Seneca processes and packages fruits and vegetables, with canned vegetables representing over 80% of food sales. The company also produces frozen vegetables, jarred fruits, and snack chips for retail, foodservice, and industrial customers. Seneca's core business involves manufacturing private label products for grocery chains, but it also sells branded items under names like Green Giant, Libby's, and Aunt Nellie's. Seneca sources raw agricultural commodities from over 1,100 US farms and processes them into finished goods. Profitability depends on the spread between the cost of raw materials, steel for cans, and transportation versus the prices charged to customers. The business is highly seasonal; Seneca harvests and packs products during the summer and fall to build inventory for year-round sale. This cycle creates significant working capital swings as inventory levels peak during the pack season. Seneca's growth strategy focuses on expanding its branded portfolio to reduce reliance on lower-margin private label contracts. This strategy includes the recent acquisition of the Green Giant US frozen business, which added frozen capacity and a recognized licensed brand. Seneca also seeks to lower unit costs through manufacturing technology and supply chain efficiency across its facilities in nine states.
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