Ocean Spray Cranberries Inc. growers
will hold a non-binding vote the week of May 23 on whether to
give PepsiCo Inc. a 50 percent stake in the business, or remain
independent, the Boston Globe reported.
New products, more advertising and lower costs have pushed
profits up, making a venture less certain than a year ago, the
Globe said, citing cranberry growers. Returns for cranberry
growers rose to $35 a barrel for the 2002 harvest, $3 more than
the company expected to make and $13 more than the 1999 crop.
Ocean Spray, a co-operative of 925 cranberries and
grapefruit growers who own the Lakeville, Mass.-based
company.
Bloomberg News
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