Seneca Foods,a US-based canned fruits and vegetables processor,has agreed to acquire Independent Foods,a processor of canned pears,apples and cherries.
The memorandum of understanding was signed by Seneca Foods,Independent Foods Processors,and Mt.Adams Orchards.The terms of the deal were not disclosed.
The completion of the transaction is subject to the negotiation and execution of a definitive agreement between the parties,customary closing conditions,including regulatory,shareholder and lender approvals.
Independent Foods,privately held and headquartered in Washington,US,sells its products through branded and private label items to the retail,foodservice and industrial markets.
Seneca Foods markets its products under labels such as Libby's,Aunt Nellie's Farm Kitchen,Stokely's,Read,Seneca Farms and Seneca labels as well as through the private label and industrial markets.
