Ever receive a fruitcake during the holidays? Or at least see one in a grocery store bakery? Chances are, the candied fruit inside was produced by Paradise Inc. The company believes its products account for the large majority of candied fruit sold in the US. Paradise dominates its niche, but that niche is a small one. In 2011, sales of candied fruit accounted for 68.9% of the company's revenue, or a little over $17 million dollars. The company also produces molded plastic baskets used primarily in food packaging and occasionally grows and sells strawberries when market conditions are attractive. Paradise is controlled by CEO Melvin Gordon who owns 37.1% of the shares outstanding.
Paradise Inc. - PARF
Paradise Inc. - PARF
Paradise Inc. - PARF
Ever receive a fruitcake during the holidays? Or at least see one in a grocery store bakery? Chances are, the candied fruit inside was produced by Paradise Inc. The company believes its products account for the large majority of candied fruit sold in the US. Paradise dominates its niche, but that niche is a small one. In 2011, sales of candied fruit accounted for 68.9% of the company's revenue, or a little over $17 million dollars. The company also produces molded plastic baskets used primarily in food packaging and occasionally grows and sells strawberries when market conditions are attractive. Paradise is controlled by CEO Melvin Gordon who owns 37.1% of the shares outstanding.