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Northland Cranberries Sells Branded Juice Business to Apple & Eve

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By: Sean Moloughney

Editor, Nutraceuticals World

Northland Cranberries, Inc., Wisconsin Rapids, WI, recently sold its branded juice business to Apple & Eve, Port Washington, NY. The sale included certain raw materials, work-in-process and finished goods inventories, the Northland, Tree­sweet and Awake brands, as well as an assignment of the Seneca brand license agreement between Northland and Seneca Foods Corporation. Northland and Apple & Eve also entered into a cranberry concentrate supply agreement under which Apple & Eve will purchase approximately $6.7 million of cranberry concentrate during the next 12 months. The supply agreement also provides Apply & Eve the option, commencing in October 2005 and continuing for a period of nine years, to purchase cranberry concentrate from Northland for use in the brands acquired by Apple & Eve in this transaction.

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