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June 02, 2015 7:06 PM ET

Food Products

Company Overview of Apio, Inc.

Company Overview

Apio, Inc. engages in processing, shipping, distributing, and exporting specialty packaged vegetables. It offers fresh-cut green beans and vegetables. The company also provides membranes, storage bags, and trays to keep fruits and vegetables. It sells its specialty packaged vegetables in convenient bags and tray formats through foodservice channels, retail grocery stores, club stores, and wholesale stores throughout in the United States, Mexico, and Canada. The company was founded in 1979 and is headquartered in Guadalupe, California. Apio, Inc. operates as a subsidiary of Landec Corp.

4575 West Main Street

Guadalupe, CA 93434

United States

Founded in 1979

Phone:

805-343-2835

Fax:

805-343-3033

Key Executives for Apio, Inc.

Chief Executive Officer
Age: 48
Director of Marketing
Vice President of Sales & Marketing
Compensation as of Fiscal Year 2014.

Apio, Inc. Key Developments

Apio Announces Unaudited Earnings Results for the Third Quarter and Nine Months Ended March 1, 2015

Apio announced unaudited earnings results for the third quarter and nine months ended March 1, 2015. For the quarter, the company reported revenue of $123,591,000 against $106,107,000 a year ago. Net income was $5,222,000 against $2,546,000 a year ago. For the nine months, the company reported revenue of $374,479,000 against $318,063,000 a year ago. Net income was $18,726,000 against $18,432,000 a year ago.

Apio, Inc. Enters into an Approximately $4.1 Million Equipment Loan with General Electric Capital Corporation

On November 24, 2014, Apio, Inc. entered into an approximately $4.1 million equipment loan with General Electric Capital Corporation. The equipment loan matures in five years with a fixed interest rate of 3.74%. The obligations of Apio and the borrowers thereunder arising from the Loan Agreements are secured by liens (on a pari passu basis with certain other indebtedness of Apio and the borrowers) on all of the property of Apio, CalEx Trading Company, Apio Cooling L.P. and GreenLine Logistics, Inc. The Loan Agreement between Apio and GE Capital contains customary provisions regarding events of default, under which obligations could be accelerated or increased. Landec is guarantying all obligations of Apio, CalEx, Apio Cooling and GreenLine to GE Capital under the equipment loan.

Apio, Inc. Enters into $7.0 Million Equipment Loan with General Electric Capital Corporation

On August 28, 2014, Apio, Inc. entered into an approximately $7.0 million equipment loan with General Electric Capital Corporation. The equipment loan matures in five years with a fixed interest rate of 3.68%. The obligations of Apio and the borrowers thereunder arising from the Loan Agreements are secured by liens (on a pari passu basis with certain other indebtedness of Apio and the borrowers) on all of the property of Apio, CalEx Trading Company, a Delaware corporation and wholly-owned subsidiary of Apio (CalEx"), Apio Cooling L.P. (Apio Cooling"), a California limited partnership and majority-owned subsidiary of Apio, and GreenLine Logistics, Inc., a Ohio corporation and wholly-owned subsidiary of Apio (Greenline"). The Loan Agreement between Apio and GE Capital contains customary provisions regarding events of default, under which obligations could be accelerated or increased. Landec is guarantying all obligations of Apio, CalEx, Apio Cooling and GreenLine to GE Capital under the equipment loan.

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