logo
Intelligence
Tracking
Tools
logo
Intelligence
Tracking
Tools

NOVEM acquires BC Tree Fruits Cooperative's largest controlled atmosphere and cold chain storage facility

Sep 06, 2024•over 1 year ago

Acquiring Company

NOVEM

Acquired Company

BC Tree Fruits Cooperative

KelownaKelownaBiotechnologyAgriculture and Farming

Description

NOVEM has agreed to purchase BC Tree Fruits’ largest controlled atmosphere and cold chain storage facility in Kelowna, B.C. The acquisition aims to extend a lifeline to B.C.’s tree fruit industry, allowing the tree-fruit industry to avoid the loss of as many as 25 million pounds of apples. Additionally, NOVEM plans to play a role in helping farmers create a modernized version of the Canadian fruit tree industry in British Columbia, with expansion plans to support the biopharmaceuticals and pharmaceutical industries.

Company Information

Company

NOVEM

Location

Kelowna, British Columbia, Canada

About

NOVEM specializes in combining processing and packaging, with cold chain warehouse and distribution services for the Agrifood, Pharmaceutical and Biopharmaceutical industries. The company has facilities in Kelowna and Edmonton and plans to continue storage operations at the Sexsmith Road site as well as expand the facility to accommodate future growth plans across a broader range of the overarching Agrifood industry. These expansion plans will increase employment opportunities in the region, including new staff working at the facilities and local farms.

Related People

Sign in to view contact details

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed