US fresh produce group Vaughan Foods has seen its third-quarter results boosted by the June acquisition of Allison’s Gourmet Kitchens.
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Vaughan, the salads-to-sauces firm, posted operating income of US$432,000 for the three months to the end of September. The company booked a loss of $312,000 a year earlier.
Net sales leapt 58% to $20.5m thanks, Vaughan said, to the acquisition of Allison’s, a salads and desserts firm earlier this year.
On an organic basis, Vaughan said revenue rose 4.2% due to a price hike on its lettuces.
Chairman and CEO Herb Grimes said: “Clearly, the inclusion of Allison’s, a higher margin business, contributed to our improved profitability in the quarter.
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By GlobalData“But, the marked improvement in gross margin also reflects our successful efforts to develop a more profitable customer base, higher quality control and greater labour efficiencies.”
