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The Wonderful Company
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The Wonderful Company
The Wonderful Company LLC (also known as Wonderful Co., formerly Roll Global) is a private corporation based in Los Angeles, California. With revenues of over $4 billion, it functions as a holding company for Stewart and Lynda Resnick and as such is a vehicle for their personal investments in a number of businesses.
The company currently counts the following brands as business divisions: juice company POM Wonderful, bottled water company FIJI Water and flower delivery service Teleflora.
As the current incarnation of the Resnicks' holding company, The Wonderful Company has a number of predecessors. The Resnicks first bought Teleflora and API Alarm Systems in 1979, at which time Lynda left her advertising job to become Teleflora's executive vice president of marketing, and eventually president, securing flagship TV sponsorship roles which grew the company into the nation's largest floral wire service. In 1986, they purchased The Franklin Mint, known for making model cars, souvenir plates, figurines, and Civil War-inspired chess sets. Stewart Resnick served as CEO and Chairman of the Franklin Mint Company until its sale to a private equity group in 2006. In 1989 the Resnicks formed Paramount Farms to begin growing and harvesting pistachios and almonds in California's Central Valley. In 1993, the Resnicks renamed the holding company Roll International (later Roll Global) and continued to expand their portfolio of complementary businesses in food and beverages. As of June 1, 2015, Roll Global changed its name to The Wonderful Company.
The Wonderful Company has been able to expand their agricultural operations through their ownership of the Kern Water Bank. The Kern Water Bank is a man-made underground reservoir in the Central Valley. The Department of Water Resources spent $74 million building the water bank, and it is the largest of its kind, capable of holding one million acre-feet of water. Through what some sources have called backroom negotiations, in 1994 the water bank was transferred under what's known as Monterey Plus Amendments from the public to the private ownership of the Resnicks. It was passed from the Department of Water Resources to the agribusiness-dominated Kern County Water Authority, and from there to the Kern Water Bank Authority. The Kern Water Bank Authority consists of four water districts and a private company, Westside Mutual. Westside is a shell corporation owned by Paramount Farming which is a subsidiary of The Wonderful Company. It is primarily through Westside that the Resnicks own 57% of the Water Bank. News outlets, academic papers, and advocacy groups have criticized The Wonderful Company for its possession of what was originally meant to be a public asset, and the monetary benefit they have gained through it.
The Wonderful Company has been criticized for its aggressive consumption of water in the drought ridden state of California. The company has expanded its business even as California residents have faced water shortages and the water ecosystem has been irreversibly damaged. Residents of the Central Valley, while the target of the company's charitable giving, suffer from an acute water crisis. It is also claimed that the company lobbies to privatize the state's water and funds opposition research on the impact of farming on the drought.
In 2024, the company sought to halt a new state law that would make it easier for its employees to unionize. The move came after United Farm Workers started representing some of its employees in Kern County under the recent law.
In 2015, the US Federal Trade Commission concluded that marketing claims of Pom Wonderful pomegranate juice providing anti-disease benefits were deceptive and misleading.
As of January 2019[update], the following brands are among those of The Wonderful Company and its subsidiaries:
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The Wonderful Company
The Wonderful Company LLC (also known as Wonderful Co., formerly Roll Global) is a private corporation based in Los Angeles, California. With revenues of over $4 billion, it functions as a holding company for Stewart and Lynda Resnick and as such is a vehicle for their personal investments in a number of businesses.
The company currently counts the following brands as business divisions: juice company POM Wonderful, bottled water company FIJI Water and flower delivery service Teleflora.
As the current incarnation of the Resnicks' holding company, The Wonderful Company has a number of predecessors. The Resnicks first bought Teleflora and API Alarm Systems in 1979, at which time Lynda left her advertising job to become Teleflora's executive vice president of marketing, and eventually president, securing flagship TV sponsorship roles which grew the company into the nation's largest floral wire service. In 1986, they purchased The Franklin Mint, known for making model cars, souvenir plates, figurines, and Civil War-inspired chess sets. Stewart Resnick served as CEO and Chairman of the Franklin Mint Company until its sale to a private equity group in 2006. In 1989 the Resnicks formed Paramount Farms to begin growing and harvesting pistachios and almonds in California's Central Valley. In 1993, the Resnicks renamed the holding company Roll International (later Roll Global) and continued to expand their portfolio of complementary businesses in food and beverages. As of June 1, 2015, Roll Global changed its name to The Wonderful Company.
The Wonderful Company has been able to expand their agricultural operations through their ownership of the Kern Water Bank. The Kern Water Bank is a man-made underground reservoir in the Central Valley. The Department of Water Resources spent $74 million building the water bank, and it is the largest of its kind, capable of holding one million acre-feet of water. Through what some sources have called backroom negotiations, in 1994 the water bank was transferred under what's known as Monterey Plus Amendments from the public to the private ownership of the Resnicks. It was passed from the Department of Water Resources to the agribusiness-dominated Kern County Water Authority, and from there to the Kern Water Bank Authority. The Kern Water Bank Authority consists of four water districts and a private company, Westside Mutual. Westside is a shell corporation owned by Paramount Farming which is a subsidiary of The Wonderful Company. It is primarily through Westside that the Resnicks own 57% of the Water Bank. News outlets, academic papers, and advocacy groups have criticized The Wonderful Company for its possession of what was originally meant to be a public asset, and the monetary benefit they have gained through it.
The Wonderful Company has been criticized for its aggressive consumption of water in the drought ridden state of California. The company has expanded its business even as California residents have faced water shortages and the water ecosystem has been irreversibly damaged. Residents of the Central Valley, while the target of the company's charitable giving, suffer from an acute water crisis. It is also claimed that the company lobbies to privatize the state's water and funds opposition research on the impact of farming on the drought.
In 2024, the company sought to halt a new state law that would make it easier for its employees to unionize. The move came after United Farm Workers started representing some of its employees in Kern County under the recent law.
In 2015, the US Federal Trade Commission concluded that marketing claims of Pom Wonderful pomegranate juice providing anti-disease benefits were deceptive and misleading.
As of January 2019[update], the following brands are among those of The Wonderful Company and its subsidiaries: