Ocean Spray Cranberries, Inc., a grower-owned agricultural cooperative, today released its fiscal 2012 financial results, which included the highest net sales in the company’s history and strong growth in net proceeds paid to its growers.
Randy Papadellis, Ocean Spray’s President and Chief Executive Officer, said: “Our fiscal 2012 financial results reflect strong performance amid a sluggish economy and volatile marketplace and continue a trend–over the past four years Ocean Spray has delivered record-highs in sales and profits, as well as in returns for our grower-owners.”
These positive results were driven by the strength of the Ocean Spray brand, continued product innovation, in-store marketing and promotions, ongoing focus on operating efficiency and risk management and the pursuit of strategic business partnerships.
“For the past decade, Ocean Spray has been pursuing business initiatives against two goals: increasing the value of our members’ farms and increasing the value of the company itself,” added Papadellis. “I’m pleased to say that, while we’ve faced many roadblocks, we’ve been able to achieve both goals while meeting consumer preferences for high quality food and beverage products.
Ocean Spray achieved a number of business advancements in Fiscal Year 2012, including:
For a copy of Ocean Spray’s 2012 Annual Report, please email the media contacts listed below.
Ocean Spray is an agricultural cooperative owned by more than 700 cranberry growers in Massachusetts, Wisconsin, New Jersey, Oregon, Washington, British Columbia, and other parts of Canada as well as 35 Florida grapefruit growers. Ocean Spray was formed over 80 years ago by three cranberry growers from Massachusetts and New Jersey. Florida grapefruit growers joined the Cooperative in 1976. Ocean Spray is North America’s leading producer of bottled juices and juice drinks, and has been the best-selling brand name in the bottled juice category since 1981. Ocean Spray posted fiscal 2012 gross sales of $2.2 billion and net proceeds of $338 million.