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Seneca Foods completes the acquisition of Burnette Foods maraschino cherry businessSeneca Foods Corporation (“Seneca”) (NASDAQ:SENEA) (NASDAQ:SENEB) and Burnette Foods, Inc. (“Burnette”) announced today that Seneca has completed the acquisition of Burnette’s maraschino cherry business. This business is based in Traverse City, Michigan and allows Seneca to supplement its existing maraschino operations and Burnette to enhance its core business.
“Burnette maraschino business has a history of providing quality maraschino cherry products to their customers. We are very excited about this acquisition as it is a nice complementary fit with Seneca’s existing cherry business,” stated Kraig Kayser, Seneca Foods' President and CEO.
“We are pleased to be able to sell our maraschino business to a high quality food producer as is Seneca. Maraschinos are a small part of our total sales and this transaction will enhance our ability to concentrate on our core business lines of shelf stable fruit fillings, apple products, vegetables and juices. We will continue to explore new products for our existing red tart and dark sweet cherry offerings,” according to William R. Sherman, CEO of Burnette Foods, Inc.
Statements that are not historical facts, including statements about management’s beliefs or expectations, are forward looking statements as defined in the Private Securities Litigation Reform Act (PSLRA) of 1995. All forward-looking statements involve risks, uncertainties and contingencies which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. Factors that may cause actual results to differ materially from those in the forward-looking statements include those set forth in Seneca Foods Corporation’s filings with the SEC, including the disclosure under the heading “Risk Factors” in Seneca Foods’ Annual Report on Form 10-K. There can be no assurance that the merger will close on the expected schedule or that the merger will be consummated at all. We are under no obligation to update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.
For more information:
Seneca Foods Corporation
Timothy J. Benjamin, Chief Financial Officer
Tel.: +1 315-926-8100
Burnette Foods, Inc.
John E. Pelizzari, COO
Tel.: +1 231-264-8116
Publication date: 2/5/2018
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