2023 December Board Book

Processor Updates Joseph Farms – adding string cheese processing capabilities by end of the year. 1 st production planned for February/March of 2024. This information is still highly confidential as we do not want their incumbent supplier to cut off supply before the line is up and running next year. Current volume estimated at 1M lbs. annually. The new line will have up to 2M-2.5M lbs. of total capacity. We have been working with the Joseph Farms leadership to plan top to top discussions with potential retailers/accounts. In preparation for these discussions, our team will conduct a market survey to better understand product, size, packaging, brands and assortment in Retailers, Foodservice, and International markets. Joseph Farms currently sells to Walmart, Costco, Kroger, Food4Less, Hispanic markets, 99ct Stores, and Amazon Fresh. Rumiano - Seeking more automation for their C+W operations to run more cost effectively and efficiently. Current operations rely on heavy general labor and personnel. Focus for 2024 will continue to be organic business and less conventional. New organic pouches and snacking innovation planned for next year. Cacique – Processing operations have exited California as of October 19, 2023. Our marketing focus will naturally shift to remaining Ethnic-Focused processors including Marquez, Rizo, Karoun, etc. Churn Butter has decided to remove the RCM seal due to ongoing challenges with procuring grassfed supply. Rizo Lopez - Plans for plant expansion in 2024.