Broetje Orchards Sold to
by Donald W. Meyers
New owner plans to continue many employee-support programs created by Broetje.
A Prescott-based apple grower with offices in Yakima has been sold to a Canadian teachers pension fund.
The Ontario Teacher's Pension Plan purchased Broetje Orchards in a deal that closed in December for an undisclosed amount, according to the Tri-City Herald.
An excise tax affidavit filed with the state Department of Revenue showed the real-estate portion of the sale was valued at $288 million, the Tri-City Herald reported, and generated $4.4 million in excise taxes.
The pension fund, worth $146 billion, invests in a variety of assets, including real estate, farms and food production, the paper reported.
Jim Hazen, a former Broetje Orchards executive, was named president and CEO of the new company, the Tri-City Herald reported.
Broetje Orchards, which markets fruit under the First Fruits name, was started in 1968 by Ralph and Cheryl Broetje, and established its first packing line in 1987, according to the company's website. The company also markets its proprietary apple variety, the Opal.
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U.S. Apple Orchard Fined US$2.25M for Hiring 'Unauthorized' Workers by Staff, Fresh Fruit Portal, 6/10/15
Broetje Orchards Puts People Before Profits by Stan Friedman, The Christian Century, 11/18/8
Irrigation from 4 Lower Snake Reservoirs by Reed Burkholder, Fact Sheet 1993
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