Fox Hollow Farms will acquire Hickory Farm, a privately held farm located in the Hickory, N.C., area, said Dan Cate, the company’s chief executive officer.
Cate said the farm will continue to operate as an organic farm with a focus on health and sustainability.
“The Hickory family is passionate about organic farming and we are excited about working together to ensure our farms remain an open, healthy environment for our community and employees,” Cate wrote in a statement.
The company plans to build a 100,000-square-foot greenhouse facility in Hickory and to lease the property to Hickory farmers.
“We have the resources and the talent to be successful and we plan to continue to grow and support our community with this new investment,” Cine said.
Hickory is owned by the Saginaw, Mich.-based Hickory Family Farms, which has about 400 employees and employs more than 2,400 people.
The farm is part of a chain that includes Hickory Baking Company, Hickory Foods, Hickories Dairy Products, Hickys Organic Farm and Hickory Organic Produce.
The family owns three other farms in the Southeastern United States, according to the company.
The Hickory farms have been producing organic products since 2009, Cate’s statement said.
The new owners will make changes to the operation including the opening of a new organic kitchen, which is being built, and a new greenhouse, Cine wrote.
Hickories Farm, which employs about 1,500 people, is part in a family-owned organic farming operation that also owns other farms.
Cates said the Hickories family plans to continue operating the farm as an organically managed farm with health and wellness and environmental sustainability in mind.
The move comes as the organic market has grown and the industry faces challenges, including competition from more sustainable, organic food.
Organic farmers have also been growing and are now more profitable than conventional farms.
The market for organic food has grown from $2.4 billion in 2010 to more than $30 billion last year, according