Seneca Foods (SENEB) trades below its peers and recent industry M&A deal multiples despite a strong presence in the growing private label food market.
SENEB produces and distributes processed fruits and vegetables through all distribution channels including retail grocery, foodservice, industrial and other food processors. Products are sold under private label brands as well as regional/national brands (owned or licensed) such as Seneca, Libby's, Aunt Nellie's Farm Kitchen, Stokely's, Read Taste of the West, Cimarron and Tendersweet. Although a majority of sales are in the U.S., SENEB exports its products to over 80 countries.
SENEB owns 21 processing plants, two can manufacturing plants, two seed processing operations, a small farming operation and a limited logistical support...