Ocean Spray Acquires Cranberry Processor in Chile

Ocean Spray Acquires Cranberry Processor in Chile

Ocean Spray Cranberries has acquired the cranberry processing business of Agricola Cran Chile Limitada, which is based in Lanco, Region de los Rios in Chile.

Cran Chile will retain its cranberry growing operation and its raspberry and blueberry juice concentrate business as part of the acquisition, officials said.  

The deal marks Ocean Spray’s first international acquisition. As part of the agreement, the company has purchased all land and assets related to receiving, storing, processing and distributing dried cranberries. All of the nearly 100 Cran Chile plant employees will become Ocean Spray employees.

“Ocean Spray is proud to welcome Cran Chile employees into our family,” said Randy Papadellis, president and chief executive officer of Ocean Spray. “Cran Chile’s reputation for quality and excellence in cranberry processing is a good strategic fit and well better help the Cooperative accelerate the growing global demand for dried cranberries, the fastest-growing product in Ocean Spray’s portfolio.”

Financial terms of the acquisition were not disclosed.  

Source: BizSmart