Inventure Foods has entered into an agreement to acquire the berry processing business from Willamette Valley Fruit Company for an undisclosed sum.
The berry business has annualised revenues of US$15m and the transaction is expected to close during Inventure’s second quarter. The deal is expected to be immediately accretive to earnings, Inventure said.
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Terry McDaniel, Inventure CEO, commented: “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.”
