ThreeSixty Asset Advisors and Tauber-Arons Auctioneers have announced that the firms will conduct a real-time virtual public auction of the processing, packaging and farming equipment of Scarborough Farms on November 12, 2020. Meanwhile, the firms are entertaining offers from buyers interested in purchasing the assets to continue operations.
Virtual public auction of the processing, packaging and farming equipment of Scarborough Farms will take place on Nov. 12, 2020.
Scarborough Farms was established in 1986 by Ann Stein and Wayne Jansen, who shared a passion for producing the kind of fresh, quality products their own families could enjoy. Over the next 34 years, the family built a reputation for both quality and superb customer service, catering to an elite customer base including celebrity clientele, fine dining restaurants and fast casual restaurants nationwide. Scarborough Farms generated thirteen million in sales in 2019 but has suffered greatly this year as a result of the corona virus.
"We are so proud of our reputation and the name we built in the specialty leafy greens and herbs niche. It breaks my heart that we may no longer be able to serve our long-standing customers," says Scarborough Farms owner, Ann Stein.
The company operates from its Oxnard, California warehouse and processing facility with several leased farms nearby. A turnkey purchaser would have the opportunity to carry on operations at any or all of these facilities, as well as carry on the Scarborough name and the company's signature trademark product, Circus Frisee®. A testament to the company, culinaryproduce.com recently posted "with the closing of Scarborough Farms, we will lose the finest frisee grown in the country. From the circus variety to beautiful blanched full heads, it has been the best in the land."
If sold at auction, the sale will take place on November 12 using a real-time virtual public auction. Buyers may visit the facilities prior to the auction to view such items as an NSEP salad spring mix wash line, Vegatronic 1000 form-fill-sealer, manual wash lines, centrifugal dryers and shaker tables, a TRJ 8-Pallet Vacuum Cooler, refrigerated trucks and vans, Forklifts, John Deere tractors, a compost spreader, Ortomec leaf vegetable harvesters and miles of irrigation lines and sprinklers.
"We hold out hope that a buyer will step up for this well positioned niche business. It's sad to see the pervasive trickle-down impact covid-19 has had on businesses such as Scarborough," adds Jeff Tanenbaum, President of ThreeSixty Asset Advisors.
ThreeSixty Asset Advisors
Tel.: (805) 496-8087