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March 07, 2005 at 07:00 PM
LAKE FOREST, Ill. (HedgeWorld.com)–A distressed-debt private equity fund manager, Black Diamond Capital Management LLC, announced that it has acquired substantially all of the assets of a Californian agricultural company, Sun World International Inc., for US$127.75 million.
This is the consummation of a deal sealed by an auction Jan. 13, 2005, and confirmed by the bankruptcy court the following day.
“We are excited about Sun World’s long-term value potential as a leading agricultural producer and are committed to enhancing its growth and profitability,” said Christopher Kipley, a Black Diamond partner, as quoted in a statement. “We intend to build upon Sun World’s core strengths and its excellent organization so that the company will be able to continue to serve the needs of its customers.”
