Ocean Spray Gets First International Acquisition
The cranberry cooperative has acquired a Chilean grower and its 100 employees.
In a move to increase its global market share, Ocean Spray Cranberries Inc. (Lakeville-Middleboro, MA) has acquired Agrícola Cran Chile Limitada (Cran Chile), one of South America’s leading cranberry growers.
The Cran Chile acquisition covers an estimated 12 million lb. of yearly cranberry production and gives Ocean Spray an immediate presence in an important cranberry growing region and a counter-seasonal supply of cranberries. Ocean Spray CEO Randy Papadellis says the acquisition will largely support demand for dried cranberries, the company’s fastest-growing product.
Ocean Spray products are sold in over 50 countries, but this is the company’s first grower acquisition outside of North America.
Cran Chile will retain its cranberry operation (as a member of the Ocean Spray cooperative) and will be permitted to continue its separate production of raspberry and blueberry juice concentrates.
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