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illycaffè Continues Sponsorship of Biennale Arte 2024 with New Art Collection

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illycaffè Continues Sponsorship of Biennale Arte 2024 with New Art Collection

illycaffè Continues Sponsorship of Biennale Arte 2024 with New Art Collection

Supporting Beauty Through Art

illycaffè, the renowned Italian coffee company, has announced its continued support as the main sponsor of the Biennale Arte 2024 “Stranieri Ovunque – Foreigners Everywhere” in Venice. This collaboration, which began in 2003, celebrates the exploration and promotion of beauty through contemporary art alongside one of the world’s most esteemed art events.

New illy Art Collection

This year, the partnership takes on a new dimension with the introduction of the illy Art Collection featuring works by emerging Latin American artists. These artists, carefully selected by the curator of Biennale Arte 2024, Adriano Pedrosa, have the opportunity to showcase their talent and gain increased visibility and artistic growth.

Creativity on Display

The iconic illy cups, known for their distinctive design, have once again been transformed into blank canvases for the chosen artists. This unique collaboration allows them to express their creativity and strengthens the fusion of beauty and excellence that characterizes the illy brand.

A Celebration of Dialogue and Inclusion

Cristina Scocchia, CEO of illycaffè, expresses delight in reaffirming the collaboration with the 60th International Art Exhibition. She states, “This year’s event celebrates those who are foreign or distant, using the language of contemporary art, which has always been a catalyst for dialogue and inclusion. These are values that illycaffè upholds throughout its entire supply chain, consistently placing individuals at the core of its operations.”

Sustainable Quality and Refreshment

The ethical and aesthetic essence of illycaffè is embodied in the sustainable quality of its coffee. Attendees, including artists, collectors, curators, and visitors at the 60th International Art Exhibition, will have the opportunity to enjoy the unique illy blend at the Biennale Arte’s refreshment points. Additionally, during the inauguration days, a gazebo will be situated at the entrance to the Giardini della Biennale venue, offering the chance to savor illy coffee.

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Coffee Industry and News

Smucker Co. Announces Financial Results for Q3 of Fiscal Year 2024

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Smucker Co. Announces Financial Results for Q3 of Fiscal Year 2024

Key Points:

The J.M. Smucker Co. reported a 1% increase in net sales for the third quarter of fiscal year 2024.

Net income per diluted share was $1.13, with adjusted earnings per share at $2.48, a 12% increase.

The company’s full-year fiscal 2024 outlook anticipates an approximately 8.75% increase in comparable net sales.

Financial Performance Overview:

The J.M. Smucker Co., a major player in the U.S. coffee market with brands like Folgers, Dunkin’, and Café Bustelo, revealed its financial results for the third quarter ended January 31, 2024.

Net sales saw a $12.9 million increase, or 1%, with comparable net sales up by 6% when excluding certain noncomparable factors.

Net price realization impacted net sales negatively by 4 percentage points, while volume/mix boosted net sales by 3 percentage points.

Outlook for the Future:

The company updated its full-year fiscal 2024 financial outlook, expecting an approximately 8.75% growth in comparable net sales.

Net sales are projected to decrease by approximately 3.6%, totaling around $8.22 billion for the year.

Segment profit rose by $3.8 million, mainly attributed to favorable volume/mix despite challenges in net price realization.

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Coffee Industry and News

Dutch Bros Inc. Announces Pricing of Public Stock Offering

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Dutch Bros Inc. Announces Pricing of Public Stock Offering

Details of the Offering

Dutch Bros Inc. has announced the pricing of a registered underwritten public offering by certain selling stockholders associated with TSG Consumer Partners, L.P. The offering consists of 8,000,000 shares of Dutch Bros’ Class A common stock at a public offering price of $29.05 per share. The offering is expected to close on or about March 1, 2024, pending customary closing conditions.

Dutch Bros’ Role

It is important to note that Dutch Bros is not offering any shares of Common Stock in this offering and will not receive any proceeds from the sale. However, the company will bear the costs associated with the sale of the shares, excluding underwriting discounts and commissions.

Underwriter and Registration Statement

Morgan Stanley is the sole underwriter for the offering. A shelf registration statement on Form S-3 related to Dutch Bros’ securities, including the Common Stock, has been filed with the SEC and became effective upon filing.

How to Obtain More Information

Investors are advised to read the prospectus supplement, accompanying prospectus, and other relevant documents filed with the SEC for a comprehensive understanding of Dutch Bros and the offering. Copies of the prospectus supplement can be obtained from the SEC’s website or requested from Morgan Stanley & Co. LLC in New York.

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Coffee Industry and News

Top Water Filtration Company to Sponsor PRF Guatemala Event

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Top Water Filtration Company to Sponsor PRF Guatemala Event

BWT water+more to Provide Premium Water for Coffee Activities

BWT water+more has announced its sponsorship of the upcoming PRF Guatemala event, set to take place on March 7th and 8th. As the official water provider for the event, the top quality water filtration company will supply its premium water for all coffee equipment and cupping activities in the branded “BWT water+more cupping room.”

Connecting Guatemalan Coffee Producers with International Buyers

The event aims to showcase regional Guatemalan coffee producers and connect them with international roasters and buyers. Industry professionals will have the opportunity to network, engage in various activities, and even sell green coffee during the 2-day forum.

Expert Lectures and Consultations on Water Treatment in Coffee

World-renowned coffee experts will share their knowledge during the event, including a lecture by BWT water+more on “The Essentials of Water Treatment in Coffee.” The company’s top export team will be available to provide expert knowledge on water filtration systems and offer consultations to attendees.

Unique Water Treatment Solutions for Coffee Brewing

BWT water+more stands out for its unique portfolio and team’s expertise in treating local waters to meet the recommended parameters for coffee brewing set by the SCA. Visitors can stop by stand 36 at PRF Guatemala for a dedicated water consultation.

Comunicaffe International: Providing Essential Information for Coffee Industry Professionals

Since its inception in 2001, Comunicaffe International has been committed to offering timely and vital information to industry operators. The newspaper focuses on coffee, cocoa, and tea supply chains to foster critical thinking and debate among professionals. With a daily newsletter reaching over 85,000 professionals worldwide, Comunicaffe International continues to be a valuable resource for the industry.

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