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|Archives - November 2009|
|Wednesday, October 21, 2009|
John Hanna visits the YoCream International yogurt shop on Cascades Parkway on weekends to get a cup of Original Tart, banter with the manager, introduce himself to customers as YoCream’s CEO and ask if they’re having a good time. The 69-year-old self-identified “Portland boy” is as delighted by his customers as they are by his yogurt; he marvels that jocks and military servicemen line up for the stuff along with high school girls and moms on the way back from the gym. “When we first started this frozen yogurt thing, the slogan was ‘real men don’t eat yogurt,’” he says. “Now you go into our YoCream showroom here and there are men of all ages! The guys are enjoying it!”
In the yogurt shop, Hanna is buoyant and gregarious; in the conference room, he’s deliberate and prone to long pauses. He’s an accountant by training; YoCream was a “side investment” that took over his life in 1976 after the company's first yogurt shop in Seattle broke even in five weeks. The frozen yogurt craze that inspired Hanna and his two brothers to found YoCream inspired competitors, but most went bankrupt or shifted their attention to other products after the trend died. Hanna stuck with frozen yogurt — true frozen yogurt, which has live cultures of beneficial bacteria called probiotics — and pushed for more flavors. When cheerfully decorated fro-yo shops boomed again in the 2000s, YoCream was the only manufacturer ready to respond to the sudden demand, he says.
YoCream is now a $42 million company with clients as large as Sysco, Costco and Jack in the Box. It just completed a $4 million expansion — on the heels of a $7.5 million expansion completed in 2007 — that doubled capacity at its plant in Portland. Hanna expects the interest in frozen yogurt to keep building as more people learn about it, and YoCream is already considering a second plant on the East Coast. Demand is rising internationally, too; Hanna went to Japan last month to discuss the Japanese and Chinese markets with a prospective distributor. YoCream, which is traded on the Pink Sheets, just posted its 13th consecutive quarter of sales growth in August.
The 32-year-old company had its awkward growth stages: an early transition from franchisor to manufacturer, an IPO in 1987, delisting after Sarbanes-Oxley in 2006, and diversification into frozen beverages after a year-long internal debate. But it’s flourished rapidly with the yogurt resurgence. “We’re responding to this growth without really a hiccup,” Hanna says, referring to the trusted management team he consults on every matter, an echo of the days when he and his brothers ruled the company by consensus.
Outside advisers and the board of directors were leery of the new structure. “They said, ‘That can’t work, you need a pyramid, blah blah blah,’” Hanna says. But the structure proved effective and refreshing. “The right team was on the bus,” he says. The six senior managers have non-hierarchical titles, roughly the same compensation, and get equal bonuses based on communal goals. The sales department also adopted communal bonuses.
The company is so democratic that Hanna can’t remember who had the idea for its latest innovation, High Culture Frozen Yogurt. Released in June, it contains a strain of bacteria proven to aid digestion. High Culture has 1 billion Lactobacillus acidophilus NCFM cultures per serving, 100 times what is needed to earn the Live & Active Cultures seal from the National Yogurt Association. Hanna is banking on the increasing public awareness of probiotics, which pop up more and more in his conversations with customers in yogurt shops.
To Hanna, High Culture Frozen Yogurt is a smart investment and a social good: Yogurt is healthy, yogurt shops are happy places and all this is profitable. He prefers Original Tart, no toppings, because it reminds him of the yogurt his mom cooked on the stove when he was a kid. He has no plans to retire. “I’m having fun,” he says. “My health is good. I eat a lot of yogurt.”
Wednesday, February 25, 2015
BY KIM MOORE | OB RESEARCH EDITOR
Friday, April 17, 2015
PHOTOS BY JASON E. KAPLAN
The 32nd annual CBC attracted a record number of attendees (11,000) to the Oregon Convention Center.
Thursday, April 02, 2015
BY JACOB PALMER | DIGITAL NEWS EDITOR
Are mornings the most productive part of the day? We ask five successful executives how they get off to a good start.
Friday, February 20, 2015
BY JACOB PALMER | OB DIGITAL NEWS EDITOR
The ongoing labor disputes at the Port of Portland came to a head two weeks ago when Hanjin, the container port's largest client, notified its customers it would be ending its direct route to Oregon.
Friday, March 20, 2015
BY OB STAFF
Join us to celebrate and network with Oregon’s best green workplaces!
Wednesday, April 01, 2015
BY LINDA BAKER
Leaders in Oregon's ag sector gathered this morning in Portland’s Coopers Hall winery/taproom to discuss the role of the region as an export gateway, impediments to exporting products and solutions to containerized shipping challenges.
Friday, March 27, 2015
BY LINDA BAKER
Founded 12 years ago, Keen Inc. likes to push the envelope, starting with the debut of the “Newport” closed toe sandal in 2003. Since then, the company has opened a factory on Swan Island and a sleek new headquarters in the Pearl District. The brand’s newest offering, UNEEK, is a sandal made from two woven cords and not much more.
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Since 1932 Tidewater Transportation & Terminals (operating as Tidewater Barge Lines and Tidewater Terminal Company) has operated a multicommodity transportation and terminal company based in Vancouver, Washington. The friendly expression on the company’s shipping containers reflects the attitude of about 330 safety and community-conscious employees but belies how complicated the barge business really is.
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Providing attendees with unique taste of the Northwest Reception.
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The Atkinson Graduate School of Management at Willamette University has maintained its business accreditation by AACSB International—The Association to Advance Collegiate Schools of Business.