Phoenix-based Inventure Foods Inc., announced Monday it will spend nearly $4 million on equipment to bolster its freezing capabilities.The snack maker and food processor will buy two individually quick frozen (IQF) freezing tunnels for $3.9 million next year to help improve margins and meet the increasing demand for its frozen fruit products, said CEO Terry McDaniel.
“When this equipment is coupled with the freezing assets we acquired this year at Willamette Valley Fruit Co. and Fresh Frozen Foods, we will have made significant progress toward meeting our frozen fruit processing requirements internally,” McDaniel said.
The Phoenix company bought Georgia-based Fresh Frozen Foods in September for $38 million. The purchase expanded Inventure’s portfolio of frozen fruit products, as well as its footprint in the southeastern U.S. Last spring, Inventure acquired Salem, Ore.-based Willamette Valley Fruit Co. for similar reasons and assets.
Inventure anticipates installation of the new equipment to take place in the second quarter of 2014. The company will install the new tunnels at its berry processing facilities in Lynden, Wash. and Salem, Ore. To read more, click HERE.