PHOENIX — Inventure Foods, Inc. has completed its acquisition of the berry processing business of Willamette Valley Fruit Company, L.L.C.
As a part of the transaction, Inventure said it has assumed liabilities relating to business contracts after the closing date and paid an aggregate amount of $9.5 million.
The acquisition includes the berry processing equipment assets, building and ground leases, and other intellectual property and inventory rights. It was completed on May 28.
“This transaction further underscores our commitment to providing healthy food options to consumers and will help us meet the growing demand for our frozen berries,” said Terry McDaniel, chief executive officer. “The acquired business is well positioned within the Oregon berry community, and we look forward to strengthening our ties with the grower community. We are also excited about the additional capabilities this acquisition will bring and look forward to further diversifying our geographic footprint.”
Willamette Valley Fruit Co. is headquartered in Salem, Ore., and is a family-owned business that processes an average of 13 million lbs of fruit each summer.