FEATURE LONG-TERM THINKING BEARS FRUIT Rogers Foods achieves steady growth under Nisshin ownership By L. Joshua Sosland I Rogers Foods recently added a 4,200-cwt-capacity B mill at its Chilliwack, British Columbia, site. Photo courtesy of Rogers Foods. 24 n the 13 years since Rogers Foods Ltd. opened a new ÀRXUPLOOLQ&KLOOLZDFN%ULWLVK&ROXPELDLQWKH FRPSHWLWLYHODQGVFDSHLQZKLFKWKHFRPSDQ\RSHUDWHV has experienced extraordinary change. In addition to draPDWLF FRQVROLGDWLRQ ZLWKLQ WKH 1RUWK$PHULFDQ PLOOLQJ DQGEDNLQJLQGXVWULHVRYHUWKLVSHULRGWKHFRPSDQ\KDG WRQDYLJDWHDQKLVWRULFWUDQVLWLRQLQLWVJUDLQPDUNHWZLWK WKHGLVPDQWOLQJRIWKH&DQDGLDQ:KHDW%RDUGDQGDJHQHUDWLRQDOWUDQVLWLRQLQWKHFRPSDQ\¶VOHDGHUVKLS $IDOOFHOHEUDWLRQPDUNLQJWKHDGGLWLRQRIDQHZ & PLOOLRQ PLOOLRQ PLOOLQJ XQLW DW &KLOOLZDFN RIIHUHGFRPSHOOLQJHYLGHQFHWKDW5RJHUVKDVPRUHWKDQ ZHDWKHUHGWKHVWRUP2Q2FWFXVWRPHUVUHSUHVHQWDWLYHVRI1LVVKLQ)ORXU0LOOLQJ5RJHUV¶7RN\REDVHGSDUHQWHPSOR\HHVDQGVXSSOLHUVMRLQHGWRPDUNWKHRSHQLQJ RIDQHZÀRXUPLOOHTXLSSHGE\2FULP6S$&UHPRQD ,WDO\ DQG &(7(& &HUHDOV7HFKQRORJLHV ,QF (ONULGJH 0DU\ODQG 86 $OVR SUHVHQW ZHUH UHSUHVHQWDWLYHV RI 0LOOHU0LOOLQJ&R1LVVKLQ¶VRWKHU1RUWK$PHULFDQPLOOLQJEXVLQHVV 7KHVXFFHVVDFKLHYHGRYHUWKHODVW\HDUVDW5RJHUVLQ DGLI¿FXOWÀRXUPDUNHWDSSHDUVWRYDOLGDWHZKDWWKHFRPSDQ\¶VIRUPHUSUHVLGHQW9LF%HOOVDLGLQDERXWH[SHFWDWLRQVWKDWKDGEHHQVHWE\1LVVKLQVLQFHLWV-DSDQHVH SDUHQWDFTXLUHG5RJHUVLQ ³7KH\WROGXVWKDW1LVVKLQLVDIDUVLJKWHGFRPSDQ\´ VDLG%HOOZKRUHWLUHGLQ³1LVVKLQHQFRXUDJHGXVQRW WRWKLQNLQWHUPVRIRQH\HDURUWZREXWWRWKLQNLQRU \HDUWHUPV´ 7KH YDOXH RI WKLV SDWLHQW EXW GHWHUPLQHG DSSURDFK WR WKH PLOOLQJ EXVLQHVV KDV WUDQVIRUPHG 5RJHUV LQ WKH \HDUVVLQFH1LVVKLQDFTXLUHGLW$WWKHWLPH5RJHUVZDVD QLFKHVSHFLDOW\PLOOHUZLWKDVLQJOHFZWPLOOGDLO\ SURGXFWLRQ FDSDFLW\ DW $UPVWURQJ %ULWLVK &ROXPELD &DQDGD $IWHU WKH DFTXLVLWLRQ WKH FRPSDQ\ JUDGXDOO\ UDLVHGFDSDFLW\WRFZWVEHIRUHEXLOGLQJWKH$XQLW LQ &KLOOLZDFN PLOHV HDVW RI 9DQFRXYHU PLOHV VRXWKZHVWRI$UPVWURQJZKLFKQRZKDVGDLO\FDSDFLW\ RIFZWV:LWKWKHDGGLWLRQLQRIWKHFZW %XQLW5RJHUV)RRGVEHWZHHQLWVWZRORFDWLRQVQRZKDV FZWVRIGDLO\PLOOLQJFDSDFLW\²VL[WLPHVPRUH WKDQZKHQ1LVVKLQDFTXLUHG5RJHUV 1LVVKLQ¶V IRFXV RQ WKH ORQJ WHUP UHPDLQV ¿UPO\ LQ SODFH LQ VDLG .HOO\ 2¶%ULHQ YLFHSUHVLGHQW RSHUDWLRQV 2¶%ULHQ KDV EHHQ ZLWK 5RJHUV IRU PRUH WKDQ\HDUVDQGKDVZLWQHVVHGWKHIXOOFRPSOHPHQW RI FKDQJHV WKDW WUDQVSLUHG VLQFH WKH 1LVVKLQ DFTXLVLWLRQ+HVDLGWKLVIRUZDUGORRNLQJIRFXVZDVFUXFLDODV 5RJHUVVRXJKWWREXLOGLWVERRNRIEXVLQHVVDIWHUEHJLQQLQJRSHUDWLRQVDW&KLOOLZDFN 7KH$XQLWZDVEXLOWZLWKDÀRZDLPHGDWSURYLGLQJWKH FRPSDQ\WKHÀH[LELOLW\WRSURGXFHPDQ\GLIIHUHQWJUDGHV RIÀRXUWRPHHWWKHQHHGVRIDZLGHUDQJHRIFXVWRPHUV LQ&DQDGDWKH8QLWHG6WDWHVDQGRYHUVHDV6WLOOWKHFRPSDQ\DQWLFLSDWHGWKDWODUJHEXONFXVWRPHUVZRXOGDFFRXQW IRUDODUJHSDUWRILWVSURGXFWLRQ ³:H DFWXDOO\ H[SHFWHG PRVWO\ ODUJH FXVWRPHUV ZLWK EXON VKLSPHQWV DFFRXQWLQJ IRU WR RI SURGXFApril 2018 / World Grain / www.World-Grain.comhttp://www.World-Grain.com