US-based food and drink co-operative has acquired the cranberry processing business of Chilean firm Agrícola Cran Chile Limitada, marking the firm’s first international acquisition.
The deal, announced today (11 January), will expand Ocean Spray’s multinational footprint and establish a sizeable cooperative presence in an important cranberry growing region, the firm said. Financial details of the deal were not disclosed.
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“This acquisition will enable us to better compete in the global dried fruit market and provide long-term benefits in returns for our grower owners,” said Ocean Spray CEO Randy Papadellis. “It also represents a new frontier for our cooperative that will diversify our fruit supply with a counter-seasonal supply of cranberries from Chile, enable us to distribute dried cranberries from a strategic South American location to new and existing international markets, and increase our capacity to produce dried cranberries by 12m pounds annually.”
Cran Chile, based in Lanco, Región de los Ríos, is one of the world’s largest cranberry growing operations and employs around 100 staff, all of which will become Ocean Spray employees on completion of the deal.
