The Inventure Group Inc has acquired virtually all the assets of Rader Farms Inc for about $21 million in cash. Lynden WA-based Rader Farms grows, processes, and markets frozen blueberries, raspberries, berry blends, and other fruit products.
This transaction gives Inventure access to a specialty food category with a company that in 2006 had around $27 million in net revenue. Rader Farms likely will benefit from Inventure's frozen food operations know-how, client relationships, and management and board experience.
Brad Rader, general manager of Rader Farms, said, “This is a major step forward for our company. We have grown dramatically over the past five years and look forward to further growth by continuing to provide consumers the highest-quality frozen berries possible and supporting our customers with world-class service.”
