5/30/2013 4:22:00 PM North Branch Granola company bought by Indian Harvest
by DENISE MARTIN
Bemidji-based Indian Harvest Specialitifoods reports the completed acquisition of a North Branch-based granola company, now going by the name Olympia. The purchase of “substantially all the assets of Olympia” by a subsidiary of Indian Harvest was finalized a little over a month ago. The North Branch plant should see “no interruption in services or change in staff,” according to a statement from Indian Harvest.
The purchaser-- Harvest Granola LLC, a supplier of rice grains and legumes to industry and food service-- is a fully-owned subsidiary of Indian Harvest Specialtifoods. Indian Harvest is owned by Duininck Companies, LLC in Prinsburg, MN. The Chisago County Press reported in February a buyout was pending between Indian Harvest and Olympic (as it was called last winter.) The city of North Branch was being asked to step away from claims to an outstanding loan balance to the granola plant. A creditor settlement was “in the city’s best interests,” the council was advised at the time by financial director Richard Hill. North Branch had been paid back some of the $80,000 in aid the granola company received beginning in 2008. There was $59,000 remaining unpaid with the agreement leaving the city eligible for $30,000.
The city council was supportive hoping the sale would result in the facility continuing to operate in North Branch. The investment by Indian Harvest in the North Branch facility was a “logical progression” according to the company statement. Their specialty rice and whole grain line was being expanded to include “puffed” rice and grains which are primary ingredients in trail bars like those made by now Olympia Granola. It was the search for a manufacturing partner that led Indian Harvest to North Branch. Indian Harvest introduced Puffed Wild Rice, Brown Rice and Colusari Red Rice at the Research Chefs Association Culinology Expo.