JBSS completes acquisition of Orchard Valley Harvest
ELGIN, Ill. John B. Sanfilippo & Son, the distributor of such brands as Fisher and Texas Pride, has acquired one of the leading suppliers of branded and private-label nut and dried fruit products.
JBSS said it completed its acquisition of Orchard Valley Harvest, based in Modesto, Calif. Under terms of the agreement, JBSS paid $32.8 million in cash funded from excess availability in the JBSS bank credit facility. JBSS may also pay amounts of up to $10.5 million, contingent upon performance of the acquired business for the 2010 and 2011 calendar years.
“The acquisition of OVH fulfills a key pillar in JBSS’ five year strategic plan by significantly increasing our presence in the produce section of food retailers,” said Jeffrey Sanfilippo, chairman and CEO of JBSS. “The perimeter of the store is where retailers have been increasingly focusing their time and investment and where consumers have more frequently been purchasing fruit and nut products. The acquisition of OVH provides JBSS with meaningful product and packaging diversity and significant access to one of the fastest growing channels for nut and dried fruit products.”
Presidente Beer expands U.S. market presence with campaign
MIAMI A Hispanic and multicultural marketing firm has been tapped to boost a popular Dominician Republic beer’s U.S. market presence.
Presidente Beer is seeking to advance its brand with the help of ViVA Partnership to help advance the brand to a leadership position for imported Latin beers. The new Presidente Beer integrated campaign is set to launch in June in select markets, initially targeting South Florida residents and U.S. tourists traveling to the Caribbean, ViVA Partnership said.
“The goal is to integrate multiple online/offline elements that are so fluid it’s impossible to detect any boundaries between what takes place online and the experience for consumers offline,” said Linda Lane Gonzalez, ViVA Partnership CEO. “Each component works toward establishing a relationship with the consumer. From a Facebook fan page to online experiences with games, downloads, screensavers, contests and virtual gifts to real-life encounters on the beach, or cruise ships, everything is tied together with a central strategy.”
Jelly Belly rolls out cocktail-inspired candy
FAIRFIELD, Calif. Jelly Belly is looking to redefine “happy hour” with a new line of jelly bean flavors.
Jelly Belly’s new Cocktail Classics line features the flavors of consumers’ favorite cocktails. Three new flavors — mjoito, pomegranata cosmo and peach bellini — join other cocktail-inspired jelly beans that have been part of the Jelly Belly family for two decades: margarita, pina colada and strawberry daquiri.
Jelly Belly Cocktail Classics will hit retail shelves nationwide in bulk flavors, gift boxes and bags in June. These and all Jelly Belly beans are gluten-free, dairy-free, gelatin-free, vegetarian and OU Kosher.