Международная инвестиционная компания IFC приобрела банкротство крупнейшего в Вашингтоне производителя яблок и вишни Gebbers Farms

International Farming Corp. (IFC), a Raleigh, North Carolina-based investment firm, is set to acquire bankrupt Washington apple and cherry grower Gebbers Farms through its affiliate Heritage Orchards Alliance. Heritage Orchards was the only bidder in the court-supervised sale process, offering US$231.5 million. Lawyers for Gebbers and IFC announced at a bankruptcy court hearing that the company was the winning bidder. Gebbers Farms, based in Brewster, is one of Washington's larger apple growers and describes itself as the world's largest cherry grower. As of this summer, the company managed approximately 2,752 hectares of apple orchards and more than 607 hectares of cherry orchards. It also operates 10 packing and storage facilities and employed 3,742 people as of June 4. The company owed more than US$225 million to its major lenders and was in default on the debt. According to court documents, lenders indicated that additional funding would only be provided if steps were taken to sell the company. After an earlier sale effort failed, Brewster Heights Orchard & Packing, one of the company's affiliates, became the lead debtor when Chapter 11 proceedings were filed on June 4. Heritage Orchards Alliance acted as the "stalking horse" bidder, establishing the opening bid for the court-supervised auction. No competing bids were submitted. The acquisition would add Gebbers' orchards, packing facilities, and other operations to IFC's existing fruit interests. IFC entered Washington's apple sector in 2018 and has since acquired growers, orchards, packing houses, and sales organizations. The Washington State Investment Board, which manages retirement funds for public employees, has agreed to invest more than US$537 million with IFC. The transaction comes as Washington apple growers face higher labor, fuel, and fertilizer costs alongside relatively flat apple prices. Washington Tree Fruit Association president Jon DeVaney said family-owned growers are concerned about competing with organizations that have access to larger financial resources. Washington Apple Commission president Michael Schadler said outside investment has supported orchard systems, packing operations, and new varieties, while also contributing to capacity that has put pressure on grower returns.