Retail natural and organic foods supplierFresh Harvest Products, Inc ., New York City, said it agreed to purchase an unnamed organic and natural frozen food business in Washington state. Terms were not disclosed.
Officials said the acquisition involves a private, 12-year-old-plus business with more than $1 million in annual sales. They said the company's products are distributed to retailers nationwide, including Kroger (certain regions), H-E-B, Albertson's (certain regions), and the largest U.S. natural food retailer.
"This strategic addition will advance our vision of creating a dominant natural and organic products company," said Michael Jordan Friedman, CEO of Fresh Harvest. "Acquiring a brand with revenues of over $1 million dollars is a significant step towards our aggressive growth strategy and a step in the right direction for our future. This acquisition will increase Fresh Harvest's distribution base and revenues. We also believe this acquisition will enhance our shareholders' value as we seek to grow and expand our brands."
Fresh Harvest said it expects to complete the purchase in 60 days, following due diligence by both parties.
Fresh Harvest offers a line of organic snack products and beverages, which include health bars, coffee bars, and salsa under the Wings of Nature™ name and beverages under the TeAloe™ name. In addition, Fresh Harvest provides a grocery product line, which includes several varieties of whole bean and ground coffees, and beverages.
Fresh Harvest buying frozen organic processor
December 2, 2009