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Article: Australian company snatches up MacFarms
- Article from:
- Honolulu Star - Bulletin
- Article date:
- August 8, 2008
- Author:
CopyrightCopyright Honolulu Star - Bulletin Aug 08, 2008. Provided by ProQuest LLC. (Hide copyright information)
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If MacFarms of Hawaii LLC had a price tag, it might say "half off."
Hawaii's second-largest macadamia nut processor has again been purchased by an Australian company, this time for less than half the $13.1 million Hilo-based ML Macadamia Orchards was offering for it less than a year ago.
Buderim Ginger Ltd. said yesterday it bought MacFarms for $5 million plus $700,000 in a deferred cash payout or issue of shares.
Under the deal, expected to close Monday, the company also signed long-term leases on the nearly 4,000-acre macadamia orchard owned by Kapua Orchard Estates LLC, an affiliate of MacFarms. A tentative agreement was announced July 1.
A call to MacFarms' Captain Cook-based ...