US: NatureSweet's acquisition of EuroFresh approved

“We are pleased to announce the United States Bankruptcy Court in Arizona approved the sale of substantially all of the assets of EuroFresh Farms to NatureSweet’s subsidiary, Zona Acquisition Company, LLC.," said Bryant Ambelang, CEO of NatureSweet. "This was concluded though an asset auction process known as a 363 sale, which allows a company filing for bankruptcy to market its assets to bidders. The auction follows our late January 2013 announcement of our intent to acquire EuroFresh Farms’ assets when EuroFresh filed for Chapter 11 bankruptcy protection. We expect the transaction to be completed in April."

This asset acquisition represents a great opportunity for us to continue growing. It will help further strengthen our position as the leading producer of premium-branded, best tasting tomatoes and enable us to continue providing customers with top-quality products."

He concludes, "We will be sharply focused on taking a balanced approach to bringing EuroFresh Farms products and customers into the NatureSweet family.”