A chill deal: Simeus Foods International partners with Unilever.SIMEUS FOODS INTERNATIONAL INC inc - /ink/ increment, i.e. increase by one. Especially used by assembly programmers, as many assembly languages have an "inc" mnemonic. Antonym: dec. . recently signed a long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. agreement with Unilever's food service division, FoodSolutions North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , to handle the production of all of the company's branded frozen products distributed throughout the U.S., Canada Canada (kăn`ədə), independent nation (2001 pop. 30,007,094), 3,851,787 sq mi (9,976,128 sq km), N North America. Canada occupies all of North America N of the United States (and E of Alaska) except for Greenland and the French islands of and parts of the Caribbean. "The value of the contract on an annual basis could range between $15 million and $25 million," says Dumas Simeus, founder and chairman of Simeus Foods (No. 35 on the BE INDUSTRIAL/SERVICE 100 list with $125 million in sales). Simeus Foods will oversee Knott For the cofounder of Knott's Berry Farm, see . Knott is a mountain in the northern part of the English Lake District. It is the highest point of the Back o'Skiddaw region, an area of wild and unfrequented moorland to the north of Skiddaw and Blencathra. , the 169-year-old producer of frozen soups and sauces and Unilever's largest brand, generating annual sales of more than $6 billion internationally. "For a branded company like us, it is a tough decision to [hand over Unilever's] family jewels," says Norman Clubb, president and COO (Cell Of Origin) See mobile positioning. of Unilever Foodsolutions North America. "Their investment in the future--for production and state-of-the art facilities--was a factor that helped Simeus stand out," says Clubb. Additionally, Simeus Foods will gain responsibility for Unilever's custom frozen solution accounts, which produces products for casual dining chains such as Atlanta Bread and Applebee's. In 2006, Simeus Foods received a $5 million cash investment from Wal-Mart Stores Inc. "That investment helped us acquire and update our production facilities and become more attractive to potential partners such as Unilever," says Simeus. "I am very excited about this [co-packaging] partnership" he adds. "It is recognition by one of the largest food companies in the world of our skills, quality of management, and ability to provide first-class products and services." |
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