Photo: Colin Dacre file photo
The former BC Tree Fruits office downtown Kelowna. A Penticton-based construction company is buying the final assets, including the branding, of the defunct co-op.
A Penticton-based construction and engineering firm will become the owner of one of B.C.’s most iconic brands if the courts approve its bid to buy the final assets of BC Tree Fruits.
Wildstone Construction Group intends to spend $22.75 million to acquire the co-op’s former packinghouse in Oliver, properties in Summerland and Keremeos, remaining equipment, inventory and intellectual property such as branding and trademarks.
The company has put down a $2.15 million deposit for the purchase, which goes before a judge on Friday for approval, according to bankruptcy court filings. The deal is planned to close on May 30.
“The purchaser requested an early closing as it intends to commence packing operations with the acquired assets during the 2025 fruit-packing season, which may start as soon as June 2025 (for cherries),” said the documents.
“The transaction would re-open packing and storage capacity for growers in the Okanagan area.”
The Wildstone bid was the only offer made for the entire block of the remaining assets, something bankruptcy trustee Alvarez and Marshall worked hard to find in an effort to avoid having the Oliver packinghouse stranded without the necessary cold storage facilities.
Alvarez and Marshall is supporting the Wildstone bid, and so far, the courts have followed the advice of the bankruptcy trustee when approving previous sales of BC Tree Fruits assets.
Novem Pharmaceuticals purchased the old BC Tree Fruits cold storage facility on Kelowna’s Sexsmith Road for $19.5 million.
The District of Lake Country purchased a property in that community with plans to convert it into a community centre, and the Mark Anthony Group bought the co-op’s old warehouse on Kelowna’s Vaughan Avenue.
Wildstone CEO Mark Melissen said the company is withholding comment until the sale is approved.
The bankruptcy records show $20.7 million worth of claims against BCTF. The organization has about $17 million in cash on hand, with Alvarez and Marshall suggesting they will be able to repay all outstanding claims against the defunct co-op after the last of the assets are sold.
BC Tree Fruits collapsed in July 2024 after nearly 90 years in business. At the time there was more than $53 million owed to secured creditors.
