Palm Beach, FL – June 8, 2023 – FinancialNewsMedia.com News Commentary – The flow of products and information between the supply chain’s member businesses is known as the supply chain. In the food supply chain, food moves from producer to consumer via the processes of production, processing, distribution, retailing and consumption; thus, food moves from farmer to consumer in a domino‐like fashion. As a result, agriculture supply chain management requires managing interactions between firms responsible for the efficient production and distribution of products from farmers to customers to meet the quantity, quality, and price expectations of consumers constantly. This usually requires managing horizontal and vertical alliances, as well as B2B procedures and interactions. Throughout the agricultural supply chain, however, difficulties such as smallholder/marginal farmer dominance, supply chain fragmentation, lack of economies of scale, low processing/value-added levels, and insufficient marketing infrastructure persist. A report from Verified Market Research projected that the Agriculture Supply Chain Management Market size is projected to reach USD 1802.59 Million by 2030, growing at a CAGR of 10.02%. The report said: “In the following years, the global agriculture supply chain management industry is expected to rise significantly. A considerable increase in demand for agricultural products, the implementation of advanced farming techniques, the rapid acceptance of blockchain technology, government efforts, and others are all driving the market’s growth in different ways.” Active companies in the markets this week include Muscle Maker, Inc. (NASDAQ: GRIL), ADM (NYSE: ADM) Bunge (NYSE:BG), Conagra Brands, Inc. (NYSE: CAG), The J.M. Smucker Co. (NYSE: SJM).
Verified Market Research continued: “Based on Type, the market is bifurcated into Online and Offline. Online segment accounted for the largest market share in 2021 and is projected to grow at a CAGR of 10.69% over the forecast period (2028). Online services provide automation to the offline manual procedures of supply chain services. Businesses may maintain track of their supply chains and suppliers with greater simplicity and depth using an online automated service system than they could manually. It keeps track of whether shipments arrive on time and how quickly suppliers must be paid for orders placed with them. Market consolidation with larger companies acquiring smaller competitors to attain economies of scale and vertical integration, the trend of precision farming, and increased investments in agritech start-ups are some of the important drivers driving the growth of the North American market.”
Muscle Maker, Inc. (NASDAQ: GRIL) BREAKING NEWS: Sadot LLC Achieves $9.9 Million Net Income Threshold, Triggers Nomination of Final Three Board Positions – Sadot LLC Contributed Total of $418 Million in Revenue – Muscle Maker, Inc. today announced its Sadot LLC subsidiary has crossed the key net income milestone of $9.9 Million allowing the nomination of the final three new board of director members.
As disclosed in an 8K filing on November 18, 2022, MMI and its wholly-owned subsidiary, Sadot LLC, entered into a service agreement whereby Sadot engaged Aggia LLC FZ to perform services related to the purchase of and sale of physical food commodities. Upon Sadot generating certain net income targets, Aggia has the right to nominate up to eight directors and would be issued shares of common stock. Based on successfully meeting previous income targets, Aggia has already appointed five Directors to the MMI board. By crossing the $9.9 million threshold, Aggia has the right to nominate three final candidates to the MMI board of directors. Once the three nominations are approved, Aggia will have appointed all eight board members as per the service agreement, bringing the current size of the MMI board of directors to 15. The complete Aggia agreements can be viewed in our 8K filing posted on November 18, 2022.
MMI CEO, Michael Roper, said “We are in the final stages of approving the three new nominees and look forward to announcing their joining the MMI board of directors shortly. Investors should keep in mind that the addition of these new Board members is a reflection of Sadot’s growing profitability. We are excited to be adding new Board members who can bring a wealth of knowledge and experience to support our new global food supply chain strategy, Sadot LLC and MMI overall.”
MMI recently announced Sadot LLC May revenue of over $58.9 million and a cumulative revenue number of over $418 million since Sadot LLC’s inception in November 2022. The Company continues its transformation from a consumer-focused restaurant company into a global food supply chain organization. CONTINUED… Read this full release and get more info for GRIL at: https://musclemakergrill.com/investor-relations/press-releases/
Additional recent developments in the restaurant industry include:
ADM (NYSE:ADM), a global leader in sustainably sourced nutrition, and Air Protein, a pioneer in air-based nutritional protein that requires no agriculture or farmland, decoupling protein production from traditional supply chain risks, recently announced that they have entered into a Strategic Development Agreement to collaborate on research and development to further advance new and novel proteins for nutrition.
The Strategic Development Agreement would combine ADM’s broad nutrition, formulation and research expertise with Air Protein’s unique landless agriculture platform to identify ways to scale cost-effective ingredients that enable meat substitutes to deliver on their cost, nutrition, flavor and texture targets. It also provides for the mutually exclusive rights for ADM and Air Protein to collaborate to build and operate the world’s first Air Protein commercial scale plant.
Bunge (NYSE:BG) and Nutrien Ag Solutions, the retail division of Nutrien Ltd., recently announced a strategic alliance and commercial agreement to support U.S. farmers in the implementation of sustainable farming practices that will help increase the development of lower carbon products. The initiative is expected to expand sustainable agriculture across shared supply chains in North America, bringing more whole-acre solutions to food, feed and fuel customers and end-consumers.
“Making meaningful reductions in greenhouse gas (GHG) emissions requires collaboration between stakeholders, including farmers, crop input companies and processors. We are pleased to create this new alliance with Nutrien Ag Solutions, which will further strengthen Bunge’s connection with farmers in the U.S. and create value for participants across all our value chains,” commented Fernando Candia, Bunge’s Vice President of Carbon Solutions. “Our focus is on continuing to invest in our business to support low-carbon initiatives including the implementation of regenerative agriculture best practices to improve soil health, capture carbon and increase biodiversity to minimize emissions.”
Conagra Brands, Inc. (NYSE: CAG) recently announced that it will host a webcast and conference call to review its fiscal 2023 fourth quarter results on Thursday, July 13, 2023, at 9:30 a.m. ET. The company’s news release will be issued at approximately 7:30 a.m. ET.
The live audio webcast and presentation slides will be available on conagrabrands.com/investor-relations under Events & Presentations. The conference call may be accessed by dialing 1-877-883-0383 for participants in the U.S. and 1-412-902-6506 for all other participants and using passcode 0327346. Please dial in 10 to 15 minutes prior to the call start time. Following the company’s remarks, the conference call will include a question-and-answer session with the investment community.
A replay of the webcast will be available until July 13, 2024.
The J.M. Smucker Co. (NYSE: SJM) recently announced results for the fourth quarter of its fiscal year ending April 30, 2023. Financial results for the fourth quarter and fiscal year reflect the divestitures of certain pet food brands on April 28, 2023, the natural beverage and grains businesses on January 31, 2022, and the private label dry pet food business on December 1, 2021. All comparisons are to the fourth quarter of the prior fiscal year, unless otherwise noted.
EXECUTIVE SUMMARY WAS:
Net sales were $2.2 billion, an increase of 10 percent. Net sales excluding the impact of divestitures and foreign currency exchange increased 11 percent. For the fiscal year, net sales were $8.5 billion, an increase of 7 percent. Net sales excluding the impact of divestitures and foreign currency exchange increased 9 percent. Net loss per diluted share for the quarter was $5.69, reflecting a loss related to the divestiture of certain pet food brands. Adjusted earnings per share was $2.64, an increase of 18 percent. For the full year, net loss per diluted share was $0.86. Adjusted earnings per share was $8.92, slightly ahead of the prior year. Cash from operations was $437.4 million compared to $393.7 million in the prior year. Free cash flow was $298.7 million in the quarter and $717.0 million for the full year. Return of capital to shareholders, reflecting cash dividends and share repurchases, was $467.9 million in the quarter and $797.7 million for the full year.
DISCLAIMER: FN Media Group LLC (FNM), which owns and operates Financialnewsmedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with any company mentioned herein. FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM was compensated twenty six hundred dollars for news coverage of the current press releases issued by Muscle Maker, Inc. by a non affiliated third party.
FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.
Media Contact email: email@example.com – +1(561)325-8757