Florida's Natural Celebrates 75 Years with Record Pe... ( The 75th Ann...)

Florida's Natural Celebrates 75 Years with Record Performance

Date:11/24/2008

The 75th Annual Stockholders Meeting of Florida’s Natural Growers was held at the Lake Wales Country Club on Monday, the 17th of November. The theme of this year’s meeting, “Growing Returns and Stakeholder Value,” was appropriate since the Cooperative reported one of the highest Orange Returns in its history, despite an extremely challenging economic environment. In fact, Chairman Dick Fort stated, “When considering the fruit returns and the growth to members equity, it is no exaggeration to say that 2007 and 2008 have been the best back-to-back seasons in the history of Florida’s Natural Growers.”

LAKE WALES, Fla. (Business Wire EON) November 24, 2008 -- Chip Hendry, Chief Financial Officer, reported that, in addition to generating Orange Returns on Early/Mids at $1.48 per pound solid, Valencia at $1.71 per pound solid, and Grapefruit at $.92 per pound solid, the Company generated a profit on non-member business that significantly strengthens the Co-op's balance sheet.

Steve Caruso, Chief Executive Officer, said that despite unprecedented cost increases for energy, operations were successful in managing costs through productivity increases.

Walt Lincer, Vice President of Sales and Marketing, reported, "Overall sales grew 2% and Florida's Natural Brand slightly outperformed the NFC category. Both Net and Gross sales set all time records."

Lincer detailed a major multi-media campaign to inform consumers that, unlike the other national juice brands, Florida's Natural Brand only uses domestic orange juice from Florida. The Company will use cable television and Internet banner advertisements to show the point of difference. The ads feature the iconic Farmer Dave dispensing homespun witticisms while p
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