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Seneca Foods Corporation Acquires 50% of Truitt Bros., Inc.

SenecaSmaller  Seneca Foods Corporation Acquires 50% of Truitt Bros., Inc. SenecaSmallerSeneca Foods Corporation (the “Company”) (NASDAQ: SENEA, SENEB)
Peter W. Truitt have entered into a Share Purchase Agreement
Peter’s 50% ownership interest in Truitt Bros., Inc.,
the transaction is April, 1, 2014. The management of Truitt Bros., Inc
remaining terms of the Share Purchase Agreement are currently not being disclosed.
In addition to the aforementioned Share

Agreement with David Truitt and other shareholders
acquire the remaining 50% ownership of Truitt Bros., Inc.

“We are very excited about our investment in Truitt Bros.
stable meals in trays and pouches,” stated
the Seneca team, we look forward to working with

David Truitt, Truitt Bros. Inc. President and CEO stated that,
into Truitt Bros. We have known Seneca for years, and share similar backgrounds and
processing. We have high regards for their organization, and we look forward to the future with Seneca
Foods being our partner.”

About Seneca Foods Corporation
Seneca Foods is North America’s leading provider of packaged fruits and vegetables, with facilities
located throughout the United States. Its high quality products are primarily sourced from over 3,000
American farms. Seneca holds the largest share of the retail private
canned vegetable markets, distributing to over 90 countries.
regarded brands of Libby’s®, Aunt Nellie’s®, READ®, Seneca Farms® and Seneca labels, including Seneca
snack chips. In addition, Seneca provides vegetable products under an alliance with General Mills
Operations, LLC, a subsidiary of General Mills, Inc., under the Green Giant label.

Seneca Foods Corporation Acquires 50% of Truitt Bros., Inc.
Seneca Foods Corporation (the “Company”) (NASDAQ: SENEA, SENEB)
Peter W. Truitt have entered into a Share Purchase Agreement whereas the Company has
Peter’s 50% ownership interest in Truitt Bros., Inc., and directly related holdings. The effective date of
The management of Truitt Bros., Inc. will remain unchanged.
greement are currently not being disclosed.
aforementioned Share Purchase Agreement, the Company also entered
other shareholders. This Agreement grants the Company the right
Truitt Bros., Inc. at a future point in time.
We are very excited about our investment in Truitt Bros. Truitt Bros. is a leader in developing shelf
stated Kraig Kayser, Seneca Foods’ President and CEO. “On behalf of
e Seneca team, we look forward to working with David and the entire Truitt Bros. organization
Truitt Bros. Inc. President and CEO stated that, “We are pleased with Seneca’s investment
known Seneca for years, and share similar backgrounds and interests in food
We have high regards for their organization, and we look forward to the future with Seneca
North America’s leading provider of packaged fruits and vegetables, with facilities
located throughout the United States. Its high quality products are primarily sourced from over 3,000
Seneca holds the largest share of the retail private label, food service, and export
canned vegetable markets, distributing to over 90 countries. Products are also sold under the highly
regarded brands of Libby’s®, Aunt Nellie’s®, READ®, Seneca Farms® and Seneca labels, including Seneca
ddition, Seneca provides vegetable products under an alliance with General Mills
Operations, LLC, a subsidiary of General Mills, Inc., under the Green Giant label. Seneca’s common

stock is traded on the Nasdaq Global Stock Market under the symbols “SENEA” and “SENEB”. SENEA is
included the S&P SmallCap 600, Russell 2000 and Russell 3000 indices.

About Truitt Bros., Inc.
Co-founded and operated by brothers David and Peter Truitt, Truitt Bros. is a third-generation
family-owned food processor with operations in Salem, Oregon and East Bernstadt, Kentucky.
Leaders in bringing quality and innovation to the industry, the company provides shelf stable
products for a wide variety of establishments, from restaurants and businesses to health care and
retailers. As part of their commitment to preservation of natural resources, as well as positive
employee relations and environmentally responsible manufacturing practices, Truitt Bros. became
the first food processor in the country to earn Food Alliance certification in May of 2006. In 2010,
the company was recognized as one of Oregon’s leaders in sustainable approaches to business and
honored by Governor Kulongoski with an Oregon Sustainability Award.

© Food and Drink Industry

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