Rosemont Farms to enter Florida strawberry deal with acquisition of J.W. Hunt Co.
January 13, 2005
Rosemont Farms, a vegetable grower-shipper located in Boca Raton, FL, acquired the assets of J.W. Hunt in Plant City, FL, in a move that will give Rosemont a much-coveted presence in the Plant City area and will keep active one of the more respected brands in Florida produce " particularly strawberries.
Included in the transaction are all assets of J.W. Hunt, including a 65,000-square-foot refrigerated building located in Plant City. The purchase agreement was signed in early December; terms were not disclosed.
Andrew Schwartz, president of Rosemont Farms, said that the acquisition gives his company a "substantial? position in the Florida strawberry deal as a direct grower-shipper. "The "J.W. Hunt? brand is one of the higher-quality brands in Florida for both strawberries and vegetables, and that is in line with our philosophy of only dealing with the best quality," he said.
With the acquisition, Mr. Schwartz said that Rosemont becomes one of the larger players in both the strawberry and vegetable deals. In addition to strawberries, it will handle a full line of vegetables including peppers, cucumbers, squash and Athena melons from the Plant City location. The move will also help bridge the gap between the South Florida and Georgia produce deals.
Mr. Schwartz said that all of the J.W. Hunt staff will be retained, including David Allie, who will manage the Plant City location, and Shawn Hall, the lead sales manager for strawberries.
J.W. Hunt Co. was founded in the early 1960s by J.W. (Bill) Hunt and incorporated in Florida in 1978. Its refrigerated warehouse and produce-handling facility were built in 1980 in Plant City, the hub of the state?s strawberry business and a major consolidation and shipping point for a number of Florida?s vegetable crops.
J.W. Hunt Co. was sold in early 2003 to a group of five investors, including Mr. Allie and Steve Karpinski, who also owns Karpinski Trucking & Produce Inc. More recently, it was reported that the company was close to ceasing operations and was looking for a buyer.
Mr. Schwartz said that the transaction is a good deal for both sides since Rosemont was looking to take a strong position in the strawberry and vegetable deals and J.W. Hunt was looking for a buyer. "Especially with strawberries, you need a substantial volume which will enable you to supply your clients, and you need a well-respected brand. This [transaction] gives us both."
Going forward, Mr. Schwartz said that Rosemont plans to add both acreage and people. "We?re looking to grow the business, but we?ll keep quality in mind."
Included in the transaction are all assets of J.W. Hunt, including a 65,000-square-foot refrigerated building located in Plant City. The purchase agreement was signed in early December; terms were not disclosed.
Andrew Schwartz, president of Rosemont Farms, said that the acquisition gives his company a "substantial? position in the Florida strawberry deal as a direct grower-shipper. "The "J.W. Hunt? brand is one of the higher-quality brands in Florida for both strawberries and vegetables, and that is in line with our philosophy of only dealing with the best quality," he said.
With the acquisition, Mr. Schwartz said that Rosemont becomes one of the larger players in both the strawberry and vegetable deals. In addition to strawberries, it will handle a full line of vegetables including peppers, cucumbers, squash and Athena melons from the Plant City location. The move will also help bridge the gap between the South Florida and Georgia produce deals.
Mr. Schwartz said that all of the J.W. Hunt staff will be retained, including David Allie, who will manage the Plant City location, and Shawn Hall, the lead sales manager for strawberries.
J.W. Hunt Co. was founded in the early 1960s by J.W. (Bill) Hunt and incorporated in Florida in 1978. Its refrigerated warehouse and produce-handling facility were built in 1980 in Plant City, the hub of the state?s strawberry business and a major consolidation and shipping point for a number of Florida?s vegetable crops.
J.W. Hunt Co. was sold in early 2003 to a group of five investors, including Mr. Allie and Steve Karpinski, who also owns Karpinski Trucking & Produce Inc. More recently, it was reported that the company was close to ceasing operations and was looking for a buyer.
Mr. Schwartz said that the transaction is a good deal for both sides since Rosemont was looking to take a strong position in the strawberry and vegetable deals and J.W. Hunt was looking for a buyer. "Especially with strawberries, you need a substantial volume which will enable you to supply your clients, and you need a well-respected brand. This [transaction] gives us both."
Going forward, Mr. Schwartz said that Rosemont plans to add both acreage and people. "We?re looking to grow the business, but we?ll keep quality in mind."
