Inventure Foods to acquire berry processing business
April 25, 2013
by Keith Nunes
PHOENIX — Inventure Foods, Inc. has signed a letter of intent to acquire the berry processing operations of Willamette Valley Fruit Company, L.L.C., Salem, Ore., which has annual sales of approximately $15 million. Terms of the agreement were not disclosed and the completion of the agreement is subject to the completion of due diligence by Inventure Foods.
The Willamette Valley Fruit Co. processes approximately 13 million lbs of fruit per year, including strawberries, raspberries, boysenberries, blueberries, blackberries, cranberries and Marionberries.
“We have partnered with Willamette Valley Fruit Co. through the years to meet our growing demand for fruit and look forward to combining their berry processing capabilities with ours,” said Terry McDaniel, chief executive officer of Inventure Foods. “This acquisition will help us meet the growing consumer demand for berries nationwide, while also affording us the opportunity to work more closely with the local farmers of the area. In addition to closer ties with the Oregon berry community, we also anticipate this transaction to bring additional operational synergies.”