Black Diamond buys Sun World for $127 million
Black Diamond buys Sun World for $127 million
When Sun World International Inc., in Bakersfield, CA, went on the auction block Thursday, Jan. 13, the bidding opened at $95 million, with Black Diamond Capital Management LLC, a Lake Forest, IL-based investment group and a major Sun World bond holder, as the stalking horse bidder. But other investors were also very eager to add Sun World to their portfolio " so eager that at the end of the day, the winning bid " from Black Diamond " came in at $127,750,000. Sun World President and CEO Tim Shaheen was elated. In a telephone interview with The Produce News immediately following the bankruptcy