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May 12, 2006

US: Management completes Northland Cranberry buyout

Sun Capital Partners has sold off all of the remaining assets of one of Northland Cranberries, to an entity controlled by Northland's CEO, John Swendrowski, and his family.

Sun Capital Partners has sold off all of the remaining assets of Northland Cranberries, to an entity controlled by Northland’s CEO, John Swendrowski, and his family.

Northland, a grower, handler, processor, and marketer of cranberries, juices, and value-added cranberry products, was acquired by a Sun Capital affiliate in November 2001,

Marc J. Leder, Co-CEO of Sun Capital Partners, said: “We would like to thank the entire management team of Northland Cranberries for their contribution to the success of this investment and, in particular, John Swendrowski, who has been a great partner and friend. We wish John all the best in his new endeavor.”

John Swendrowski, CEO of Northland Cranberries, said: “It has been my pleasure to have been associated with Sun Capital Partners for almost five years. Sun Capital has proven to be fair and flexible in its dealings with our management team, customers, and vendors. They have demonstrated a sense of urgency and focus that is unusual in financial investors and were very supportive in our efforts in improving the performance of Northland Cranberries.”

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