MARION, N.Y. — A deal that would have seen Pacific Coast Products acquire Seneca Foods Corp.’s Modesto, Calif., fruit processing plant and its related business has been called off after the Department of Justice asked for more information to determine any competitive concerns with the transaction. In light of the delay associated with the request, both companies agreed that it was in their best interests to terminate the agreement, and focus efforts on upcoming production season.
Dan Vincent, chief executive officer of Pacific Coast Producers, and Kraig Kayser, c.e.o. of Seneca Foods, jointly said “it is a discouraging outcome given the many very real challenges facing our industry; however our immediate priority must be to focus on the pack as the harvest is just weeks away.”
The transaction was first announced in mid-March.
Formed in 1971, Pacific Coast Producers is a grower-owned agricultural cooperative headquartered in Lodi, Calif. The cooperative processes and packages fruits and tomatoes for the retail, food service and industrial markets under private label brands. The cooperative grows and packages its fruits and tomatoes in Northern California, with plants in Woodland, Lodi and Oroville, Calif., for distribution to all major retail grocery stores and food service markets in the United States.Seneca Foods is a provider of packaged fruit and vegetables, with plants located throughout the United States. Its products are primarily sourced from more than 2,000 American farms. Seneca holds the largest share of the retail private label, food service and export canned vegetable markets, distributing to over 90 countries. Products are also sold under the Libby’s, Aunt Nellie’s, READ, Seneca Farms and Seneca labels, including Seneca snack chips.