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Preserving A Legacy

Managing and preserving a family legacy is delicate business. Selling a successful family-owned business? Even more so.

The Grimm family legacy is rooted in vegetables. What began as a roadside produce stand opened by brothers Rod and Bob Grimm in the 1960s is now a massive agribusiness operation and the world’s largest producer of carrots: Grimmway Farms.

While carrots are king, Grimmway grows more than 65 different crops. It owns and operates nearly 20 facilities nationwide. And it ships to more than 20 countries. The company has come a long way in the past 50 years.

When the current generation of Grimms began contemplating a sale of Grimmway Farms, preservation of the family legacy was of paramount concern.

They needed a legal team with serious deal-making know-how. Just as important, they needed counsel that could balance the demands of the business with the needs of individual family members. They turned to Loeb & Loeb.

Distinguished in trusts and estates and corporate and M&A law—not to mention having a growing track record in the health and wellness space—Loeb & Loeb offered the perfect blend of skill and personalized attention for this highly personal matter.

Loeb & Loeb’s trusts and estates lawyers had previously worked with members of the Grimm family in resolving trust and probate matters. Building on this relationship, the firm was brought in to support family shareholders as they took the steps necessary to prepare the company for an eventual sale. 

Our corporate and M&A team assisted in engaging an investment bank, accounting firm and company counsel to facilitate the transaction. We guided our clients through a strategic auction process and, with the assistance of our real estate team, a series of complex negotiations, ultimately resulting in the successful acquisition of Grimmway Farms by private equity firm Teays River Investments.

In a year when proposed federal tax changes promised to substantially increase the tax bite on capital gains, Loeb & Loeb’s team was also successful in shepherding the Grimmway Farms deal in a timely manner.

The management team at Grimmway Farms and all operations will remain the same under its new ownership. Teays River is committed to maintaining the company’s long-held commitment to sustainability and upholding its core values.

The Grimm family recognized the value of trusting experienced counsel with their legacy.

And Loeb & Loeb was honored to support the family as they look toward the future.