Plant City company not so public anymore

Investors wondering what has happened with Paradise Inc., a Plant City-based manufacturer of candied fruit and plastics, may have a difficult time getting answers.

The company's over-the-counter stock hasn't traded for the last two months, last closing June 8 at $14.70 per share. Its most recent earnings report, filed in May, noted a net loss of $205,000 through this year's first quarter, following a 10% decline in revenue of $23.2 million last year.

Paradise, which has been in business nearly a half-century, is one of Plant City's largest companies with 275 employees as well as the largest publicly traded firm headquartered there. Economic development sources tell Coffee Talk that the company appears to be operating as usual and they haven't heard about any significant changes, such as a pending ownership change.

Melvin Gordon, chairman and CEO, remains the largest owner of Paradise stock at 37.1%, followed by New York investor Salvatore Munio with 7.4%, according to the company's latest proxy statement filed with the Securities and Exchange Commission.

People still answer the phones at Paradise, but messages Coffee Talk left with key executives weren't returned in the last two weeks.