NatureSweet Acquires Eurofresh Farms
San Antonio, TX
By Eric Anderson
4.2.13
NatureSweet Ltd. has purchased the majority of the assets of greenhouse tomato grower Eurofresh Farms in a bankruptcy auction, on the heels of the company’s Chapter 11 bankruptcy filing in January.
The purchase was made through a procedure that allows a company filing for bankruptcy to immediately market its assets to bidders. The sale to NatureSweet was approved by U.S. Bankruptcy Judge Eileen W. Hollowell.
NatureSweet planned to submit a bid for $51.2 million, plus any money the company lends to Eurofresh and interest, fees, and costs, according to Eurofresh’s filing.
NatureSweet and Eurofresh are two of the leading producers of fresh tomatoes in North America. Eurofres has more than 300 acres of greenhouses in Willcox and Snowflake and is also is a leading U.S. grower of greenhouse cucumbers. San Antonio-based NatureSweet grows its tomatoes in central Mexico.
“This asset acquisition represents a great opportunity for us to continue growing,” NatureSweet CEO Bryant Ambelang said in a statement. “It will help further strengthen our position as the leading producer of premium-branded, best tasting tomatoes and enable us to continue providing customers with top-quality products.”
.
NatureSweet
