Sunkist annual revenue passes $1 billion again - The Packer

Sunkist annual revenue passes $1 billion again

03/20/2012 03:04:00 PM
Mike Hornick

For a second straight year, Sunkist Growers’ revenue passed the $1 billion mark in 2010-11.

Russell Hanlin, chief executive officer, reported gains in several categories at Sunkist Growers’ annual meeting March 1 at its Sherman Oaks, Calif., headquarters.

Grower payments for crops sold reached $803 million, up $14 million from the prior year, according to a news release. Citrus juice and oil sales generated $88 million, the most in more than 10 years.

“Your cooperative is in excellent financial shape and is extremely well capitalized with close to $80 million in member equity and virtually no debt,” Hanlin said in the release.

To produce those results, sales agents had to move California’s largest-ever navel orange crop at 93 million cartons, and overcome rainfall-related impacts on quality. Sales increases were also reported for valencias, lemons, limes, grapefruit, mandarins and tangerines.

Sunkist expects more growth in its juice and oils business to result from the Feb. 1 start of a joint processing venture with Ventura Coastal. Sunkist processes at Tipton, Calif.; Ventura Coastal, at Visalia.

Directors named

  • Mark Gillette, president of Sunkist affiliate Gillette Citrus Inc., Dinuba, was elected to his second year as board chairman at the annual meeting.
  • Nick Bozick, president of Mecca-based Richard Bagdasarian Inc., and Gerald Denni, general manager of Strathmore-based Golden Valley Citrus and co-owner of Mittman-Denni Citrus Management, were elected vice chairmen. James Finch, who came to the Sunkist board in 2004 from the Saticoy Fruit Exchange, was also elected vice chairman.
  • New directors for 2012-2013 are Robert Davis III, Ojai, Villa Park Citrus Exchange; Robert Grether, Somis, Saticoy Fruit Exchange; Warren Lyall, Pauma Valley, Villa Park Citrus Exchange; and Scott McIntyre, Temecula, Kaweah-Oxnard Fruit Exchange.



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