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November 8, 2012
09:01 EDTSENEASeneca Foods signs memorandum of understanding to acquire Independent Foods
Seneca Foods, Underwood Fruit and Warehouse Company, Independent Foods Processors Corporation, and Mt. Adams Orchards Corporation are pleased to announce that they have signed a memorandum of understanding contemplating an acquisition by Seneca Foods of the ownership interest of Independent Foods. The completion of the transaction is subject to the negotiation and execution of a definitive agreement between the parties, customary closing conditions, including regulatory, shareholder and lender approvals and satisfactory completion of due diligence. Terms of the deal were not disclosed.
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