Transaction Announcement

Vertically-Integrated Farming Operation, Project Crisp, Acquired by International Farming Corporation

Moss Adams, via its affiliate Moss Adams Capital, served as the exclusive financial advisor to Valley Fruit, Larson Fruit, Legacy Fruit Packers and Sage Fruit (Project Crisp) in the sale of a majority stake to International Farming Corporation (IFC). Founded in 1871, IFC is an investment management firm based in North Carolina that specializes in the agricultural sector. The firm invests with strategic longevity in a diversified portfolio of farmland and related vertically-integrated farming operations.

Project Crisp represents one of the largest vertically-integrated growers, packers and marketers of apples, cherries and pears in North America. Project Crisp’s growing operations, spanning throughout the Yakima Valley and Lower Columbia Basin, total more than 3,700 acres, with primary apple varieties including Gala, Fuji, Honeycrisp and Cosmic Crisp.

Beyond the orchard operations, Project Crisp owns and operates fruit packing and storing operations—Legacy Fruit Packers—and the premier Sage Fruit Marketing Company, a brand well recognized for its quality product and excellent customer service. Throughout 2018, Project Crisp has grown, sourced, packed and sold approximately four million boxes of fruit. 

Project Crisp’s combination with IFC is expected to yield production efficiencies, capacity expansion and product innovation. It’s also expected to provide immediate volume expansion through IFC’s existing product portfolio, including the addition of organic offerings, early-season cherries and new or proprietary apple varieties.

This acquisition represents another successful transaction by the Moss Adams Capital team, serving the Food & Beverage and Agribusiness Industries. Throughout the transaction, the Moss Adams Yakima office played a significant role in assisting the sellers with tax structuring and advice, financial planning and estate planning. Moss Adams is the premier provider of financial advisory services to the Agribusiness Industry, which includes investment banking, accounting, tax planning and strategic planning services.


To learn more about our investment banking services—including mergers and acquisitions, deal advisory, strategic alternative evaluations, and financing—contact your Moss Adams professional or visit our Investment Banking page.

For more information regarding this transaction and related support, please contact:

James Rothenberger, Managing Director | (206)302-6777
Jet Wales, Managing Director | (206) 302-6770
Daniel Seubert, Associate | (206) 302-6775
Brandon Leyert, Analyst | (206) 302-6444