Paradise, Inc. engages in the production and sale of candied fruit and molded plastics principally within the United States.
Segments
Candied Fruit
This segment engages in the production of candied fruit, a basic fruitcake ingredient, sold to manufacturing bakers, institutional users, and retailers for use in home baking. Also, based on market conditions, the processing of frozen strawberry products for sale to commercial and institutional users, such as preservers, dairies, drink manufacture...
Paradise, Inc. engages in the production and sale of candied fruit and molded plastics principally within the United States.
Segments
Candied Fruit
This segment engages in the production of candied fruit, a basic fruitcake ingredient, sold to manufacturing bakers, institutional users, and retailers for use in home baking. Also, based on market conditions, the processing of frozen strawberry products for sale to commercial and institutional users, such as preservers, dairies, drink manufacturers, etc.
Molded Plastics
This segment engages in the production of plastic containers for the company’s products and other molded plastics for sale to unaffiliated customers.
Customers
During 2018, the company derived 12% of its consolidated net sales from Walmart Stores, Inc.
During 2018, the company derived 12% of its consolidated net sales from Aqua Cal, Inc.
Seasonality
The demand for fruit cake materials is highly seasonal, with approximately 85% of sales in these items occurring during the months of September, October and November. However, to meet delivery requirements during this short period, the company must process candied fruit and peels for approximately ten months during the year (year ended December 2018). Also, the company must acquire the fruits used as raw materials during their seasonal growing periods.
Trademarks
The trademarks ‘Paradise’, ‘Dixie’, ‘Mor-Fruit’, ‘Sun-Ripe - Holiday Fruit ‘SR’’, and ‘Pennant Holiday Fruit’ are registered with the appropriate Federal and State authorities for use on the company’s candied fruit.
History
The company was founded in 1961. It was formerly known as Paradise Fruit Company, Inc. and changed its name to Paradise, Inc. in 1993.