The U.S. Department of Agriculture’s Rural Development Agency has provided a $1.15 million loan to one of Maine’s largest apple growers, Cooper Farms Inc. and Cooper Farms Holdings LLC.
According to a USDA press release, the department provided a Business & Industry Guaranteed Loanto the Buckfield-based Cooper Farms, Inc. to assist in the purchase of real estate and assets once owned by Maine Apple Co. in the towns of Buckfield, Monmouth and Winthrop.
The news release also states that this acquisition will allow Cooper Farms Inc. to expand its existing apple growing, harvesting, storing, packing and distribution operations.
Currently, the farm averages about 950,000 bushels of apples over the past three seasons, with local distribution in addition to availability down the Eastern seaboard and the Midwest.
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