Ocean Spray signs agreement to buy Quebec company Atoka Cranberries
Ocean Spray Cranberries Inc. has signed a deal to buy Quebec company Atoka Cranberries Inc. from the Bieler Group.
Financial terms of the agreement were not immediately available.
In addition to acquiring the Atoka brand and processing facility, Ocean Spray says it intends to purchase the Bieler Group's freezer and receiving facilities in the coming year.
Atoka, based in Manseau, Que., was founded in 1984 as a cranberry farming operation.
The Bieler Group is expected to retain its cranberry growing operations and become a farmer-owner of the Ocean Spray Co-operative.
Ocean Spray is a co-operative owned by more than 700 cranberry growers in the United States, Canada and Chile.