5 unchanged sentences
If canned vegetable, frozen vegetable, or jarred fruit categories decline, less shelf space will be devoted to these categories in the supermarkets.
−Removed: Fresh and perishable businesses are improving their delivery systems around the world and the availability of fresh produce is impacting the consumers purchasing patterns relating to packaged fruit and vegetables.
+Added: Fresh and perishable businesses are improving their delivery systems around the world and the availability of fresh produce is impacting the consumer purchasing patterns relating to packaged fruit and vegetables.
Our financial performance and growth are related to conditions in the United States’ fruit and vegetable packaging industry which is a mature industry.
24 unchanged sentences
As most of our vegetables are produced in more than one part of the United States, this somewhat reduces the risk that our entire crop will be subject to disastrous weather.
−Removed: The upper Midwest is the primary growing region for the principal vegetables which we pack, namely peas, green beans and corn, and it is also a substantial source of our competitors’ vegetable production.
+Added: The upper Midwest is the primary growing region for the principal vegetables which we pack, namely peas, green beans and sweet corn, and it is also a substantial source of our competitors’ vegetable production.
A sizeable portion of our vegetable production areas are serviced with irrigation systems to help minimize (i) wet conditions for planting and (ii) dry conditions during the growing season.
14 unchanged sentences
If a significant percentage of our workforce or the workforce of our third-party business partners is unable to work, including because of illness or travel or government restrictions in connection with a pandemic or disease outbreak, our operations may be negatively impacted.
−Removed: Some of our workforce dwell in company provided housing and therefore any outbreaks would need to be managed, to the extent possible, to meet health care protocols.
+Added: Some of our workforce dwell in company provided housing and therefore any outbreaks would need to be managed, to the extent possible, to meet healthcare protocols.
Pandemics or disease outbreaks could result in a widespread health crisis that could adversely affect economies and financial markets, consumer spending and confidence levels resulting in an economic downturn that could affect customer and consumer demand for our products.
9 unchanged sentences
All of our products compete with those of other national and regional food packaging companies under highly competitive conditions.
−Removed: The fruit and vegetable products which we sell under our own brand names not only compete with fruit and vegetable products produced by food packaging competitors, but also compete with products we produce and sell under contract packing agreements with other companies who market those products under their own brand names and the vegetables we sell to various retail grocery chains which carry our customer’s own brand names.
+Added: The fruit and vegetable products which we sell under our own brand names not only compete with fruit and vegetable products produced by food packaging competitors, but also compete with products we produce and sell under contract packing agreements with other companies who market those products under their own brand names and the vegetables we sell to various retail grocery chains which carry our customers’ own brand names.
The customers who buy our products to sell under their own brand names control the marketing programs for those products.
2 unchanged sentences
There are competitive pressures and other factors which could cause our products to lose market share or result in significant price erosion that could materially and adversely affect our business, financial condition and results of operations.
−Removed: The domestic packaged food industry continues to face import competition which has increased in recent years.
+Added: The domestic packaged food industry continues to face import competition.
The ramifications include, but are not limited to, market oversaturation, inferior quality of imported products competing in the same market as products sourced from the United States, and potential increased pricing pressure on domestic producers for finished goods.
17 unchanged sentences
However, we cannot assure you that we will not incur claims or liabilities for which we are not insured or that exceed the amount of our insurance coverage.
−Removed: A product liability judgment against us or a product recall or the damage to our reputation resulting therefrom could have a material adverse effect on our business, consolidated financial condition, results of operations or liquidity.
+Added: A product liability judgment against us or a product recall or the damage to our reputation resulting therefrom could have a material adverse effect on our business, financial condition, results of operations or liquidity.
Pending and future litigation may lead us to incur significant costs.
1 unchanged sentence
Even when not merited, the defense of these lawsuits may divert our management’s attention, and we may incur significant expenses in defending these lawsuits.
−Removed: In addition, we may be required to pay damage awards or settlements or become subject to injunctions or other equitable remedies, which could have a material adverse effect on our business, consolidated financial condition, results of operations or liquidity.
−Removed: The outcome of litigation is often difficult to predict, and the outcome of pending or future litigation may have a material adverse effect on our business, consolidated financial condition, results of operations or liquidity.
+Added: In addition, we may be required to pay damage awards or settlements or become subject to injunctions or other equitable remedies, which could have a material adverse effect on our business, financial condition, results of operations or liquidity.
+Added: The outcome of litigation is often difficult to predict, and the outcome of pending or future litigation may have a material adverse effect on our business, financial condition, results of operations or liquidity.
We face risks associated with our defined benefit pension plan.
−Removed: We maintain a company-sponsored defined benefit pension plan.
+Added: We maintain a company-sponsored noncontributory defined benefit pension plan.
A deterioration in the value of plan assets resulting from poor market performance, a general financial downturn or otherwise could cause an increase in the amount of contributions we are required to make to these plans.
1 unchanged sentence
or global financial markets.
−Removed: For a more detailed description of the pension plan, refer to the information set forth under the heading “ Retirement Plans ” in Note 10 of the Notes to Consolidated Financial Statements in Part II, Item 8, “Financial Statements and Supplementary Data.” An obligation to make additional, unanticipated contributions to our defined benefit plans could reduce the cash available for working capital and other corporate uses and may have a material adverse effect on our business, consolidated financial position, results of operations and liquidity.
−Removed: Our business is dependent on our information technology systems and software, and failure to protect against or effectively respond to cyber-attacks, security breaches, or other incidents involving those systems, could adversely affect day-to-day operations and decision making processes and have an adverse effect on our performance and reputation.
+Added: For a more detailed description of the pension plan, refer to the information set forth under the heading “ Retirement Plans ” in Note 9 of the Notes to Consolidated Financial Statements in Part II, Item 8, “Financial Statements and Supplementary Data.” An obligation to make additional, unanticipated contributions to our defined benefit plans could reduce the cash available for working capital and other corporate uses and may have a material adverse effect on our business, financial condition, results of operations and liquidity.
+Added: Our business is dependent on our information technology systems and software, and failure to protect against or effectively respond to cyberattacks, security breaches, or other incidents involving those systems, could adversely affect day-to-day operations and decision making processes and have an adverse effect on our performance and reputation.
The efficient operation of our business depends on our information technology systems, which we rely on to effectively manage our business data, communications, logistics, accounting, regulatory and other business processes.
1 unchanged sentence
In addition, our information technology systems may be vulnerable to damage or interruption from circumstances beyond our control, including systems failures, natural disasters, terrorist attacks, viruses, ransomware, security breaches or cyber incidents.
−Removed: Cyber-attacks are becoming more sophisticated and are increasing in the number of attempts and frequency by groups and individuals with a wide range of motives.
+Added: Cyberattacks are becoming more sophisticated and are increasing in the number of attempts and frequency by groups and individuals with a wide range of motives.
A security breach of sensitive information could result in damage to our reputation and our relations with our customers or employees.
3 unchanged sentences
We generate agricultural food packaging wastes and are subject to substantial environmental regulation.
−Removed: As a food packager, we regularly dispose of produce wastes (silage) and processing water as well as materials used in plant operation and maintenance and our plant boilers, which generate heat used in packaging and can manufacturing operations, producing generally small emissions into the air.
+Added: As a food packager, we regularly dispose of produce wastes (silage) and processing water as well as materials used in plant operation and maintenance.
+Added: This includes our plant boilers, which generate heat used in packaging and can manufacturing operations, producing generally small emissions into the air.
These activities and operations are regulated by federal and state laws and the respective federal and state environmental agencies.
2 unchanged sentences
Our production capacity for certain products and commodities is concentrated in a limited number of facilities, exposing us to a material disruption in production in the event that a disaster strikes.
−Removed: We only have one plant that produces fruit products and one plant that produces pumpkin products.
+Added: We only have one plant that produces cherry products and one plant that produces pumpkin products.
We have two plants that manufacture empty cans, one with substantially more capacity than the other, which are not interchangeable since each plant cannot necessarily produce all the can sizes needed.
46 unchanged sentences
Our results are dependent on successful marketplace initiatives and acceptance by consumers of our products.
−Removed: Our product introductions and product improvements, along with other marketplace initiatives, are designed to capitalize on new customer or consumer trends.
−Removed: The FDA has issued a statement on sodium which referred to an Institute of Medicine statement that too much sodium is a major contributor to high blood pressure.
−Removed: Some of our products contain a moderate amount of sodium per recommended serving, which is based on consumer preferences for taste.
−Removed: In order to remain successful, we must anticipate and react to these new trends and develop new products or packages to address them.
−Removed: While we devote significant resources to meeting this goal, we may not be successful in developing new products or packages, or our new products or packages may not be accepted by customers or consumers.
+Added: Our product introductions and improvements of existing products, along with other marketplace initiatives, are designed to capitalize on new and evolving customer or consumer trends and preferences.
+Added: Shifts in consumer trends and preferences may result from several factors, including dietary trends, attention to nutritional aspects and concerns (perceived or substantiated) about the health effects of and the sourcing of certain ingredients.
+Added: For example, the FDA has issued a statement on sodium which referred to an Institute of Medicine statement that too much sodium is a major contributor to high blood pressure.
+Added: Some of our products contain a moderate amount of sodium per recommended serving, which is based on and aligns with consumer preferences for taste.
+Added: In addition, there is the potential for increased government regulation of certain color additives which may include additional labeling requirements.
+Added: Specific products within our portfolio could be impacted resulting in the need to modify our ingredient composition or develop alternative color additives.
+Added: To remain competitive, we must anticipate and react to these trends and preferences.
+Added: While we devote significant resources to meeting this goal, we may not be successful in developing new products or appropriate alternative ingredients that are acceptable by customers or consumers and meet the requirements of government regulatory agencies.
Financing Risks
29 unchanged sentences
These shareholders, if acting together, would be in a position to control the election of our directors and to effect or prevent certain corporate transactions that require majority or supermajority approval of the combined classes, including mergers and other business combinations.
−Removed: This may result in us taking corporate actions that shareholders may not consider to be in their best interest and may affect the price of our common stock.
+Added: This may result in us taking corporate actions that shareholders may not consider to be in their best interest and may affect the market price of our common stock.
As of March 31, 2025, our current executive officers and directors beneficially owned 13.37% of our outstanding shares of Class A common stock, 54.79% of our outstanding shares of Class B common stock and 27.12% of our voting preferred stock, or 41.06% of the combined voting power of our outstanding shares of capital stock.
28 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.