With a product assortment that includes nuts, beverages, floral and produce, the Wonderful Co.’s offerings appeal to a broad range of consumers, which helped make it the fastest-growing company in the CPG and produce industries, according to a new report.
Data provided by market research firm IRI reveals the Wonderful Co. is the No. 1 growth leader among all multibillion-dollar CPG companies, as well as the No. 1 growth leader in produce in 2017. The company ranks in the top five for adding dollars to the entire CPG industry, accounting for 5% of all CPG growth, and is the only multibillion-dollar company with double-digit growth at 13%.
Privately held Wonderful, based in Los Angeles, controls brands such as Wonderful Pistachios, Wonderful Halos, Pom Wonderful, Fiji Water, Justin Wine and Teleflora. It had sales of $4 billion last year and was positioned as the top growth leader among all midsize companies in the U.S., raking in $1 billion to $5.5 billion in retail sales, according to a study released Thursday by the Boston Consulting Group (BCG) and IRI.
“More than half of U.S. households already buy a Wonderful product each year, and IRI data in concert with this study clearly demonstrates that our healthy offerings are resonating with consumers,” Adam Cooper, VP of marketing, the Wonderful Co., said in a statement.
As consumers increasingly seek healthier lifestyles, the company has been focusing on providing wholesome food options, investing more than $3 billion in capital and $1 billion in marketing and branding, Cooper said. “With these investments, and consumers increasingly seeking nutritious choices, Wonderful is poised for even more growth in the future.”
While other midsize and large CPG companies are experiencing declining sales, the Wonderful Co. and a handful of other CPG leaders have managed to boost sales by developing differentiated product offerings and using their growth to expand into new markets, according to the BCG and IRI report.
The study’s findings analyzed the growth performance of more than 400 public and private CPG companies with annual U.S. retail sales exceeding $100 million, focusing on consumers’ purchasing trends in measured channels rather than what factories ship. The report analyzed trends that drove performance in the sector, and ranked companies on their dollar-sales growth, volume-sales growth and market-share gains.
With a long-standing commitment to corporate social responsibility, the company has invested more than $200 million in environmental technologies and sustainability research; $45 million in charitable giving and education initiatives each year; and $80 million toward the construction of a new charter school campus in California and health and wellness programs, including two new free primary care clinics for its 9,000 employees and their dependents.