Grimmway Farms sold to Indiana firm
Grimmway Farms has reached an agreement to sell to Teays River Investments LLC, an Indiana-based assets-management firm. Terms of the sale agreement were not disclosed.
The Bakersfield Californian, reported that no major changes are expected as part of the sale: the management team is expected to remain in place and the company is expected to remain headquartered in Bakersfield, CA.
"Their goal is they're going to be supporting our existing management team as we continue, as we always have, to meet consumer demand for fresh produce," a spokesperson for the company told The Bakersfield Californian. "They are a respected steward that embraces what our core values are, and they believe very strongly in the continuity of our management team as well as our thousands of team members across the country."
Grimmway Farms traces its roots to a produce stand opened by the Grimm brothers in the early 1960s. Grimmway is a global produce leader and the world’s largest producer of carrots. Grimmway supplies more than 65 organic, U.S.-grown crops and brands include Cal-Organic Farms and Bunny-Luv.