Orange baby-food maker denies sale report

Contrary to national news reports, officials with PBM Products — the Gordonsville-based maker of private-label baby foods — say the company is neither up for sale nor looking for buyers or partners.

“No. We’re not seeking a buyer for our company,” said Joe Shields, PBM spokesman. “We want to make it clear to our partners and customers and 600 employees and the people who buy our products that we are as committed as ever to providing moms and dads with high-quality infant formulas and foods that are competitive with national brands at half the price.”
Shields said company officials were surprised Thursday to find a report in the Wall Street Journal that indicated the company was trying to arrange for a buyer or a partial buyout. He said that was not the case.
“Because we’re a private company and successful, we’re always subject to speculation,” Shields said. “We’re not looking for a partner or to sell, especially at a time when we’ve expanded our customers base.”
PBM has company offices in Gordonsville and several manufacturing plants across the country as well as a Chinese affiliate that makes products for the Asian market. Its products range from infant formulas to children’s fruit bars, from diabetic nutritional supplements to soy-based adult nutritional drinks.

The company also manufactures baby-bottle liners and specialized pharmaceutical products for diabetics, antispasmodic supplements and treatments for enterocolitis.
Shields said PBM products make up about 97 percent of the store-brand formulas sold in the U.S. The company’s products are manufactured for and sold at Wal-Mart, Sam’s Club, Target, Kroger, Walgreens, CVS and Babies R Us.
The company also manufactures a “high-end” organic infant formula called Vermont Organics.
Gordonsville Mayor Bob Coiner, who read the Wall Street Journal story, said PBM Products and its founder and chief executive Paul Manning have made great contributions to the town.
“It’s hard to say enough good things about Paul Manning and PBM,” Coiner said. “He’s done a lot for this community, personally, a lot of things that most people have never heard about.”

Besides remodeling part of downtown Gordonsville for the PBM offices, Manning has donated equipment to the town and the police department, made contributions to local projects, and purchased, improved and is redeveloping the Village at Gordon House retirement center, a former hospital.
The company has followed the lead of its owner, Coiner said. PBM has contributed formula to victims of hurricanes, earthquakes and the December 2004 tsunami that affected Thailand, Indonesia and other countries. It has also helped keep open local swimming pools, sponsored blood drives and given to local charities and organizations.
“There are a lot of things [Manning and PBM] have contributed to the town that most people aren’t aware of,” Coiner said. “The jobs they’ve provided, the sales tax and meals tax revenue they’ve generated for us and the support they’ve given our businesses have helped Gordonsville a great deal. We’re grateful that they made their headquarters here.”

PBM’s Shields declined to talk about the company’s income figures, noting that it is privately owned rather than publicly traded and that its income and sales figures are not publicly released. He said he does not know from where the Wall Street Journal obtained its numbers, which indicated the company has about $300 million in annual sales.
“They also stated we have about 400 employees when we have close to 600,” Shields said. “I’m not sure where they are getting their figures.”