Universal Corporation is a multinational agriproducts company focused on the tobacco industry and plant-based ingredients for food and beverage markets, operating globally with significant revenue from major multinational clients.

# Company Overview: Universal Corporation

## Business Nature
Universal Corporation is a global business-to-business agriproducts company primarily focused on the leaf tobacco industry and specialized plant-based ingredients for food and beverage markets. The company operates across two main segments: **Tobacco Operations** and **Ingredients Operations**.

### Tobacco Operations
- **Core Activities**: Contracting, procuring, processing, packing, storing, and shipping leaf tobacco.
- **Product Types**: Includes flue-cured, burley, dark air-cured, and oriental tobaccos, used mainly for producing cigarettes, cigars, and other tobacco products.
- **Customer Base**: The company serves major multinational cigarette and cigar manufacturers, with six largest customers accounting for approximately **60% of total revenue**.
- **Operations**: Conducted in over **30 countries**, with a significant footprint in major tobacco-producing regions.

### Ingredients Operations
- **Core Activities**: Provides a range of plant-based ingredients including fruit and vegetable juices, concentrates, dehydrated products, and botanical extracts.
- **Customer Base**: Services large multinational food and beverage companies, small independent manufacturers, and retail organizations.
- **Key Brands/Operations**: The segment incorporates **FruitSmart**, **Silva**, and **Shank's**, which engage in processing and supplying various food and beverage-related products.

## Financial Highlights (Fiscal Year 2024)
- **Revenue**: Approximately **$2.75 billion**.
- **Operating Income**: Approximately **$222 million**.
- **Net Income**: Approximately **$133 million**.
- **Number of Shares Outstanding**: 24,573,408 shares.

## Workforce
- **Employees**: The company employs a diverse workforce across its global operations. Specific employee numbers are not detailed but are indicative of a large multinational operation.

## Summary of Operations
Universal Corporation plays a crucial role in the supply chain of the tobacco industry while also diversifying its portfolio into food and beverage ingredients. The company benefits from its established relationships with leading global manufacturers and continues to adapt to changing market demands while ensuring quality and sustainability in its operations.

Universal Corporation is a leading global agriproducts company specializing in leaf tobacco and plant-based ingredients, with over 27,000 employees and operations in more than 30 countries.

# Universal Corporation Overview

## Company Profile
- **Type:** Global agriproducts company
- **Experience:** Over 100 years of operation 
- **Presence:** Operations in over 30 countries on five continents
- **Website:** [Universal Corporation](http://www.universalcorp.com)

## Business Segments
Universal Corporation operates through two primary segments:

### 1. **Tobacco Operations**
- **Role:** Leading global leaf tobacco supplier, linking farmers and manufacturers of consumer tobacco products.
- **Products and Services:**
  - Procures and processes various types of tobacco (flue-cured, burley, dark air-cured, and oriental).
  - Provides specialty services (custom blending, chemical and physical testing, service cutting, reconstituted leaf tobacco manufacturing).
- **Key Customers:** Sales to major customers including Altria, British American Tobacco, and Philip Morris International account for approximately 60% of consolidated revenues.
- **Seasonality:** Operates tobacco processing plants for 7-9 months a year, with higher revenue recognized in the second half of the fiscal year.
  
### 2. **Ingredients Operations**
- **Role:** Provides plant-based ingredients to the food and beverage industry.
- **Products:**
  - Specialty plant-based ingredients including fruits, vegetables, botanical extracts, and flavorings.
- **Customer Base:** Serves a diverse range of food and beverage manufacturers, retailers, and food service providers. None of the customers accounted for more than 10% of revenues in fiscal year 2024.
  
## Financial Performance (Fiscal Year 2024)
- **Total Revenues:** Approximately $2.7 billion
- **Total Operating Income:** $222.0 million
- **Total Segment Operating Income:** $226.3 million

## Workforce
- **Employees:** Over 27,000 employees, with approximately 60% being seasonal and 40% full-time.
- **Demographics:**
  - Nearly 50% of employees are female.
  - More than 20% of managers are female.
- **Collective Bargaining:** Twelve collective bargaining agreements cover around 52% of the workforce.

## Key Investments and Acquisitions
- Invested in and integrated businesses such as:
  - **FruitSmart, Inc.** (Acquired on January 1, 2020)
  - **Silva International, Inc.** (Acquired on October 1, 2020)
  - **Shank's Extracts, LLC** (Acquired on October 4, 2021)

## Sustainability Commitment
- Focused on sustainability practices through programs for crop traceability, environmental stewardship, and fair labor management.
- Implement Sustainability Report annually to disclose operational activities related to social and environmental performance.

## Conclusion
Universal Corporation successfully positions itself as a leading global player in both the tobacco and plant-based ingredient industries, emphasizing sustainability, customer service, and operational efficiency while maintaining a significant workforce and generating substantial revenues.

UNIVERSAL CORP /VA/

10-K / April 21, 2025

10-K / May 29, 2024

10-K / April 21, 2025

Company Overview: Universal Corporation

Business Nature

Tobacco Operations

Ingredients Operations

Financial Highlights (Fiscal Year 2024)

Workforce

Summary of Operations