A Summerland apple growing and marking company, responsible for developing the nonbrowning Arctic apple, has been purchased by an American biotechnology company.
Okanagan Specialty Fruits Inc, was purchased by TS Biotechnology Holdings, LLC. The transaction closed on Jan. 31.
Third Security is a venture capital firm led by Randal J. Kirk.
“R.J. Kirk is a powerful champion of our Arctic apples and we are thrilled to continue our partnership with him at Third Security,” said Neal Carter, founder of Okanagan Specialty Fruits.
“Collaboration with Third Security will facilitate our continued success as we further expand into retail and food service, enhancing our ability to deliver more apples in more places.”
Kirk said the purchase of Okanagan Specialty Fruits Inc. will benefit TS Biotechnology Holdings.
“The success of OSF’s Arctic apple is ground-breaking for the produce industry and for bioengineering science,” said Kirk, founder and CEO of Third Security. “We are excited to add OSF’s innovation and passion to our portfolio.”
Okanagan Specialty Fruits is focussing on expanding the availability of Arctic apples into new marketplaces and has introduced fresh apple slices into food service last fall.
The company says the apple slices require less preparation, produce less waste and deliver better taste, while also providing an extended shelf life.
Founded in 1996, Okanagan Specialty Fruits Inc. has been pursuing the use of biotechnology-directed fruit breeding.
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