Sunkist has announced revenue of US$1bn for the 2013 calendar year, with grower payments totaling US$$873m. It marks the fourth consecutive US$1bn year for the US citrus conglomerate, with grower returns up US$35m on 2012.
“Over the past year, we have made significant advances on key strategic initiatives to position Sunkist for long-term growth and profitability,” said Sunkist president and CEO Russell Hanlin.
“Acreage increases, the launch of the grower distribution program, the first year of our Ventura Coastal joint venture juice partnership, for-profit business gains and the headquarter building sale were significant business highlights of 2013.”
As a result of cost containment efforts and positive results, Sunkist launched the grower distribution program in 2013 to directly share annual earnings with the cooperative’s grower members.
Sunkist’s for-profit businesses also made positive advances in the past year. “Our licensing team continues scouring the globe for opportunities and, as a result, Sunkist signed five new licensees in 2013,” added Hanlin.
With 49 licensees in total, the Sunkist brand is used to market 800 products in 86 countries. This varietal portfolio is continually evolving, according to Mark Gillette, re-elected chairman of Sunkist’s Board of Directors.
“Our growers are expanding production of newer varieties that consumers favor to position Sunkist for further growth in the current marketplace,” Gillette said.
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