admin

AAK Completes Divestment of NJ Foodservice Facility

Published January 2, 2025

On Oct. 23, AAK announced an agreement to divest its foodservice facility located in Hillside, N.J. The transaction was finalized on Dec. 31, resulting in a one-time positive cash flow impact of approximately $600 million Swedish krona in the fourth quarter of 2024. The divestment is not anticipated to have a material effect on the company’s profit and loss statement.

In 2024, the Hillside facility represented about 5 percent of AAK’s total volumes and approximately 1 percent of its operating profit. As a result, the divestment is expected to increase the group’s operating profit per kilo by approximately 4 percent, assuming no other changes.

On Oct. 23, the same day the divestment of Hillside was announced, AAK also outlined plans to invest in a new facility to replace its existing foodservice site in Dalby, Sweden. While the plans are still being finalized, the company confirmed that the new site is expected to be located in Staffanstorp, representing a significant step in itss efforts to strengthen and future-proof foodservice operations across Europe.

AAK specializes in plant-based oils that are the value-adding ingredients in the products people love to consume. At the heart of AAK’s offering is Customer Co-Development, combining a desire to understand what better means for each customer with the unique flexibility of our production assets and deep knowledge across products and industries.

AAK’s 4,200 employees support its close collaboration with customers through 25 regional sales offices, 15 dedicated Customer Innovation Centers and support of more than 20 production facilities. Listed on Nasdaq Stockholm and with headquarters in Malmö, Sweden, AAK has been Making Better Happen for more than 150 years.

For more news of interest to the foodservice industry, subscribe to Gourmet News.

Southern Glazer’s Acquires Horizon Beverage Group

Published December 30, 2024

Southern Glazer’s Wine & Spirits—the world’s preeminent distributor of beverage alcohol—today announced the successful closing of its acquisition of substantially all of the assets of Horizon Beverage Group, Inc., one of New England’s premier alcohol distributors, including all of Horizon’s operations and wine, spirits and beer portfolio. Effective immediately, Horizon’s operations in Massachusetts and Rhode Island will operate under the name Southern Glazer’s Beverage Company.

The acquisition marks an exciting expansion for Southern Glazer’s, adding Massachusetts and Rhode Island as the 46th and 47th markets in its U.S. footprint, alongside operations in Canada and the Caribbean.

“With this acquisition, we’re combining Horizon’s deep regional expertise with Southern Glazer’s advanced technology and robust resources,” said Wayne E. Chaplin, Chief Executive Officer, Southern Glazer’s Wine & Spirits. “We are excited to bring customers and suppliers enhanced tools, data insights, and service offerings that position us to meet and exceed their needs in these vital markets.”

Both Massachusetts and Rhode Island markets will operate as part of Southern Glazer’s East Region, led by Scott Oppenheimer, East Region president.

“We are grateful to Horizon’s employees, customers, and partners for so many years of success, and this transition represents an even brighter future for all,” said Bob Epstein. “We’re confident that Southern Glazer’s strength and scale will not only support a smooth integration, but also create new opportunities for growth and success.”

“We’re committed to maintaining the exceptional service that Horizon is known for while bringing the added benefits of being part of the Southern Glazer’s family,” added Jim Rubenstein. “This partnership ensures stability and growth for all stakeholders and strengthens our ability to deliver value across the board.”

Southern Glazer’s Wine & Spirits is the world’s preeminent distributor of beverage alcohol, building brands for moments that matter. The multi-generational, family-owned Company has operations in 44 U.S. states, the District of Columbia, and Canada, as well as brokerage operations through its WEBB Banks division in the Caribbean, Central and South America. In 2024, Southern Glazer’s was recognized by Newsweek as one of America’s Greatest Workplaces for Diversity and America’s Greatest Workplaces for Women. Southern Glazer’s urges all retail customers and adult consumers to market, sell, serve, and enjoy its products responsibly. For more information visit www.southernglazers.com. Follow us on Facebook, Twitter and Instagram @sgwinespirits.

For more news of interest to the beverage alcohol industry, subscribe to Gourmet News.

NatureSweet Donates 3.5M Pounds of Produce to Food Banks

Published December 30, 2024

NatureSweet is proud to announce the donation of 3.5 million pounds of fresh produce to food banks throughout North America in 2024, providing vital support to those in need. The donated tomatoes, cucumbers, and sweet peppers were distributed to food banks in both the United States and Mexico, providing more than 2.9 million meals.

“Amid a year marked by record inflation and soaring food prices, we are committed more than ever to offering nourishment to families facing financial hardship,” says Rodolfo Spielmann, president and CEO of NatureSweet. “Our donations of fresh produce will not only feed but also uplift those who are struggling, providing much-needed relief during these difficult times. We are incredibly proud to support food banks both locally and across the continent. We will continue our efforts to provide fresh, nutritious NatureSweet produce to those in need, now and in the years ahead.”

In 2024, approximately two million pounds of produce were donated to the San Antonio Food Bank, which has been instrumental in providing food to families in San Antonio, where NatureSweet is headquartered. According to the SAFB, this donation has helped provide 1.9 million meals to local families. NatureSweet was honored by the SAFB in 2022 with the “Hunger Fighter of the Year” award for its ongoing contributions to the Gift of Food initiative. More than one million pounds were donated to Bancos de Alimentos de México, a network of food banks in Mexico that helps vulnerable communities.

As part of its continued mission to fight hunger, NatureSweet remains dedicated to strengthening its partnerships with food banks and enhancing its support for communities in need across North America.

NatureSweet, the leading brand in snacking tomatoes, is your single-source solution for greenhouse-grown vegetables. As the largest vertically integrated controlled environment agriculture company in North America and greenhouse grower, NatureSweet owns over 1,400 acres of greenhouse space.

With a dedicated team of approximately 9,000 Associates, we carefully grow, harvest, and package a variety of fresh vegetables, both organic and conventional, including tomatoes, cucumbers, and sweet peppers. Available in major retailers across the U.S., Mexico, and Canada, our produce is handpicked at peak freshness to ensure superior quality. Committed to making a positive social, environmental, and economic impact, NatureSweet’s purpose is to transform the lives of millions of agricultural workers through a scalable and profitable business model. Our dedication to sustainability and social responsibility is reflected in our B Corp, Fair Trade and Equitable Food Initiative (EFI) certifications.

For more news of interest to the produce industry, subscribe to Gourmet News.