Richgrove, CA - Vincent B. Zaninovich & Sons, Inc.("VBZ"), an 80 year-old, family owned and operated, diversified agribusiness based in Richgrove, California, has divested certain of its table grape vineyards and related assets. The divestiture consisted of three separate transactions with the largest asset sale completed to The Wonderful Company LLC ("Wonderful"), one of the largest farmland owners in California. FocalPoint Partners, LLC, now B. Riley Securities ("B. Riley"), served as the exclusive financial advisor to VBZ and assisted in the negotiations with the buyers. Financial terms of the transactions were not disclosed.
Geoff Bland, Chairman of VBZ, commented, "These transactions have allowed the family to diversify their holdings and reinvest in new areas of growth, and as such, are important milestones for VBZ and our family. [B. Riley] efficiently navigated a complex process and provided valuable support to the Company. We are appreciative for all of [B. Riley's] efforts and expert advice."
Robert Woolway, Managing Director of B. Riley, said, "This engagement was complicated as we effectively executed three separate sale processes. We are proud of the outcome we achieved for our client and pleased to announce these additional successful closings for [B. Riley's] dedicated Food and Agriculture practice."
About The Wonderful Company
Founded in 1979 in Los Angeles, California, Wonderful is a privately held company committed to offering high-quality, healthy brands and helping consumers make better choices every day. The company grows, harvests, bottles, packages, and markets a diverse range of healthy products, including fruits, nuts, flowers, water, wines, and juices. For more information on Wonderful, please visit www.wonderful.com.
B. Riley Securities is a leading investment bank that provides a full suite of investment banking, corporate finance, advisory, research, and sales and trading services. Investment banking services include initial, secondary, and follow-on offerings, institutional private placements, merger and acquisition (M&A) advisory, SPACs, corporate restructuring, and recapitalization. The firm is nationally recognized and highly ranked for its proprietary small-cap equity research. B. Riley Securities is a wholly owned subsidiary of B. Riley Financial. For more information, visit brileysecurities.com.
Please contact Robert Woolway, Managing Director, at 310-405-7080, with any questions about this transaction.