Radford, VA and Summerland, BRITISH COLUMBIA (February 3, 2020) – Today Okanagan Specialty Fruits Inc. (OSF) announces the sale of OSF to Third Security, LLC. OSF is the pioneering agricultural company behind the development and commercialization of the nonbrowning Arctic® apple. Third Security is a venture capital firm led by Randal J. Kirk. The transaction closed on January 31, 2020.
OSF is a vertically integrated apple growing and marketing company that is grower-founded and grower-led. The company’s nonbrowning Arctic apple delivers fresh sliced apples with orchard-fresh flavor. OSF offers foodservice operators, retailers and consumers a fresh sliced apple that requires less prep, less waste and better taste. The technology behind Arctic apples provides a sustainable solution that affords a better eating experience, benefiting everyone in the produce supply chain. As an alternative to costly chemical solutions that rob flavor, Arctic apples solve both cost per serving and quality concerns associated with pre-cut apples while also providing an extended shelf-life that minimizes waste.
Intrexon issued a press release on January 2, 2020 with the announcement that it intended to sell certain non-healthcare assets, including OSF, after stating early last year that it would intensify its focus on the healthcare industry.
“R.J. Kirk is a powerful champion of our Arctic apples and we are thrilled to continue our partnership with him at Third Security,” said Neal Carter, Founder of Okanagan Specialty Fruits. “Collaboration with Third Security will facilitate our continued success as we further expand into retail and food service, enhancing our ability to deliver more apples in more places.”
“The success of OSF’s Arctic apple is ground-breaking for the produce industry and for bioengineering science,” remarked Kirk, CEO of Third Security. “We are excited to add OSF’s innovation and passion to our portfolio.”
OSF was sold along with other smaller non-healthcare businesses for $65.2M. With the ownership change to Third Security, OSF’s activities remain focused on expanding the availability of Arctic apple into new marketplaces. Okanagan Specialty Fruits announced the introduction of its fresh apple slices into food service last fall.
About Okanagan Specialty Fruits & Arctic Apples
Okanagan Specialty Fruits (OSF) is a vertically integrated company specializing in the development, growing, processing, and marketing of novel tree fruit varieties developed through bioengineering. Based in Summerland, British Columbia, Canada, OSF was founded in 1996 and acquired by an affiliate of Third Security, LLC in 2020. OSF’s flagship product is its Arctic apple varieties. Arctic apples provide a sustainable solution to less food waste and improved apple consumption. For consumer information, visit www.arcticapples.com; for company information and partnership opportunities, visit www.okspecialtyfruits.com.