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Ocean Spray Cranberries, Inc., Acquires Cranberry Operations in Chile



  Ocean Spray Cranberries, Inc., Acquires Cranberry Operations in Chile

 Cooperative acquires cranberry processing business from Agrícola Cran Chile
              Limitada, expanding capacity and global footprint

Business Wire

LAKEVILLE-MIDDLEBORO, Mass. -- January 10, 2013

Ocean Spray Cranberries, Inc., a grower-owned agricultural cooperative, today
announced it has acquired the cranberry processing business of Agrícola Cran
Chile Limitada (Cran Chile) based in Lanco, Región de los Ríos, Chile. The
acquisition will expand Ocean Spray’s multinational footprint and establish a
sizable Cooperative presence in an important cranberry growing region. Cran
Chile will retain its world-class cranberry growing operation and its
raspberry and blueberry juice concentrate business.

“Ocean Spray is proud to welcome Cran Chile employees into our family,” said
Randy Papadellis, President and Chief Executive Officer of Ocean Spray. “Cran
Chile’s reputation for quality and excellence in cranberry processing is a
good strategic fit and will better help the Cooperative accelerate the growing
global demand for dried cranberries, the fastest-growing product in Ocean
Spray’s portfolio.”

While this marks Ocean Spray’s first international acquisition, the reach of
the Ocean Spray brand goes far beyond the United States. The Cooperative’s
cranberries are currently featured in more than a thousand products in over 50
countries worldwide.

“This acquisition will enable us to better compete in the global dried fruit
market and provide long-term benefits in returns for our grower owners,” added
Papadellis. “It also represents a new frontier for our cooperative that will
diversify our fruit supply with a counter-seasonal supply of cranberries from
Chile, enable us to distribute dried cranberries from a strategic South
American location to new and existing international markets, and increase our
capacity to produce dried cranberries by 12 million pounds annually.”

As part of the agreement, Ocean Spray has purchased all land and assets
related to receiving, storage, processing, and distribution of dried
cranberries. All of the approximately 100 Cran Chile plant employees will
become Ocean Spray employees. Cran Chile is also one of the world’s largest
cranberry growing operations and has accepted an invitation to become a member
of the Ocean Spray Cooperative. Cran Chile will continue to process
raspberries and blueberries at the Lanco facility subject to a long term
processing agreement with Ocean Spray.

“The employees of the Cran Chile facility and Ocean Spray share a culture of
excellence in quality and service as well as a vision for growing the demand
for cranberries in new markets,” said Gordon Swanson, Managing Partner of Cran
Chile. “The opportunity represents an exceptional strategic fit for two
industry leaders. In addition to becoming a major supplier of cranberries to
Ocean Spray, we look forward to becoming a major member of the cooperative.”

About Ocean Spray

Ocean Spray is an agricultural cooperative owned by more than 700 cranberry
growers in Massachusetts, Wisconsin, New Jersey, Oregon, Washington, British
Columbia, and other parts of Canada as well as 35 Florida grapefruit growers.
Ocean Spray was formed over 80 years ago by three cranberry growers from
Massachusetts and New Jersey. Florida grapefruit growers joined the
Cooperative in 1976. Ocean Spray is North America’s leading producer of
bottled juices and juice drinks, and has been the best-selling brand name in
the bottled juice category since 1981. Ocean Spray posted fiscal 2012 gross
sales of $2.2 billion and net proceeds of $338 million. Headquartered in
Lakeville-Middleboro, Massachusetts, Ocean Spray employs some 2,000 people
worldwide.

About Cran Chile

Cran Chile is one of the largest growers of cranberries in the world and is
the leading exporter of raspberry and blueberry juice concentrates from Latin
America. Founded 20 years ago by the legendary Warren Simmons, the company
pioneered the use of new technologies and economies of scale to improve
cranberry crop yields and lower costs.

Contact:

Ocean Spray
Kathie Cornelius, 508-946-7965
kcornelius@oceanspray.com
or
Weber Shandwick for Ocean Spray
Sara Steindorf, 617-520-7259
ssteindorf@webershandwick.com
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