Dec 10, 2012

Acquisition is a Strong Strategic Fit; Supports Company’s Growth Strategy December 07, 2012 08:38 PM Eastern Standard Time SALINAS, Calif.--( BUSINESS WIRE )--Rocket Farms Herbs, Inc., a subsidiary of Monterey Peninsula Horticulture, Inc., has acquired the assets of HerbThyme Farms, the largest cut herb producer in the United States. The acquisition supports Rocket Farms Herbs’ growth strategy to innovate new products, enter new categories, and expand into new channels of distribution. Details of the transaction were not disclosed. “HerbThyme is a great brand supported by 500 talented employees that utilizes cutting edge growing and packaging technologies to produce the finest and freshest cut herbs in the country, which are complementary to our existing potted herb products,” said Monterey Peninsula Horticulture Chief Executive Officer Charles Kosmont. “With the financial resources and operating expertise of a strong parent company we believe HerbThyme can flourish and have a strong future.” HerbThyme Farms grows and ships more than 5 million pounds of fresh herbs annually. HerbThyme Farms has approximately 200 acres of conventional farmland and 150 acres dedicated to the growing of USDA certified organic herbs. “Having successfully completed similar acquisitions in the past, we are certain that HerbThyme’s transition to new ownership will be a smooth one,” Kosmont added. “Customers should expect the continued on-time delivery of all products as well as access to a wider selection of herbs, which will now include organic and non-organic cut herbs in addition to our organic potted herbs, which will meet our stringent quality and food safety standards.” HerbThyme’s Chief Executive Officer, Howard Roeder, along with his entire senior management team, will remain in place and continue to oversee the day-to-day operations of the business. The HerbThyme, Herbal Garden and New England brand names will remain unchanged. Rocket Farms Herbs has also extended job offers to substantially all of HerbThyme’s approximately 500 employees. “We are thrilled to be joining the Monterey Peninsula Horticulture family of growers,” said Howard Roeder. “As one of the largest and most respected greenhouse growers in the United States, Rocket Farms Herbs’ success is a testament to the company’s strategic vision, disciplined management and cutting edge technology, systems and processes. We are pleased to have found such a strong partner who can provide our company with deeply enhanced opportunities.” Rocket Farms Herbs retained Pachulski Stang Ziehl & Jones as legal counsel. HerbThyme Farms retained Jones Day as legal counsel. About HerbThyme Farms, Inc. HerbThyme Farms is the largest grower and marketer of organic and conventional fresh herbs in the U.S. The company grows its products on over 350 acres in California, and ships more than five million pounds of fresh herbs each year from its farms and other certified sources. About Rocket Farms, Inc. With more than 8 million square feet of greenhouse growing space, Rocket Farms is the third largest greenhouse grower in the U.S. The parent company, Monterey Peninsula Horticulture, and its subsidiaries Rocket Farms and Growers Transplanting Inc. have over 31 years of history in the Salinas Valley and California. Contacts For Rocket Farms Herbs, Inc. Jennifer Mercer