Processor makes bid for bankrupt fruit canneryThis article was originally published in Foodnews
CANNING company, Truitt brothers, is to make a bid for bankrupt packing firm, Snokist, after a food safety scandal caused it to file a Chapter 11 last year (FOODNEWS passim) . Acquiring the fruit canners would enable Truitt brothers to double its pear canning capacity, as well as optimising operations. It bid USD4.5 million in cash for all of Snokist’s assets and up to USD3.0 million in deferred payments, The Yakima Herald reports. Truitt Brothers is an Oregon-based company which produces a variety of canned fruit and ready meals, such as chilli and pumpkin pie mix, for both the foodservice and retail markets. If the deal goes through, Snokist will still exist as a growers’ co-operative, but it will cease to be a corporate entity. Del Monte is also rumoured to be interested in the company, but has yet to submit a bid.