NatureSweet Limited Announces Intent to Acquire EuroFresh Farms' Assets
Acquisition would expand NatureSweet's branded product offerings
SAN ANTONIO, Texas (January 28, 2013)—NatureSweet® Limited, the leading grower of premium fresh tomatoes in North America under the NatureSweet® brand, today announced the company intends to purchase substantially all of the assets of EuroFresh Farms, based in Willcox and Snowflake, Ariz. NatureSweet and EuroFresh Farms are two of the leading producers of high-quality tomatoes in North America. EuroFresh Farms is also a leading U.S. grower of greenhouse cucumbers.
On January 27, EuroFresh filed for Chapter 11 bankruptcy with the Federal Bankruptcy Court in Tucson; the acquisition will then take place through a 363 sale. A 363 sale allows a company filing for bankruptcy to immediately market its assets to bidders, with the approval of the United States Bankruptcy Court.
Bringing EuroFresh products into the NatureSweet family provides us with new product offerings and U.S. growing facilities that we are confident will provide significant value to our customers," said Bryant Ambelang, chief executive officer and president of NatureSweet. “This acquisition is a great opportunity to continue our growth while providing customers with the premium branded tomatoes they have come to expect from NatureSweet. For the company, our customers and our associates, this is the right thing to do at the right time."
Johan van den Berg, chief executive officer of EuroFresh Farms, added, "We are pleased to have received this offer from a financially strong organization that will continue to invest in the business of growing and selling greenhouse tomatoes and cucumbers."
The court filings are not expected to affect EuroFresh Farms' ability to operate its business and deliver on current or future customer orders.
NatureSweet®, LTD, is the leading grower of premium branded fresh tomatoes in North America under the NatureSweet® brand. NatureSweet tomatoes are distributed throughout the United States at major grocers, club stores, and foodservice operators. Always vine-ripened, hand-picked, and carefully packaged, NatureSweet tomatoes consistently deliver the best taste with year-round availability. As the number one brand of tomatoes in the United States, NatureSweet's growing operations proudly employ more than 5,000 associates year-round. For more information about NatureSweet tomatoes, visit NatureSweet.com or call (520) 384-4621.
ABOUT EUROFRESH FARMS
EuroFresh Farms is a leading year-round producer and marketer of greenhouse tomatoes and cucumbers in the United States and a leading innovator in the branded, high-end fresh tomato and cucumber industry. Premium quality, safe and flavorful products are grown in two greenhouses in Willcox and Snowflake, Ariz. by 1,100 employees. For more information, visit EuroFresh.com.
September 20, 2012
EuroFresh Farms Brings New Snacking Tomato and Label to the Market at PMA
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