NatureSweet Limited, a leading grower of premium fresh tomatoes in North America, announced the company intends to purchase substantially all of the assets of EuroFresh Farms, based in Willcox and Snowflake, AZ. NatureSweet, which markets under the "NatureSweet" brand, 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.
EuroFresh filed for Chapter 11 bankruptcy protection with the Federal Bankruptcy Court in Tucson on Jan. 27. The acquisition will take place through a 363 sale, which allows a company filing for bankruptcy to immediately market its assets to bidders, with the approval of the U.S. 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,” Bryant Ambelang, chief executive officer and president of NatureSweet, said in a press release. “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.