Rader Farms Reports Exceptional Crop
September 23 2009 - 8:30AM
PR Newswire (US)
PHOENIX, Sept. 23 /PRNewswire-FirstCall/ -- The Inventure Group
Inc. (NASDAQ:SNAK), a leading specialty snack food marketer and
manufacturer, today announced an exceptional crop in its wholly
owned subsidiary Rader Farms. "Rader Farms, along with the rest of
the industry, had a very strong crop of berries this year," said
Terry McDaniel, Chief Executive Officer of The Inventure Group.
"Accordingly, the abundance of industry supply has affected Rader's
business in several ways. First, we anticipate lower revenue in the
third quarter of this year as consumers switch to lower priced
fresh berries. Secondly, short term pricing pressure will lower
Rader revenue growth in the near term as compared to historical
levels. That said, our strong crop will offset the bottom line
impact of lower pricing as we will be able to purchase fewer
outside berries and maintain historical profitability levels.
Demand for Rader berries remains strong as unit sales will be in
line with or greater than historical norm. Although we do expect
industry wide pricing pressure to continue over the course of the
next 12 months, we remain highly optimistic as we continue to add
new customers and increase store count with existing customers such
as CostCo domestic and international for the tail end of the 4th
quarter followed by the first quarter 2010 roll out of the Jamba
Juice line of smoothies." About The Inventure Group, Inc. With
manufacturing facilities in Arizona, Indiana and Washington, The
Inventure Group is a marketer and manufacturer of Intensely
Different(tm) specialty brands in indulgent and better-for-you food
categories under a variety of Company owned and licensed brand
names, including T.G.I. Friday's(r), BURGER KING(tm), Rader
Farms(r), Boulder Canyon(tm) Natural Foods, Poore Brothers(r), Tato
Skins(r) and Bob's Texas Style(r). For further information about
The Inventure Group visit http://www.inventuregroup.net/.
Statements contained in this press release that are not historical
facts are forward-looking statements as that term is defined in the
Private Securities Litigation Reform Act of 1995. Because such
statements include risks and uncertainties, actual results may
differ materially from those expressed or implied by such
forward-looking statements. Factors that may cause actual results
to differ from the forward-looking statements contained in this
press release and that may affect the Company's prospects in
general include, but are not limited to, the potential need for
additional financing, acquisition-related risks, significant
competition, customer acceptance of new products, dependence upon
major customers, dependence upon existing and future license
agreements, general risks related to the food products industry,
deteriorating economic conditions, and such other factors as are
described in the Company's filings with the Securities and Exchange
Commission. DATASOURCE: The Inventure Group Inc. CONTACT: Steve
Weinberger, Chief Financial Officer of The Inventure Group, Inc.,
+1-623-932-6200 Web Site: http://www.inventuregroup.net/
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