Armory Securities, LLC is pleased to announce that Fowler, California based Sunshine Raisin Corporation (dba “National Raisin”) has been sold to diversified Chilean food and agriculture business Empresas Sutil. The transaction closed on October 2, 2024. Armory served as the exclusive financial advisor to National Raisin for the transaction.
The National Raisin Company, which was founded by the Bedrosian family in 1969, is one of the nation’s leading suppliers of premium quality dried fruits and ingredients. The company is recognized as an industry leader in terms of quality and safety, as evidenced by its blue-chip customer base of leading global suppliers and retailers, including Walmart, Aldi, HEB, General Mills, Kroger, Ferrero, Kellogg and Bimbo Bakeries, among others.
The company’s 300K sq. ft. high specification manufacturing facility has the capabilities to produce an extensive product offering, including private label and branded retail, hi-spec bulk, and value-added ingredients in multiple dried fruit categories, including conventional and organic raisins, prunes, dates, figs, mangos, apricots, cranberries and blueberries.
Empresas Sutil’s subsidiary, Pacific Nut, has been a supplier to National Raisin for more than 10 years and this expanded partnership will allow the company to continue with local growers in the heart of California’s raisin growing region, now complemented by direct Southern Hemisphere relationships that will provide the company with year-round supply and efficiencies.
Empresas Sutil, which is based in Santiago, Chile, is a diversified, family-owned food and agriculture business founded in 1982 by Juan Sutil. Today the companies that are part of Empresas Sutil are Pacific Nut Company, Frutícola Olmué, Top Wine Group, Champiñones Abrantes, Banagro, Agrícola Sutil and Coagra. Empresas Sutil currently harvests more than 3,000 acres of fruit, employs 2,700 people, serves 17,000 farmers and processes fruit from over 1,000 producers.
For information on this transaction or about Armory Securities, please contact one of the following deal team members:
Nicole Nugent
Managing Director
nnugent@armorysecurities.com
310.993.4761
Doug McDonald
Managing Director
dmcdonald@armorysecurities.com
310.721.2671
Ron Papile
Vice President
rpapile@armorysecurities.com
818.967.6480
Matthew Curtis
Vice President
mcurtis@armorysecurities.com
284.303.4609
Armory Securities, a division of Armory Group, LLC, is a leading investment bank dedicated to helping middle market companies and their constituents. Armory Group, through its subsidiaries, provides investment banking services, asset management services and advisory services, including enterprise transformation and interim management, to middle market companies and their stakeholders. Learn more about Armory Group, and its subsidiaries, at www.armorygroupllc.com.
Armory Securities, LLC, member FINRA, Member SIPC