Following Prima Wawona's bankruptcy, almost all of its 13,000 acres of farmland have been sold, with only about 1,300 acres remaining. The company, a result of the merger between Gerawan Farming and Wawona Packing, faced liquidation after accruing over $600 million in debt.
The land's availability attracted numerous farmers, eager to acquire prime tree fruit agricultural land. Sun Pacific and Moonlight Companies emerged as the primary purchasers, acquiring around 5,000 acres for $91 million. This acquisition positions them as a significant force in the tree fruit sector, without the need for external investors.
Russ Tavlan, Moonlight's owner, expressed pride in integrating the legacies of the two founding families into their operations. Despite challenges in the tree fruit market, Tavlan and his partner are committed to focusing the majority of their new acreage on tree fruit cultivation, alongside their existing produce offerings.
Source: aol.com