SEDRO-WOOLLEY, Wash. — The majority interest in organic foods marketer Cascadian Farms has been sold to an investment group controlled by Roy Disney, the company said Tuesday.
Gene Kahn, Cascadian Farms' founder and chief executive, said the Disney group will provide the financial backing to expand the company's research and development of organic farming and food production.
Terms of the deal were not disclosed. Cascadian Farms has 42 employees and annual sales of about $20 million, Kahn said.
Welch Foods Inc., the manufacturing and marketing arm of the National Grape Growers Cooperative, bought a majority position in Cascadian in 1990. Welch has sold most of that position to Trefoil Natural Foods of Burbank, Kahn said. Kahn is still a minority owner, and Welch is retaining a share of the company.
Trefoil's ownership includes Shamrock Holdings Inc., which manages investments for Roy Disney, the vice chairman of Walt Disney Co. and nephew of the studio's founder.
Kahn founded Cascadian Farms in 1972.