personal milestones and available literature, along with a high resolution image to: Managing Editor, Produce Business, P.O. Box 810425, Boca Raton, FL 33481-0425 or email us at info@producebusiness.com
PRODUCE BUSINESS / MAY 2019 / 7