Californian group Hronis set to be acquired by its primary lender, following post-bankruptcy sale
Californian table grape producer Hronis has been acquired by its primary lender, Iowa-based Conterra Ag Capital, following its recent Chapter 11 bankruptcy.
The auction-based sale, which was granted court approval and is now expected to close by mid-July, remains dependent on certain conditions being met.
Conterra is understood to have provided working capital support for Hronis’ most recent growing season, and recently extended its client’s working capital facility from US$22mn to US$54mn.
This expanded financing will support harvest operations as the transaction nears completion, the group said in a statement, adding that it was “business as usual” for the time being and indeed if the acquisition is approved.
“Day-to-day operations remain unchanged as does the company’s commitment to serving its customers for the 2026 season – a commitment that has been steadfast for more than 80 years,” said a spokesperson.
“Harvest is already underway across Hronis’ vineyards, and this year’s harvest follows one of the earliest starts to the California table grape season in history, creating additional promotional opportunities for retailers and the possibility of an extended selling season.
“Both Conterra and the Company look forward to delivering a successful 2026 season that is just the beginning of a new era of growth for the business.”
Paladin Management Group is overseeing a restructuring process at Hronis, and continues to advise it on its Chapter 11 proceedings.
