Strong growth, sales, grower returns for Ocean Spray in 2013
Highlights included:
-For the fiscal year ending August 31, 2013, Net Sales of $1.66 billion, on par with the Cooperatives record high in fiscal year 2012.
-Fiscal year Net Proceeds Available to Common Shareholders of $380 million, up 15.5% over the prior year.
-A record $326.0M in returns paid to A Pool Grower-Owners for Pool Year 2011, which closed in March 2013; during this fiscal year, Ocean Spray's A-Pool paid $60.53 per barrel; its B-Pool paid $28.67 per barrel; and its Citrus Pool paid $1.65 per fruit solid pound.
-Ocean Spray's Ingredient Technology Group (ITG) dried cranberry business experienced particularly strong growth for the year in both domestic and international markets, surpassing the 100 million pound mark for the first time.
"This was a strong year for Ocean Spray in terms of continuing to deliver a premium to our grower-owners and advancing a number of strategic initiatives that will grow our business at home and abroad," said Randy Papadellis, Ocean Spray's President and Chief Executive Officer. "We have one of the world's strongest brands working on our behalf and we will continue to invest aggressively in business-building opportunities to promote growth across all of our business segments."
Over the next several years, Ocean Spray plans to focus on continuing to grow its dried cranberry business, expanding its cranberry food and beverage portfolio to meet new consumer needs both domestically and abroad, as well as continued investment in cranberry health research. Ocean Spray also plans to bring its new beverage facility in the Lehigh Valley of Pennsylvania online in the first quarter of 2014.
For more information:
Kellyanne Dignan
Ocean Spray
Tel: +1 508-923-3205
Email: KDignan@oceanspray.com
www.insidethecranberry.com