Ocean Spray has agreed to buy the processing assets of Northland Cranberries Inc. for $28 million.
Ocean Spray will buy Northland’s receiving, freezing and concentrate-processing plant in Wisconsin Rapids and its raw cranberry inventory. Northland will continue to own and market the Northland, Seneca and TreeSweet brands of cranberry and other fruit juices.
The deal includes the dismissal of antitrust lawsuits by Northland and Clermont, Inc. against Ocean Spray, the companies said.
The deal includes a 180-day option for Lakeville, MA-based Ocean Spray to purchase up to 14 individual Northland cranberry properties for additional cash.
Ocean Spray, a cooperative of about 800 cranberry growers and 100 grapefruit growers.
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