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Economic and dam related articles

Broetje Orchards Sold to
Canadian Teachers Pension Fund

by Donald W. Meyers
Yakima Herald, February 9, 2019

New owner plans to continue many employee-support programs created by Broetje.

Ralph and Cheryl Broetje bought their first orchard in Benton City, Washington, in 1968 -- eventually expanding to manage more than 6,000 acres of apples and cherries in Benton City, Prescott and Wallula. 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.

Related Pages:
Workers File Class-action Suit Against Broetje Orchards by Tony Buhr, Walla Walla Union-Bulletin, 5/18/18
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

Donald W. Meyers
Broetje Orchards Sold to Canadian Teachers Pension Fund
Yakima Herald, February 9, 2019

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