Acquisition positions C.H. Robinson as foremost melon provider
Eden Prairie, MN, Sept. 27, 2011— C.H. Robinson Company, Inc., a subsidiary of C.H. Robinson Worldwide, Inc. (collectively, "C.H. Robinson"), one of the largest produce sourcing and third party logistics companies in the world, today announced it acquired melon category leader Timco Worldwide, Inc. ("Timco"). The acquisition makes C.H. Robinson one of the dominant providers in the North American and Latin American melon category.
Founded in 1985 by Tim Colin, Timco markets conventional and organic melons under the Melon Up!® and Irish Eyes® labels. Timco has dedicated itself to providing retail and club store customers with a year-round supply of regular and mini sized watermelons and seasonally provides cantaloupes, honeydews and mixed melons.
Timco, headquartered in Davis, CA, has an established growing network that operates in 10 states and five countries: Honduras, Guatemala, Costa Rica, Mexico and Panama. In addition to enhancing C.H. Robinson's existing melon category programs, Timco offers growers unique and proprietary technology in advanced planning, sorting and distribution services, and the ability, through proprietary seed arrangements, to garner the best yield and tonnage from their crops.
"This acquisition supports our strategy to develop innovative products and grower relationships that are uniquely aligned with the needs in the marketplace," said Jim Lemke, C.H. Robinson senior vice president. "Timco's approach to seed development, technology and customer account management is a synergistic fit with C.H. Robinson's existing grower network and customer programs. We are pleased to be able to add Timco's skill set to this strategic produce category."
Timco's technological advances allow them to keep pace with customer demands for reliable production year-round. Its patented TX-5™ sorting system weighs each melon to guarantee uniform size and weight. As well, Timco's exclusive relationship with Origene Seeds Ltd. enables the development and introduction of innovative new products that meet and exceed retailers', growers, and consumers' expectations.
C.H. Robinson's strategic acquisitions in the produce arena have included FoodSource, a prominent California-based produce company, in 2005, and Rosemont Farms Corporation, Inc., a produce marketing company with well established grower relationships, in 2009. The Timco acquisition, combined with the acquisitions of FoodSource and Rosemont Farms, strengthens its market position and focus on providing fresh, innovative solutions that are market driven and supply and demand chain efficient.
"We are excited to be able to add our melon category expertise in grower services and customer programs to C.H. Robinson's logistics expertise and diverse grower network," said Colin. "Collectively, we are in a strong position to provide the marketplace a unique value from 'seed to shelf'."
Terms of the acquisition were not disclosed.
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ABOUT C.H. ROBINSON WORLDWIDE, INC.
C.H. Robinson got its start in the produce industry over 100 years ago, providing fresh fruits and vegetables to the settlers of the Dakotas and Minnesota. Today, C.H. Robinson is a Fortune 500 company and one of the largest produce sourcing and third party logistics companies in the world with annual gross revenues of approximately $9.3 billion in 2010. C.H. Robinson offers the highest quality products while integrating value-added logistics, distribution, and information reporting services. C.H. Robinson provides many well known North American consumer brands including Glory Foods, Mott's®, Welch's®, and Tropicana® and offers a full line of conventional and organic produce through a large network of regional and local growers. The company serves over 36,000 customers through a network of more than 230 offices and over 8,000 employees in North America, Europe, Asia, South America, Australia and the Middle East.
Through the company and its Foundation, C.H. Robinson and its employees contribute millions of dollars annually to a variety of organizations, including the Juvenile Diabetes Research Foundation, Community Health Charities, the American Logistics Aid Network, Children's Hospital and Clinics of Minnesota, Sustainable Harvest International, and the United Way. The company is headquartered in Eden Prairie, Minnesota, and has been publicly traded on the Nasdaq since 1997. For more information about C.H. Robinson, visit http://www.chrobinson.com/.
