A Pistachio Farmer, Pom Wonderful, and the FTC
12.11.10
Nov. 11 (Bloomberg BusinessWeek) -- On an unexpectedly rainy
October day in Los Angeles, Stewart Resnick looks out the window
of a third-floor conference room and shrugs. It's midway through
California's biggest-ever pistachio harvest and the rain is yet
another reminder, should anyone need it, of how important water
is to his business. He helps himself to a half a vegetable wrap
and a bottle of Fiji Water—one of the four big consumer brands
Resnick owns—and takes his place at the head of the table, where
senior executives of his private company, Roll International,
have gathered to discuss how to sell 300 million pounds of
pistachios.
Resnick, 72, is short, trim, and tanned, dressed in jeans
and a blue-and-white striped shirt. He and his wife and business
partner, Lynda, are quintessential Beverly Hills billionaires,
with a sumptuous mansion and a new $54 million pavilion named
after them at the Los Angeles County Museum of Art. They diverge
from the Beverly Hills norm, however, in this respect: The source
of their wealth is one of the biggest farms in California's
agricultural heartland—188 square miles of land, a holding four
times the size of San Francisco—aptly named Paramount. There they
grow oranges, almonds, pistachios, and pomegranates; their Pom
Wonderful juice launched the pomegranate superfood craze.
Source: Bloomberg
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