Northland Cranberries, Inc. To Purchase Juice Division Of Seneca Foods Corp.

Food Institute Report, The, August, 1998

Northland Cranberries, Inc., manufacturer of Northland brand 100% juice products and the world's largest cranberry grower, has signed a letter of intent to purchase the juice division of Seneca Foods Corporation. The final purchase price is expected to be approximately between $30-$35 million, depending upon the amount of the working capital on the day of closing. Total revenues of the business to be transferred for the fiscal year ended March 31, 1998 were approximately $105 million.

The purchase will include bottling and packaging facilities in New York, North Carolina, Wisconsin; warehousing in Michigan and a grape receiving station in New York. Also included in the intended purchase are all the rights to the TreeSweet, Awake and Orange Plus brand names, as...

Read the rest of this article with a Free Trial at HighBeam Research.

Premium Content Partnership | HighBeam Research provides an in-depth online archive library of reference works.