Inventure Foods, Inc. manufactures and markets healthy/natural and indulgent specialty snack food brands. Segments The company operates in two segments, Frozen Products and Snack Products. The Frozen Products segment produces frozen fruits, vegetables and beverages for sale primarily to groceries, club stores and mass merchandisers. All products sold under Frozen Products segment are part of the healthy/natural food category. The Snack Products segment produces potato chips, kettle chips, potato crisps, potato skins, pellet snacks, sheeted dough products and extruded products for sale primarily to snack food distributors and retailers. The products sold under Snack Products segment include products that are part of the indulgent specialty snack food category, as well as products that are part of the healthy/natural food category. Products In the healthy/natural food category, the company’s products include Rader Farms frozen berries, Boulder Canyon Natural Foods brand kettle cooked potato chips, Willamette Valley Fruit Company frozen fruit and vegetables, Fresh Frozen vegetables and fruits, Jamba branded blend-and-serve smoothie kits under license from Jamba Juice Company, Seattle’s Best Coffee Frozen Coffee Blends branded blend-and-serve frozen coffee beverage under license from Seattle’s Best Coffee, LLC and private label frozen fruit and healthy/natural snacks. In the indulgent specialty snack food category, the company’s products include T.G.I. Friday’s brand snacks under license from T.G.I. Friday’s Inc., Nathan’s Famous brand snack products under license from Nathan’s Famous Corporation, Vidalia brand snack products under license from Vidalia Brands, Inc., Poore Brothers kettle cooked potato chips, Bob’s Texas Style kettle cooked chips, and Tato Skins brand potato snacks. During 2013, the company launched new items under its existing brands. In its Frozen Products segment, new products included Jamba Green Fusion and Seattle’s Best Coffee Frozen Coffee Blends, such as Coffee Chiller, Mega Mocha, Creamy Caramel and Very Vanilla. The company also added Rader Farms Organic Blackberries, Organic Mangos and Organic Cherries to its product line. In its Snack Products segment, new items included Boulder Canyon Natural Foods Sweet Potato Fries; Avocado Oil Sea Salt Kettle Chips; Olive Oil Sea Salt and Cracked Pepper Kettle Chips and Organic Sea Salt Kettle Chips; T.G.I. Friday’s Jalapeno Poppers and Extreme Heat Hot Fries; and Nathan’s Famous Bacon & Cheddar. The company also launched Vidalia Sweet Potato Fries under its license agreement with Vidalia Brands, Inc. Strategy The company’s business strategy is to continue building a diverse portfolio of healthy/natural food brands and indulgent specialty snack food brands through expansion of existing brands, licensing, acquisition and development. The primary elements of its long-term business strategy are as follows: developing, acquiring or licensing innovative healthy/natural and indulgent specialty snack food brands; broadening distribution of existing brands; broadening distribution of private labels; developing new products for existing brands; leveraging infrastructure and capacity; pursuing acquisitions; and improving profit margins. Marketing and Distribution The company’s products are sold through a number of channels, including grocery, natural, mass merchandisers, drug, club, value, vending, food service, convenience store, industrial and international. The company’s products are distributed through company-owned and satellite warehouses, direct store delivery, distribution centers and other facilities. Patents and Trademarks The company owns the following trademarks in the United States: Boulder Canyon, Canyon Cut, Rader Farms, Poore Brothers, Intensely Different, Texas Style, Tato Skins, O’Boisies, Pizzarias, Braids, Willamette Valley Fruit Company and Fresh Frozen. Seasonality Consumers tend to purchase its snack products at higher levels during the major summer holidays and also at times surrounding major sporting events throughout the year. Additionally, smoothie sales tend to peak during the warmer summer months. The company’s industrial berry business at Willamette Valley Fruit Company is slower during the first quarter of the year. Research and Development The company recorded $0.3 million in the year 2013 for research and development costs. Customers Costco accounted for 35% of the company’s net revenues in 2013. Its customers include grocery chains, club stores, regional distributors, and other manufacturers. Competition The company’s competitors include Townsend Farms, Inc.; Sunopta Inc.; Cascadia Farm of Small Planet Foods, Inc.; Wyman’s of Maine; and Dole Food Company, Inc. It also competes with the Birds Eye Frozen division of Pinnacle Foods, Inc.; General Mills, Inc.; The Pictsweet Company; Hanover Foods Corp.; Yoplait of General Mills, Inc.; and Dole Food company, Inc. History Inventure Foods, Inc. was founded in 1986.
inventure foods inc (SNAK:NASDAQ GS)
5415 East High Street
Phoenix, AZ 85054
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