River Point Farms, a leading onion producer based in Hermiston, OR, announced that brothers Bob and Rick Hale have bought back control of the company.
Last month, the Hale brothers led an investment that also included new investor and strategic partner Taylor Farms as well as existing shareholder CIC Partners. The cooperative transaction closed, making the Hale brothers once again controlling partners of River Point Farms. The brothers also own and operate Hale Farms, a 37-year-old, first-generation diversified family farming operation.
"Rick and I are elated about this transaction for River Point Farms, which empowers us to make business decisions to reinvest quickly in new opportunities and react to market conditions and customer requests," Bob Hale, president and chief executive officer, said in a statement.
River Point Farms and its sales team will remain focused on their foodservice program business but also have plans to begin expanding their retail business solutions as well, working with strategic partner Curry & Co. in Brooks, OR.
The Hale brothers say they will invest in facilities and equipment for the operation, which includes plans for offering retail-ready products in discussion with strategic partner Taylor Farms, based in Salinas, CA.
According to Hale, the onion producer has several new strategic partnerships and affiliations that positions the company to expand its growing, production, packing, shipping and product offerings over the next several months.
River Point Farms is the largest red onion grower in the country, with 450 million pounds of overall onion volume each year. The onion producer has in-house growers with operations in Oregon, Washington, Idaho and California, with a national distribution to all 50 states and Canada.
"We want our customers to know that we remain fully committed to providing a very high standard of quality with our onions and with the service and supply that they have come to trust and rely on for their businesses," Hale said in a press release. "As we look to the future, we see growth and opportunity for River Point Farms, our current customers and our potential customers with new and improved capabilities."