US co-op Blue Diamond Growers has booked “record” annual sales thanks, it said, to moves to build its “value-added” business, including its consumer brand.
The company posted sales of US$1.2bn, up 18.7% on the year, the co-op said yesterday (20 November).
Blue Diamond does not report profits. “Blue Diamond is a co-operative owned by over half of California’s almond growers. All proceeds after operating expenses go back to the growers,” a spokesperson told just-food.
The co-op said value-added sales volumes were up 14%. Revenue from value-added products, including manufactured ingredients and consumer-facing products, account for over 60% of Blue Diamond’s sales.
“We accelerated our transformation into a global branded food manufacturing company, while making significant investments to ensure continued profitable growth,” president and CEO Mark Jansen said.
Jansen said Blue Diamond had worked to improve margins through work on processing lines. “Margin enhancements fuel our investments in new facilities, breakthrough advertising, and global markets,” he added.