The sale of the remaining assets of BC Tree Fruits Cooperative (BCTF) is a pivotal moment according to the CEO of Wildstone Construction香蕉视频直播攁 Penticton firm that was part of the purchase.
香蕉视频直播淭his next chapter for BCTF is powered by a strong partnership with our family, local investors and our strategic partner, Algoma Orchards Corp. and the Kemp family, who will operate the packing plant and bring BC Tree Fruits products back to Canadian and international consumers,香蕉视频直播� Mark Melissen stated in a LinkedIn post.
Algoma Orchards is an Ontario-based company that partnered with Wildstone on the $23 million deal which includes a packing house in Oliver, fruit receiving facilities in Summerland and Keremeos, all equipment, and remaining intellectual property including the brand and logo.
The deal was approved by the Supreme Court of BC on May 16.
香蕉视频直播淭his isn香蕉视频直播檛 just an investment,香蕉视频直播� Melissen added. 香蕉视频直播淚t香蕉视频直播檚 a commitment to local agriculture, communities, and the future of B.C. fruit. We香蕉视频直播檙e excited about what香蕉视频直播檚 ahead and deeply proud to be supporting growth, jobs, and innovation in a sector that means so much to this province.香蕉视频直播�
Founded in 1936, BCTF was a grower-owned organization based in Kelowna. At its peak, it supported over 230 member farms, providing services such as fruit processing, storage, packaging, and sales. The cooperative was widely recognized for its bright green leaf logo and the slogan "Look for the Leaf."
In 2022, a decision to y sparked significant unrest among growers. That unrest eventually led to protests in May 2024, including 30 growers and farmers who gathered at BCTF property on Sexsmith Road in Kelowna. They held signs reading 香蕉视频直播淒ictatorship,香蕉视频直播� 香蕉视频直播淐orruption,香蕉视频直播� and 香蕉视频直播淲e Have No Voice,香蕉视频直播� demanding accountability and transparency from the cooperative's leadership.
In July of that year, due to declining fruit volumes, increased competition, aging infrastructure, and adverse weather conditions. The cooperative filed for creditor protection香蕉视频直播攐wing $50 million to the Canadian Imperial Bank of Commerce.
The closure left many Okanagan growers scrambling to find alternative avenues for packing and marketing their produce. In response, the City of Kelowna partnered with Sandher Fruit Packers to support local growers in getting their produce to market. Farming Karma, a Kelowna orchard and juice company, also secured storage space for growers.
The court-ordered liquidation of BCTF's assets led to the sale of several properties, including the Vaughan Avenue site in Kelowna, which was purchased by the Mark Anthony Group for $17.5 million, and the Bottom Wood Lake Road property in Lake Country, acquired by the District of Lake Country for $9.1 million.
The Sexsmith Rd facility was initially listed for $39 million. After a significant price reduction, it was sold for $19.25 million to Novem Pharmaceuticals. The company plans to invest $2 to $3 million into modernizing the building and continue apple storage operations at the site.
