NatureSweet Limited, a US-based grower of fresh tomatoes, is planning to acquire all the assets of EuroFresh Farms, a US-based grower of greenhouse tomatoes and cucumbers.
EuroFresh Farms grows its products in two greenhouses located in Willcox and Snowflake, and employs 1,100 workers.
EuroFresh filed for Chapter 11 bankruptcy with the Federal Bankruptcy Court in Tucson on 27 January. The acquisition will take place through a 363 sale, which allows a company filing for bankruptcy to immediately market its assets to bidders, with the approval of the United States Bankruptcy Court.
NatureSweet chief executive officer and president Bryant Ambelang said that the company will expand its product offerings through this acquisition.
"This acquisition is a great opportunity to continue our growth while providing customers with the premium branded tomatoes they have come to expect from NatureSweet," added Ambelang.
The court filings are not expected to affect EuroFresh Farms' ability to operate its business and deliver on current or future customer orders.
