News & Insights
Cascadia Capital Advises Auvil Fruit Company in its Equity Recapitalization by Fiera Comox
October 22, 2019
Auvil Fruit Company (“Auvil”), a premiere Washington-based grower, packer and shipper of apples and cherries, has received an equity investment from Fiera Comox, as manager of its Global Agriculture Open-End Fund. Cascadia Capital acted as the exclusive financial adviser to Auvil in the transaction.
Founded in 1928 and employee-owned, Auvil is a leading vertically integrated tree fruit producer with over 2,200 acres of apple and cherry orchards, as well as a state-of-the-art packing line, significant controlled atmosphere and cold storage assets, and a leading sales desk with the internationally recognized Gee Whiz label. Auvil is known throughout the industry for its premium quality Granny Smith, Fuji and Gala apples.
Fiera Comox, founded in 2016, is an investment firm focused on the agriculture sector with a long-term investment approach. It seeks to invest in agricultural land and rural producing assets primarily in the United States, Australia, New Zealand and Canada, focusing on high-quality farmland with a history of production and resilience through economic and commodity cycles.
The investment from Fiera Comox will allow Auvil to recapitalize its balance sheet while also investing heavily in future growth opportunities.
“The primary objective in our capital raise process was to find true partners.” said Chris McCarthy, CEO of Auvil. “The Cascadia team was diligent in their search to find partners who would understand and fit our culture. The resulting partnership with Fiera Comox honors the legacy and farming excellence of all who built Auvil Fruit Company, while propelling the Company’s vision into the next century.”
“Auvil’s long-standing dedication to quality sets it apart from other industry players,” noted Michael Butler, Chairman and CEO of Cascadia Capital. “Numerous interested parties were aware of Auvil’s brand and reputation, driving significant interest in the transaction.”
Scott Porter, Senior Vice President at Cascadia Capital, added, “We are thrilled to have had the opportunity to work with the Auvil shareholder group to find a long-term focused partner that will help set the Company up for its next century of growth.”
The acquisition represents another successful transaction for Cascadia in the Food, Beverage and Agribusiness sector. Past transactions include Firestone Pacific Foods, More Than Gourmet, Western Polymer Corp, and American Legend Cooperative.
For more information about this transaction, please contact the Cascadia Capital deal team:
Michael Butler
Chairman & CEO
mbutler@cascadiacapital.com
(206) 436-2530
Scott Porter
Senior Vice President
sporter@cascadiacapital.com
(206) 436-2528