Seneca Foods
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| Seneca Foods Corporation | |
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| Type | Public (NASDAQ: SENEA, SENEB) |
|---|---|
| Founded | 1949 |
| Headquarters | Dundee, New York, USA |
| Key people | Arthur S. Wolcott, Chairman Kraig H. Kayser, President & CEO |
| Industry | Canned Foods, Snacks, Air Charter |
| Products | Canned and Frozen Vegetables, Snacks |
| Revenue |  $883.8 million USD (2006) |
| Operating income | $36.48 million USD (2004) |
| Net income | $12.9 million USD (2004) |
| Employees | 2,906 (full-time 2006) |
| Slogan | Always in Season |
| Website | senecafoods.com |
Seneca Foods Corporation is a food processor headquartered in Marion, NY, USA. The company is a leading producer and distributor of canned vegetables. In addition, the company offers frozen vegetables, fruit and chip products, steel cans, and an air charter business.
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[edit] History
The company was founded in 1949 in Dundee, NY by Cornell University business student Arthur S. Wolcott. In the 1950s, Seneca contracted with Minute Maid to co–pack the first frozen grape juice in the nation. Apple processing, specialty syrups, and maraschino cherries were added to the product line. The development of private label, bulk, industrial and co–pack segments also took place during this time. Fruit processing remained the primary focus for the next several decades.
During the 1960s, the company continued to expand with new plants and new products, including the nation's first frozen apple juice concentrate, under the Seneca brand. The corporate name was changed from Seneca Grape Juice Company to Seneca Foods Corporation. During this timeframe, the Prosser, Washington plant was opened for the production of applesauce and fruit juices, and the company continued to add brokers and expand distribution throughout the country to grow its branded business. Seneca's first national television advertisements for its frozen concentrate juices took place. Seneca stock began trading in the over-the-counter market, and Vitamin C enriched apple juice was introduced - a first in the industry.
The 1970s was a period of rapid growth and diversification as the company acquired companies in the food distribution, canned vegetable, glass, paint and textile businesses. Through one of these acquisitions, Julius G. Kayser joined Seneca and played a key role in the company's growth until his death in 1988. The corporate name was changed to S.S. Pierce Company, and production of metal cans began.
During the 1980s, the corporate named changed back to Seneca Foods Corporation, and the company consolidated most of its non-food operations and focused on its fruit and vegetable lines. The company rolled out the first natural frozen grape juice and expanded the juice line into white grape, cranberry, and cranberry blends. The juices were advertised nationally featuring Marion Ross from TV's Happy Days. The company entered the private label retail and food service vegetable business in the midwest, and began producing IQF frozen vegetables for the food service and industrial markets.
In the 1990s, further acquisitions and internal growth allowed Seneca to emerge as the world’s largest processor of canned vegetables. The company acquired six plants from Pillsbury and entered into an alliance with them to manufacture products under the Green Giant label. At the end of the decade, the company strengthened its financial base by selling its juice and applesauce operations and raising additional capital with a shareholder rights offering. Sales expanded to global markets, and a profitable apple chip business was acquired. Seneca Flight Operations also became the fixed based operator at the Penn Yan, NY Airport, and a hangar complex was constructed.
[edit] Acquisitions
1950s
Hudson Valley Pure Food Co.
Hilton Fruit Co–op
North Wayne Co–op
Westfield Maid Co–op
1960s
Boordy Vineyards
1970s
Tapetex
Lehman Bros.
Castle Hansen
S.S. Pierce Company and subsidiaries
Marion Canning
Fruit Belt Preserving Co.
Seneca Kraut
Perfection Foods
1980s
Libby's canned vegetable business
1990s
Treesweet, Orange Plus, and Awake juice brands
Blue Boy, Aunt Nellie's, and Lohmann vegetable brands
2000s
Chiquita Processed Foods
[edit] Corporate Governance
Current members of the board of directors of Seneca are: Arthur S. Wolcott, Kraig H. Kayser, Arthur H. Baer, Andrew M. Boas, Robert T. Brady, Douglas F. Brush, G. Brymer Humphreys, Thomas Paulson, and Susan W. Stuart.
