PRESIDENT’S CORNER
Harvest season is upon us, and we can always count on the transition from summer to fall to keep us on our toes. This harvest has brought us a mix of weather conditions with hot days, cooler mornings, and a few surprise rainstorms. Mel tells me that growers hit hardest by the rain have been dealing with harvest delays as they work to dry out almonds sitting in the orchards. As many of you will have read in my letter outlining our crop return data, this has been a tough but transformational year for Blue Diamond . On a global and national scale, we have seen it all- from market disruptions, tariffs, inflation and decreased consumer spending across almost every industry. For almonds, specifically, the non-dairy and snack nut categories continue to trend downwards. Despite all this, Blue Diamond continues to gain a greater share of each category. In Sacramento, we are winding down plant operations and have said goodbye to the first group of departing team members. Transitioning our operations to our Turlock and Salida plants, along with our co-manufacturing partners, is already well underway. We are starting to see initial returns taking shape, but the long-term impact of more focused, streamlined operations will be even greater in the years to come. This transition is critical to building a stronger foundation that not only supports our operational efficiency but drives our brand forward. If you’ve caught a glimpse of the Blue Diamond brand logo refresh, you know it’s hard to miss! You can expect to see our updated logo and vibrant packaging ready to capture attention starting this fall. At the same time, we’re building a stronger fanbase through flavor expansions and limited editions, featuring fan-favorite brands that resonate with our audiences. We broke new ground in the snack aisle with the launch of Almonds & More, our first venture into the mixed nuts category. It’s no secret that we know flavor, and retailers quickly took notice, confirming there’s an appetite for premium and protein-packed flavor options. Our produce debut has also generated real progress, demonstrated by strong retailer acceptance and sales performance. With millennials now holding up to 28% of spending power in the U.S., we’re focused on delivering new products that will captivate and build brand loyalty among new consumers. As we keep momentum going on the customer front, we’re also staying focused on the numbers that matter. The chart on the next page shows the final return for the 2024 crop. While the final return is considerably greater than that paid in the previous year, I must admit that I am not satisfied with our performance, and we are working hard to achieve a more competitive return next year. I will provide more details of the actions we are taking to return us to our industry-leading position at the upcoming Annual Grower Meeting in Modesto on November 19.
Kai Bockmann President & CEO
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ALMOND FACTS
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