Ocean Spray announces online trading platform for cranberry concentrate

Ocean Spray’s Ingredient Technology Group is establishing a new go-to-market approach for the sale of cranberry concentrate by holding an online auction that will make available product for all qualified buyers worldwide on a consistent basis. The web-based auction process has been carefully developed with an Independent Auction Manager, CRA International. The auction will establish the clearing price for Ocean Spray’s cranberry concentrate, and will ensure supply certainty and efficient contracting – specifically critical considerations in today’s uncertain economic environment. The first auction is scheduled for July. Details can be found at www.cranberryauction.info.

As the world’s leading cranberry processor, Ocean Spray is adopting an auction-based sales process for its concentrate that is fair, transparent, and efficient. By registering on www.cranberryauction.info and participating in the auction, potential concentrate buyers can easily track and observe Ocean Spray concentrate pricing and availability. Successful bidders can quickly and easily secure supplies of concentrate with guaranteed pricing for future delivery.

Michael Stamatakos, Ocean Spray’s Vice President, Agricultural Supply and Development comments: “Our cranberry auction will ensure that all customers wanting to buy Ocean Spray concentrate will do so on a level playing field. By securing a specified volume of concentrate at an agreed price, our customers can be assured that market fluctuations will not affect them for a set period in these turbulent times. We are committed to supporting potential bidders by providing the information and education needed to participate confidently. We urge all interested parties to visit our informational site: www.cranberryauction.info at the earliest opportunity in preparation for July’s auction.”

Brad Miller, leader of the Auctions and Competitive Bidding Practice at consulting firm CRA International, added: “CRA has extensive experience in developing and managing auctions and we are pleased to assist Ocean Spray with this cranberry concentrate auction. Our experience shows that our clients and their customers find the auctions transparent, objective and easy to use, adding real value to commodity trading for buyers and sellers alike.”

The auction starting price range will be announced on www.cranberryauction.info in late June.

About Ocean Spray

Ocean Spray is an agricultural cooperative owned by more than 600 cranberry growers as well as more than 50 grapefruit growers. Ocean Spray is North America’s leading producer of canned and bottled juices and juice drinks, and has been the best-selling brand name in the canned and bottled juice category since 1981. Ocean Spray posted fiscal 2008 sales of $1.9 billion. Ocean Spray’s Ingredient Technology Group (ITG) sells cranberry concentrate worldwide, and offers an extensive portfolio of other fruit ingredients including sweetened dried cranberries, BerryFusions® Fruits, cranberry powders and purée – with total annual sales of approximately $160 million.

About CRA International

Founded in 1965, CRA International is a leading global consulting firm that offers business management, economic and financial expertise. Headquartered in Boston, CRA has offices throughout North America, Europe, the Middle East and Asia. Detailed information about CRA is available at http://www.crai.com.