Sunkist Revenue Tops $1 BillionFriday, February 22, 2013
Sunkist Growers Inc., a cooperative of citrus farms based in Sherman Oaks, announced that 2012 was its third straight billion-dollar year in revenue.
At the organization’s annual meeting on Feb. 20, it also announced total payments to its members of $840 million in 2012, compared to $803 million in 2011.
Sunkist attributes some of its growth last year to a new partnership with juice processor Ventura Coastal, which Sunkist said helped improve its juice business. In addition, the company launched an annual dividend program for its growers last year, first payments of which Sunkist plans to distribute next month.
“We’re 120 years old but feel like we’re just getting started,” said Chief Executive Russell Hanlin in a statement.
Sunkist was founded in 1893 and is the oldest continually operating citrus cooperative in the country, with thousands of citrus farmers in California and Arizona.