AgEx.com successfully hosted three private auctions today for food giant The Pillsbury Company.
AgEx.com said Pillsbury held auctions for natural gas, carbon dioxide and peanuts. The auctions were held on AgEx.com’s agauctionEx site, where buyers or sellers can host auctions with selected participants.
“We’re excited that Pillsbury has joined the growing family of world-renown food companies that are using AgEx.com and our agauctionEx site to purchase their supplies,” said Blair Richardson, AgEx.com vice president for auction services. “Today’s auctions clearly demonstrated that our experience and flexible technology can make us a full-service source for the wide variety of products purchased by companies such as Pillsbury.”
Richardson said there were between two and seven participants in each auction and that the auctions averaged 20 minutes in length. AgEx.com acts as a neutral third-party host and provides support services such as managing the auction and training participants.
“We’re very pleased by the results,” said Alfred Chan, Director – eSourcing/ Logistics and Strategic Sourcing for Pillsbury. “One of the key reasons we were able to work successfully with AgEx.com is because they combine excellent technology with extensive background in the food and agriculture industries. They understood what we needed and how to make it happen.”
AgEx.com is the largest online agricultural exchange site. In addition to its private auction site, agauctionEx, AgEx.com currently offers trading floors or information sites for almonds, walnuts, rice, tomatoes, juice concentrates, apples and pulses (dry beans and peas).
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Pillsbury is the packaged food division of Diageo (NYSE: DEO; London: DGE), one of the world’s leading consumer brand companies. Pillsbury produces a range of grocery items, frozen foods, and refrigerated dough products for worldwide consumer markets, including North America, Europe, Latin America and the Far East. The company’s portfolio of leading brands includes Pillsbury, Green Giant, Old El Paso, Haaagen-Dazs, Progresso, Hungry Jack and Totino’s.
AgEx.com was recently chosen by Forbes Online as one of the Web’s best agricultural sites. Based in Sacramento, California with offices in San Francisco, New York, Toronto and major agricultural centers around the world, the company recently completed a $6.5 million second round of funding.