Paramount Citrus (PCA) has announced the acquisition of Healds Valley Farms (HVF), a Texas-based citrus company that represents nearly 50 per cent of that state's citrus market.
The acquisition will help PCA – the largest grower of fresh citrus in North America – continue to 'deliver unparalleled value and variety to customers throughout the US' the group said.
'This acquisition was appealing to us for several reasons,' said David Krause, president of Paramount Citrus. 'Healds Valley is a good operation run by good people; adding the resources of Healds Valley to our existing Paramount operations strengthens our company greatly and will make us a better partner to existing and future growers and customers across the nation.'
PCA, already the largest vertically-integrated grower, shipper and packer of fresh citrus including Clementine and Afourer mandarins, Navel oranges, Valencia oranges, lemons and limes in North America will now add HVF's red grapefruit – the company's primary product – to its portfolio.
The operation will continue to be called Healds Valley and will retain its workforce, including its management. The only immediate personnel change at HVF will be the addition of current vice-president of supply chain for PCA, Rick Burnes, who will join HVF as general manager replacing Yishai Yeshurun, who will be stepping down.
PCA will now ship more than 15m cartons of fresh citrus annually to markets across North America, Europe and the Pacific Rim.
'We are happy to welcome Healds Valley Farms to the Paramount family,' Krause added. 'We are excited about the future of Paramount Citrus' operations and Healds Valley will play an essential role in shaping it.'
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