C. Raker & Sons Sells to Indiana Grower
On Sept. 1, Roberta’s Unique Gardens, Waldron, Indiana, and C. Raker & Sons, Inc., Litchfield, Michigan, announced that they have entered into a definitive agreement for Roberta’s to acquire 100 percent of Raker’s business.
The transaction is expected to close in the fourth quarter of 2017. The company is expected to retain the Raker name in some form. Roberta’s grows and sells leading edge finished perennials and annuals that are suitable for garden and home through on-line and televised shopping channels.
Raker is a leading national producer and wholesaler of young plants. Roberta’s has been a customer of Raker’s since 2011.
Eric Wallien, CEO of Roberta’s, said “We’ve always had a great working relationship with the Raker team, and this opportunity was one that we felt was in the best interest of both parties.”
The agreement enables Raker to enter the 2018 growing season with a healthy, restructured balance sheet, and renewed overall energy from its young and talented management team.
Wallien adds, “For our business at Roberta’s, we’re partnering with one of our main suppliers and gaining a great foothold in the young plant sector. We couldn’t be more excited.”
Susie Raker-Zimmerman, general manager at Rakers added, “Eric and the Roberta’s team have been a growing part of our business over the years and the timing was right. The cultural fit is great, and our team is thrilled about this new partnership.”
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