Sunkist Growers has announced the cooperative's fifth consecutive billion-dollar revenue year, with 2014 grower payments increasing to US$1.1bn from US$873m in 2013.
'An extended cold period in December 2013 posed challenges, but the dedication and hard work of our growers and shippers, in combination with a disciplined sales strategy, allowed us to achieve positive results,' said Sunkist president and CEO Russell Hanlin.
Sunkist issued its second grower distribution in 2014, a programme made possible by strong results from Sunkist's for-profit businesses. 'Our for-profit businesses continue to contribute positive revenue streams and also help position Sunkist for future success,' added Hanlin.
Sunkist's licensing programme continues to grow, the group confirmed, with the cooperative announcing a licensing agreement with India's Future Consumer Enterprise in 2014, one of the fastest growing retail and consumer packaged goods companies in India.
New partnerships in India and other significant global markets such as Brazil continue to extend the prominence of Sunkist's brand globally. With 49 licensees in total, the Sunkist brand is used to market approximately 700 products in 77 countries.
The completion of Sunkist's corporate office move from Sherman Oaks to Valencia, California in September was another significant event for the cooperative. The relocation, offering an investment opportunity, was seen as further strengthening Sunkist's financial position while also bringing the cooperative headquarters closer to its growers.
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