NatureSweet Limited, grower of fresh tomatoes in North America under the NatureSweet brand, plans to purchase substantially all of the assets of EuroFresh Farms, based in Willcox and Snowflake AZ.
Both NatureSweet and EuroFresh Farms are leading producers of tomatoes in North America. EuroFresh Farms is also a leading US grower of greenhouse cucumbers.
EuroFresh filed for Chapter 11 bankruptcy January 27 with the Federal Bankruptcy Court in Tucson AZ; the acquisition will then take place through a 363 sale. This type of 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 US 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, CEO of EuroFresh Farms, said, “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’s growing operations employ more than 5,000 associates year-round. Access www.naturesweet.com for more information.
Visit www.eurofresh.com for complete information about EuroFresh Farms.
