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Arkansas-based coffee co to invest $90 million in new plant, posts loss of $13M

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Arkansas-based coffee co to invest $90 million in new plant, posts loss of $13M


LITTLE ROCK, Ark. (KAIT) – Westrock Espresso primarily based out of Little Rock posted a internet lack of $13.018 million however noticed a 27% improve in third-quarter gross sales. The corporate is investing one other $90 million to develop its extract and ready-to-drink plant in Conway.

In accordance with Speak Enterprise and Politics, third-quarter income was $230.308 million, up 27% in contrast with the $181.277 million in the identical quarter of 2021. Income within the first 9 months of 2022 was $640.149 million, up 26.1% in contrast with the identical interval in 2021. The corporate posted a internet lack of $23.542 million within the first 9 months, above the $16.082 million loss in the identical interval of 2021.

“Our third quarter outcomes once more spotlight the product combine shift we’re seeing throughout our enterprise. The year-over-year development in our single-serve cup volumes drove Adjusted EBITDA development of 33% within the third quarter. We held greater expectations for our core espresso and tea enterprise however that was clearly impacted by the destructive results of inflation as each our buyer quantity demand and our manufacturing prices mirrored the speedy acceleration of worth will increase in gas, meals, supplies, and labor,” Scott Ford, CEO and co-founder, famous within the report. “Happily, we had been in a position to partially mitigate these impacts via operational efficiencies, and we count on to recapture many of those value will increase over the subsequent a number of quarters as our value pass-through contracts usually reset six months in arrears.”

Westrock Espresso stated development plans embody Conway’s extract and RTD plant. The brand new plant will create round 300 jobs when absolutely practical and is anticipated to be up and operating within the first half of 2024.

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“The Firm will now be including a state-of-the-art extraction expertise system, a multi-serve bottling line, and Bag-in-a-Field packaging strains to its Section I tasks that beforehand included a typical extraction system and high-speed glass bottle and canning strains. … Renovation of the ability has begun in earnest with the Firm making preliminary deposits on tools and the graduation of labor by the final contractor within the 524,000 sq. foot facility,” the corporate famous.

Speak Enterprise & Politics talked with Ford, the previous CEO of Little Rock-based Alltel, who shared a few of the firm’s targets.

“We need to construct one of many preeminent espresso, tea, taste, extract ingredient firms on this planet over the subsequent 5 to 10 years. And we need to do this on the behalf of the farmer community that we purchase espresso, tea and components from, as a result of once we do this on a non-premium, non-charity foundation, we pressure all people else within the trade to begin paying a good wage and be held accountable for what they purchase in the beginning of the origin,” Ford stated. “If we do job of that we’ll additionally make a ton of cash for our shareholders and be steward each for the funding individuals trusted us with and the crop that farmers trusted us with.”



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Arkansas

Hot chicken! John Calipari cooks spicy dish for Arkansas Razorbacks basketball | Toppmeyer

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Hot chicken! John Calipari cooks spicy dish for Arkansas Razorbacks basketball | Toppmeyer


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  • An antihero and a chicken man teamed up in Arkansas, where the Razorbacks are assembling an impressive haul of transfers from FAU to Tennessee.
  • By leaving Kentucky for Arkansas, John Calipari forced himself to adapt how he builds his rosters.
  • Arkansas booster John Tyson is believed to be fueling a mighty NIL push for John Calipari’s Razorbacks.

The last time a chicken man and an antihero teamed up, both fellas met grisly ends.

“Breaking Bad,” that story was called.

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For the sequel, a tastier development is unfolding for the Arkansas Razorbacks, where mega-booster John Tyson and John Calipari are cooking up some spicy kind of dish.

The former Kentucky coach is building the best roster chicken patties can buy.

Neither Calipari nor Arkansas athletic director Hunter Yurachek hid the reality that Tyson, the chairman of the Tyson Food company’s board, wielded significant influence in getting his friend, Calipari, to leave Kentucky for Arkansas.

The unstated implication: Calipari would enjoy rich NIL backing to reload Arkansas’ roster.

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Arkansas basketball transfers came from Florida Atlantic to Tennessee

Just look at what Calipari already has on the grill.

He’s assembled a robust transfer class featuring Florida Atlantic’s Johnell Davis, Tennessee’s James Aidoo and Kentucky’s Zvonimir Ivisic.

Big Blue Nation must be wondering, where was this Calipari in Lexington? This marks a pivot from how Calipari built his Kentucky rosters, where he relied on blue-chip youngsters, even after the transfer era took hold. Although Calipari didn’t completely ignore transfers, he undervalued them.

TOPPMEYER: Hope in Mark Pope? A few more thoughts on Kentucky’s basketball hire to replace John Calipari

While transfers starred for other teams making deep NCAA Tournament runs, Calipari insisted on doing things the old way at Kentucky, signing one ballyhooed recruiting class after another of talented teenagers, rather than stock up on a few more experienced veterans from the portal.

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As Kentucky’s coach, Calipari stubbornly admitted he wouldn’t adapt how he built his roster.

“I’ve done this with young teams my whole career. It’s going to be hard for me to change that. … I don’t see myself just saying, ‘OK, we’re not going to recruit freshmen,’ ” Calipari said after his final game at Kentucky, a first-round NCAA Tournament loss to 14th-seeded Oakland.

While UK’s freshmen struggled in that loss, Oakland rallied around the sharp shooting of 24-year-old Jack Goelke, a Division II transfer.  

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By leaving Kentucky, John Calipari forced himself to adapt

Change is more difficult when surrounded by temptation.

If you want to lose weight, you don’t stock the cupboard with sweets. Likewise, Calipari enjoyed the ability to stockpile McDonald’s All-Americans at Kentucky, making it difficult for him to reserve more roster spots for proven transfers.

Now, he’s forced to adapt.

Calipari inherited an Arkansas roster with one player on it. Literally, one guy: walk-on, Lawson Blake.

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As Calipari quipped shortly after his hire: “I met with the team. There is no team.”

Calipari could not possibly field a competitive roster next season without relying on transfers.

Fueled by necessity and chicken bucks, he’s landed some good ones – none better than FAU’s Davis. You’ll recall Davis starred in the 2023 NCAA Tournament while the Owls hooted and hollered into the Final Four. Aidoo and Ivisic are no Zach Edey, but they’re helpful big men with March Madness experience.

By escaping out Kentucky’s hatch door while the posse closed in, Calipari bolted off the hot seat and ran toward freedom. He also gave himself permission to change his ways, because he has no other choice.

Arkansas afforded Calipari a fresh lease on coaching. This may be no “dream job,” as Calipari called blue-blooded Kentucky, but it’s a good job with ample resources. And Calipari is proving that, whatever coaching shortcomings he might have displayed throughout a few disappointing NCAA Tournament exits these past few years, he remains a master at luring talent.

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As Calipari correctly stated after his hire, the best teams don’t rely exclusively on transfers, but feature important players whom the program signed, retained and developed.

Look to UConn for the model. The Huskies’ top two scorers were transfers, Tristen Newton and Cam Spencer. They melded one-and-done freshman Stephon Castle and a few talented veterans whom UConn developed in-house.

That’s the golden ticket.

Calipari never will completely turn his back on elite recruits. Three national top-30 prospects who had planned to play for Calipari at Kentucky will follow him to Arkansas. They’ll blend with this impressive transfer haul. Building roster chemistry will form Calipari’s next task.

Calipari is damaged goods, but this forced reboot could do him good. Now, this antihero enjoys the power of pollo behind him.

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Blake Toppmeyer is the USA TODAY Network’s SEC Columnist. Email him at BToppmeyer@gannett.com and follow him on Twitter @btoppmeyer.

A digital subscription will allow you access to all of his coverage. Also, check out his podcast, SEC Football Unfiltered, or access exclusive columns via the SEC Unfiltered newsletter.





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Arkansas vs. Kentucky Baseball Game 2: How to watch and listen, pitching matchup, forecast, what to know | Whole Hog Sports

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Arkansas vs. Kentucky Baseball Game 2: How to watch and listen, pitching matchup, forecast, what to know | Whole Hog Sports


SCHEDULED GAME TIME

Saturday, 1 p.m. Central at Kentucky Proud Park (7,000) in Lexington, Ky.

RECORDS 

Arkansas 40-7, 17-5 SEC

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Kentucky 33-10, 16-6 SEC

STREAKS

Arkansas won 3

Kentucky lost 2

LAST 10 GAMES

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Arkansas 8-2

Kentucky 5-5

COACHES 

Arkansas: Dave Van Horn — 879-448 in 22nd season at Arkansas and 1,199-605 in 30th season overall in Division I. 

Kentucky: Nick Mingione — 251-160 in eighth season at Kentucky and overall.

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SERIES HISTORY

Arkansas leads 48-26

LAST MEETING

Arkansas defeated Kentucky 10-3 on Friday in Lexington, Ky.

TELEVISION 

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The game will be streamed on SEC Network+ and can be accessed on WatchESPN.com and via the ESPN app (carrier login required). Dick Gabriel (play-by-play) and Doug Flynn (analyst) will be on the call.

RADIO 

Phil Elson will call the game on the Razorback Sports Network, which can be accessed through local FM and AM affiliates, via the Arkansas Razorbacks Gameday app, via the Varsity Network app or on ArkansasRazorbacks.com. Blackouts may apply.

STARTING PITCHERS

Arkansas: RHP Brady Tygart — 4-1, 2.68 ERA, 1.17 WHIP in 53 2/3 innings.

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Kentucky: LHP Dominic Niman — 7-3, 5.00 ERA, 1.30 WHIP in 54 innings.

TEAM COMPARISONS

Earned Run Avg.: Arkansas 3.12; Kentucky 4.70

Runs Per Game: Arkansas 6.94; Kentucky 8.23

Batting Avg.: Arkansas .273; Kentucky .292

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Opp. Batting Avg.: Arkansas .202; Kentucky .231

Slugging Pct.: Arkansas .449; Kentucky .505

On-Base Pct.: Arkansas .392; Kentucky .411

Fielding Pct.: Arkansas .982; Kentucky .978

FORECAST

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According to the National Weather Service, showers and thunderstorms are possible Saturday afternoon in Lexington, Ky. The high is forecast at 79 degrees. Southwest winds will blow 6-8 mph.

WHAT TO KNOW

• Arkansas has a one-game lead over Kentucky atop the SEC standings. 

• Arkansas is ranked second and Kentucky is ranked eighth in the USA Today Baseball Coaches Poll. 

• The Razorbacks were predicted to win the SEC and the Wildcats were predicted to finish fifth in the SEC East by league coaches. 

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• Kentucky has a 17-5 record at Kentucky Proud Park. Arkansas has a 6-4 record on the road. 



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17 Arkansas cities, counties share $8.5M in community development grants | Arkansas Democrat Gazette

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17 Arkansas cities, counties share $8.5M in community development grants | Arkansas Democrat Gazette


Seventeen Arkansas cities and counties have been awarded a combined $8.5 million in Community Development Block Grants, the Arkansas Economic Development Commission announced.

The 17 cities and counties all received roughly $500,000 for various infrastructure or community projects. The grants are funded by the U.S. Department of Housing and Urban Development and are distributed by the states.

To be eligible for a grant under the program, a community has to have a population of fewer than 50,000 residents and must show that a majority of the people who would benefit from the funding are low- to moderate-income or it would eliminate slums or blight, according to the U.S. Department of Housing and Urban Development.

“When the federal government works right, in coordination with state and local experts, the results can be fantastic,” Gov. Sarah Huckabee Sanders said Thursday. “The Community Development Block Grant program is an example of state and federal collaboration. We can thank our congressional delegation for this 50-year-old program’s success, keeping it out of the hands of special interest groups and making it determined solely on community size and need.”

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The grants announced Thursday are a portion of the $17.8 million the state has received for the General Assistance set-aside under the program for fiscal year 2023, according to a news release from the governor’s office. Communities may apply for grants ranging from $75,000 to $1 million.

To help determine which communities should receive the funding, the Arkansas Economic Development Commission travels around and holds town hall forums to get public input, according its website.

“With these grants, our communities will have better infrastructure and better quality-of-life amenities,” said Clint O’Neal, executive director of the Arkansas Economic Development Commission.

Established through federal law in 1974, Arkansas first began receiving Community Development Block Grants in 1983. In total, the state has received more than $900 million in grant funding for 2,390 projects across the state, according to the news release.

The Arkansas cities and counties that have been awarded Community Development Block Grants are:

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Columbia County: $500,000 for an after-school youth center.

Dierks (Howard County): $499,743 for water system improvements.

Dumas (Desha County): $499,935 for sewer system improvements.

East Camden (Ouachita County): $499,420 for sewer system improvements.

Garland City (Miller County): $500,000 for pond levee improvements.

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Hope (Hempstead County): $500,000 for wastewater system improvements.

Jennette (Crittenden County): $500,000 for water system improvements.

Kensett (White County): $499,750 for wastewater treatment plant improvements.

Kingsland (Cleveland County): $500,000 for pump station improvements and pipe repairs.

Lockesburg (Sevier County): $500,000 for water tank improvements.

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Logan County: $485,556 for senior center renovations.

Lonoke (Lonoke County): $500,000 for sewer line rehabilitation.

Lonoke County: $500,000 for a developmentally disabled vocational training facility.

Pangburn (White County): $500,000 for wastewater collection system rehabilitation.

Peach Orchard (Clay County): $498,920 for water line rehabilitation.

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Sparkman (Dallas County): $496,426 for wastewater rehabilitation.

Van Buren County: $500,000 for road improvements.



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