MIRA INFORM REPORT
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Report Date : |
28.11.2013 |
IDENTIFICATION DETAILS
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Name : |
BLUE DIAMOND GROWERS |
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Registered Office : |
1802 C St, Sacramento, CA 95811-1099 |
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Country : |
United States |
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Year of Establishment : |
1910 |
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Legal Form : |
Private Parent Company |
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Line of Business : |
Subject is the largest tree nut processing and marketing companies
worldwide |
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No. of Employees
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1500 |
NOTES:
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30th, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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United States |
a1 |
a1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name & address
Blue Diamond Growers
1802 C St
Sacramento, CA 95811-1099
United States
Tel: 916-442-0771
Fax: 916-446-8691
Web: www.bluediamond.com
Synthesis
Employees: 1,500
Company Type: Private Parent
Corporate Family: 9
Companies
Incorporation Date: 1910
Financials in: USD
(Millions)
Reporting Currency: US
Dollar
Annual Sales: 709.0
Total Assets: NA
Business Description
Founded in 1910,
Blue Diamond Growers is one of the largest tree nut processing and marketing
companies worldwide. It maintains a network of approximately 3,000 almond
growers in California. The company provides almonds in whole natural, roasted
salted, honey-roasted and snack flavors. Blue Diamond Growers also offers
oven-roasted and cooking and baking almonds. It provides Almond Breeze, which
is a nondairy beverage. The company additionally features products under the
Smokehouse and Nut Thins brands. Blue Diamond Growers offers silvered, sliced
and whole almonds. The company operates an online store. It markets products
throughout the United States and more than 90 foreign countries.
Industry
Industry Food Processing
ANZSIC 2006: 1191 - Potato,
Corn and Other Crisp Manufacturing
NACE 2002: 158 - Manufacture
of other food products
NAICS 2002: 31191 - Snack Food
Manufacturing
UK SIC 2003: 158 - Manufacture
of other food products
US SIC 1987: 2068 - Salted and
Roasted Nuts and Seeds
Key Executives
(Emails Available)
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Name |
Title |
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Mark Jansen |
President, Chief Executive Officer and Director |
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Robert S. Donovan |
Chief Financial Officer |
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Dale Darling |
Director-International Retail Sales |
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Joe Potts |
Director-Information Services & Webmaster |
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Michele Golden |
Director-Purchasing |
News
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Title |
Date |
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Diamond Foods puts 2 execs on leave amid
payment probe |
9-Feb-2012 |
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Diamond Foods puts two top officers on
leave |
8-Feb-2012 |
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Board denies appeal of industrial
subdivision's OK |
7-Feb-2012 |
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Modesto manufacturing plants to close,
ending 265 jobs |
24-Jan-2012 |
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Idled truckers in West Sac get breakfast
and a day off |
13-Dec-2011 |
ABI Number:
404362188
1 - Profit & Loss Item Exchange Rate: USD 1 = USD 1
2 - Balance Sheet Item Exchange Rate: USD 1 = USD 1
Corporate Overview
Location
1802 C St
Sacramento, CA, 95811-1099
United States
Tel: 916-442-0771
Fax: 916-446-8691
Web: www.bluediamond.com
Sales USD(mil): 709.0
Assets USD(mil): NA
Employees: 1,500
Industry: Food
Processing
Incorporation Date: 1910
Company Type: Private
Parent
Quoted Status: Not
Quoted
President,
Chief Executive Officer
and Director: Mark
Jansen
Contents
· Industry Codes
· Business Description
· Brand/Trade Names
· Financial Data
· Key Corporate Relationships
· Additional Information
Industry Codes
ANZSIC 2006 Codes:
1191 - Potato, Corn and Other Crisp Manufacturing
NACE 2002 Codes:
158 - Manufacture of other food products
NAICS 2002 Codes:
31191 - Snack Food Manufacturing
US SIC 1987:
2068 - Salted and Roasted Nuts and Seeds
UK SIC 2003:
158 - Manufacture of other food products
Business
Description
Establishments
primarily engaged in performing services on crops, subsequent to their harvest,
with the intent of preparing them for market or further processing.
Establishments primarily engaged in buying farm products for resale to other
than the general public for household consumption and which also prepare them
for market or further processing are classified in Wholesale Trade.
More Business Descriptions
Founded in 1910,
Blue Diamond Growers is one of the largest tree nut processing and marketing
companies worldwide. It maintains a network of approximately 3,000 almond
growers in California. The company provides almonds in whole natural, roasted
salted, honey-roasted and snack flavors. Blue Diamond Growers also offers
oven-roasted and cooking and baking almonds. It provides Almond Breeze, which
is a nondairy beverage. The company additionally features products under the
Smokehouse and Nut Thins brands. Blue Diamond Growers offers silvered, sliced
and whole almonds. The company operates an online store. It markets products
throughout the United States and more than 90 foreign countries.
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%2028-Nov-2013_files/image001.gif){kind=small}
Credit Report as of 11/01/2011
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Location |
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1802 C St |
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County: |
Sacramento |
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MSA: |
Sacramento, CA |
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Phone: |
916-442-0771 |
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Fax: |
916-446-8691 |
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URL: |
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ABI©: |
404362188 |
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Annual Sales: |
$709,000,000 (USD) |
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Employees: |
1,500 |
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Facility Size(ft2): |
2,500 - 9,999 |
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Facility Own/Lease: |
Own |
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Business Type: |
Private |
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Location Type: |
Headquarter |
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Primary Line of
Business: |
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SIC: |
0723-08 |
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NAICS: |
115114 - Other Postharvest Crop Activities |
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Secondary Lines of
Business: |
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SICs: |
5141-01 - |
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5145-10 - |
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5145-02 - |
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5441-02 - |
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8742-13 - |
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NAICS: |
424450 - Confectionery Merchant Whols |
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424420 - Packaged Frozen Food Merchant Whols |
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541613 - Marketing Consulting Svcs |
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425120 - Wholesale Trade Agents & Brokers |
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445292 - Confectionery & Nut Stores |
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Corporate
Family |
Corporate
Structure News: |
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Blue Diamond
Growers |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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Blue Diamond Growers |
Parent |
Sacramento, CA |
United States |
Food Processing |
709.0 |
1,500 |
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Blue Diamond Growers |
Branch |
Modesto, CA |
United States |
Crops |
16.8 |
200 |
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Blue Diamond Growers |
Branch |
Salem, OR |
United States |
Retail (Home Improvement) |
5.5 |
20 |
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Executive report
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Board of
Directors |
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Chairman |
Chairman |
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Vice Chairman |
Vice-Chairman |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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President, Chief Executive Officer and Director |
Director/Board Member |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Executives |
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President, Chief Executive Officer and Director |
Chief Executive Officer |
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VP/General Manager |
Division Head Executive |
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Director-Internal Audit |
Finance Executive |
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Chief Financial Officer |
Finance Executive |
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Manager-Credit & Accounts Receivable |
Finance Executive |
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Controller |
Controller |
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Director-Human Resources |
Human Resources Executive |
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Director-Information Services & Webmaster |
Human Resources Executive |
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Director-International Retail Sales |
Sales Executive |
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National Sales Manager |
Sales Executive |
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Director-Telecommunications |
Telecommunications Executive |
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Director-Purchasing |
Purchasing Executive |
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Quality |
Quality Executive |
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Director-Public Affairs |
Government/Public Affairs Executive |
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Standard &
Poor’s
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United
States of America Long-Term Rating Lowered To 'AA+' Due To Political Risks, Rising
Debt Burden; Outlook Negative |
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Publication
date: 05-Aug-2011 20:13:14 EST |
·
We have lowered our long-term
sovereign credit rating on the United States of America to 'AA+' from 'AAA' and
affirmed the 'A-1+' short-term rating.
·
We have also removed both the short- and long-term ratings
from CreditWatch negative.
·
The downgrade reflects our opinion
that the fiscal consolidation plan that Congress and the Administration
recently agreed to falls short of what, in our view, would be necessary to
stabilize the government's medium-term debt dynamics.
·
More broadly, the downgrade
reflects our view that the effectiveness, stability, and predictability of
American policymaking and political institutions have weakened at a time of
ongoing fiscal and economic challenges to a degree more than we envisioned when
we assigned a negative outlook to the rating on April 18, 2011.
·
Since then, we have changed our
view of the difficulties in bridging the gulf between the political parties
over fiscal policy, which makes us pessimistic about the capacity of Congress
and the Administration to be able to leverage their agreement this week into a
broader fiscal consolidation plan that stabilizes the government's debt
dynamics any time soon.
·
The outlook on the long-term rating
is negative. We could lower the long-term rating to 'AA' within the next two
years if we see that less reduction in spending than agreed to, higher interest
rates, or new fiscal pressures during the period result in a higher general
government debt trajectory than we currently assume in our base case.
TORONTO (Standard &
Poor's) Aug. 5, 2011--Standard & Poor's Ratings Services said today that it
lowered its long-term sovereign credit rating on the United States of America
to 'AA+' from 'AAA'. Standard & Poor's also said that the outlook on the
long-term rating is negative. At the same time, Standard & Poor's affirmed
its 'A-1+' short-term rating on the U.S. In addition, Standard & Poor's
removed both ratings from CreditWatch, where they were placed on July 14, 2011,
with negative implications.
The transfer and
convertibility (T&C) assessment of the U.S.--our assessment of the
likelihood of official interference in the ability of U.S.-based public- and
private-sector issuers to secure foreign exchange for
debt service--remains
'AAA'.
We lowered our long-term
rating on the U.S. because we believe that the prolonged controversy over
raising the statutory debt ceiling and the related fiscal policy debate
indicate that further near-term progress containing the growth in public
spending, especially on entitlements, or on reaching an agreement on raising
revenues is less likely than we previously assumed and will remain a
contentious and fitful process. We also believe that the fiscal consolidation
plan that Congress and the Administration agreed to this week falls short of
the amount that we believe is necessary to stabilize the general government
debt burden by the middle of the decade.
Our lowering of the
rating was prompted by our view on the rising public debt burden and our
perception of greater policymaking uncertainty, consistent with our criteria
(see "Sovereign Government Rating Methodology and
Assumptions ," June 30, 2011,
especially Paragraphs 36-41). Nevertheless, we view the U.S. federal
government's other economic, external, and monetary credit attributes, which
form the basis for the sovereign rating, as broadly unchanged.
We have taken the ratings
off CreditWatch because the Aug. 2 passage of the Budget Control Act Amendment
of 2011 has removed any perceived immediate threat of payment default posed by
delays to raising the government's debt ceiling. In addition, we believe that
the act provides sufficient clarity to allow us to evaluate the likely course
of U.S. fiscal policy for the next few years.
The political
brinksmanship of recent months highlights what we see as America's governance and
policymaking becoming less stable, less effective, and less predictable than
what we previously believed. The statutory debt ceiling and the threat of
default have become political bargaining chips in the debate over fiscal
policy. Despite this year's wide-ranging debate, in our view, the differences
between political parties have proven to be extraordinarily difficult to
bridge, and, as we see it, the resulting agreement fell well short of the
comprehensive fiscal consolidation program that some proponents had envisaged
until quite recently. Republicans and Democrats have only been able to agree to
relatively modest savings on discretionary spending while delegating to the
Select Committee decisions on more comprehensive measures. It appears that for now,
new revenues have dropped down on the menu of policy options. In addition, the
plan envisions only minor policy changes on Medicare and little change in other
entitlements,
the containment of which
we and most other independent observers regard as key to long-term fiscal
sustainability.
Our opinion is that
elected officials remain wary of tackling the structural issues required to
effectively address the rising U.S. public debt burden in a manner consistent
with a 'AAA' rating and with 'AAA' rated sovereign peers (see Sovereign Government Rating Methodology and
Assumptions," June 30, 2011,
especially Paragraphs 36-41). In our view, the difficulty in framing a consensus
on fiscal policy weakens the government's ability to manage public finances and
diverts attention from the debate over how to achieve more balanced and dynamic
economic growth in an era of fiscal stringency and private-sector deleveraging
(ibid). A new political consensus might (or might not) emerge after the 2012
elections, but we believe that by then, the government debt burden will likely
be higher, the needed medium-term fiscal adjustment potentially greater, and
the inflection point on the U.S. population's demographics and other
age-related spending drivers closer at hand (see "Global Aging 2011: In The U.S., Going Gray Will Likely
Cost Even More Green, Now,"
June 21, 2011).
Standard & Poor's
takes no position on the mix of spending and revenue measures that Congress and
the Administration might conclude is appropriate for putting the U.S.'s
finances on a sustainable footing.
The act calls for as much
as $2.4 trillion of reductions in expenditure growth over the 10 years through
2021. These cuts will be implemented in two steps: the $917 billion agreed to
initially, followed by an additional $1.5 trillion that the newly formed
Congressional Joint Select Committee on Deficit Reduction is supposed to
recommend by November 2011. The act contains no measures to raise taxes or
otherwise enhance revenues, though the committee could recommend them.
The act further provides
that if Congress does not enact the committee's recommendations, cuts of $1.2
trillion will be implemented over the same time period. The reductions would
mainly affect outlays for civilian discretionary spending, defense, and
Medicare. We understand that this fall-back mechanism is designed to encourage
Congress to embrace a more balanced mix of expenditure savings, as the
committee might recommend.
We note that in a letter
to Congress on Aug. 1, 2011, the Congressional Budget Office (CBO) estimated
total budgetary savings under the act to be at least $2.1 trillion over the
next 10 years relative to its baseline assumptions. In updating our own fiscal
projections, with certain modifications outlined below, we have relied on the
CBO's latest "Alternate Fiscal Scenario" of June 2011, updated to
include the CBO assumptions contained in its Aug. 1 letter to Congress. In
general, the CBO's "Alternate Fiscal Scenario" assumes a continuation
of recent Congressional action overriding existing law.
We view the act's
measures as a step toward fiscal consolidation. However, this is within the
framework of a legislative mechanism that leaves open the details of what is
finally agreed to until the end of 2011, and Congress and the Administration
could modify any agreement in the future. Even assuming that at least $2.1
trillion of the spending reductions the act envisages are implemented, we
maintain our view that the U.S. net general government debt burden (all levels
of government combined, excluding liquid financial assets) will likely continue
to grow. Under our revised base case fiscal scenario--which we consider to be
consistent with a 'AA+' long-term rating and a negative outlook--we now project
that net general government debt would rise from an estimated 74% of GDP by the
end of 2011 to 79% in 2015 and 85% by 2021. Even the projected 2015 ratio of
sovereign indebtedness is high in relation to those of peer credits and, as
noted, would continue to rise under the act's revised policy settings.
Compared with previous
projections, our revised base case scenario now assumes that the 2001 and 2003
tax cuts, due to expire by the end of 2012, remain in place. We have changed
our assumption on this because the majority of Republicans in Congress continue
to resist any measure that would raise revenues, a position we believe Congress
reinforced by passing the act. Key macroeconomic assumptions in the base case
scenario include trend real GDP growth of 3% and consumer price inflation near
2% annually over the decade.
Our revised upside
scenario--which, other things being equal, we view as consistent with the
outlook on the 'AA+' long-term rating being revised to stable--retains these
same macroeconomic assumptions. In addition, it incorporates $950 billion of
new revenues on the assumption that the 2001 and 2003 tax cuts for high earners
lapse from 2013 onwards, as the Administration is advocating. In this scenario,
we project that the net general government debt would rise from an estimated
74% of GDP by the end of 2011 to 77% in 2015 and to 78% by 2021.
Our revised downside
scenario--which, other things being equal, we view as being consistent with a
possible further downgrade to a 'AA' long-term rating--features less-favorable
macroeconomic assumptions, as outlined below and also assumes that the second
round of spending cuts (at least $1.2 trillion) that the act calls for does not
occur. This scenario also assumes somewhat higher nominal interest rates for
U.S. Treasuries. We still believe that the role of the U.S. dollar as the key
reserve currency confers a government funding advantage, one that could change
only slowly over time, and that Fed policy might lean toward continued loose
monetary policy at a time of fiscal tightening. Nonetheless, it is possible
that interest rates could rise if investors re-price relative risks. As a
result, our alternate scenario factors in a 50 basis point (bp)-75 bp rise in
10-year bond yields relative to the base and upside cases from 2013 onwards. In
this scenario, we project the net public debt burden would rise from 74% of GDP
in 2011 to 90% in 2015 and to 101% by 2021.
Our revised scenarios
also take into account the significant negative revisions to historical GDP
data that the Bureau of Economic Analysis announced on July 29. From our
perspective, the effect of these revisions underscores two related points when
evaluating the likely debt trajectory of the U.S. government. First, the
revisions show that the recent recession was deeper than previously assumed, so
the GDP this year is lower than previously thought in both nominal and real
terms. Consequently, the debt burden is slightly higher. Second, the revised
data highlight the sub-par path of the current economic recovery when compared
with rebounds following previous post-war recessions. We believe the sluggish
pace of the current economic recovery could be consistent with the experiences
of countries that have had financial crises in which the slow process of debt
deleveraging in the private sector leads to a persistent drag on demand. As a
result, our downside case scenario assumes relatively modest real trend GDP
growth of 2.5% and inflation of near 1.5% annually going forward.
When comparing the U.S.
to sovereigns with 'AAA' long-term ratings that we view as relevant
peers--Canada, France, Germany, and the U.K.--we also observe, based on our
base case scenarios for each, that the trajectory of the U.S.'s net public debt
is diverging from the others. Including the U.S., we estimate that these five
sovereigns will have net general government debt to GDP ratios this year
ranging from 34% (Canada) to 80% (the U.K.), with the U.S. debt burden at 74%.
By 2015, we project that their net public debt to GDP ratios will range between
30% (lowest, Canada) and 83% (highest, France), with the U.S. debt burden at
79%. However, in contrast with the U.S., we project that the net public debt
burdens of these other sovereigns will begin to decline, either before or by
2015.
Standard & Poor's
transfer T&C assessment of the U.S. remains 'AAA'. Our T&C assessment
reflects our view of the likelihood of the sovereign restricting other public
and private issuers' access to foreign exchange needed to meet debt service.
Although in our view the credit standing of the U.S. government has
deteriorated modestly, we see little indication that official interference of
this kind is entering onto the policy agenda of either Congress or the
Administration. Consequently, we continue to view this risk as being highly
remote.
The outlook on the long-term
rating is negative. As our downside alternate fiscal scenario illustrates, a
higher public debt trajectory than we currently assume could lead us to lower
the long-term rating again. On the other hand, as our upside scenario
highlights, if the recommendations of the Congressional Joint Select Committee
on Deficit Reduction--independently or coupled with other initiatives, such as
the lapsing of the 2001 and 2003 tax cuts for high earners--lead to fiscal
consolidation measures beyond the minimum mandated, and we believe they are
likely to slow the deterioration of the government's debt dynamics, the
long-term rating could stabilize at 'AA+'.
On Monday, we will
issue separate releases concerning affected ratings in the funds,
government-related entities, financial institutions, insurance, public finance,
and structured finance sectors.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.36 |
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1 |
Rs.101.11 |
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Euro |
1 |
Rs.84.68 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.