Black Diamond acquires Sun World for $127.75 million

By Ellen Chang

Houston, Feb. 28 - Black Diamond Capital Management said it has acquired Sun World International, Inc. for $127.75 million.

The company will do business under the name of Sun World International, LLC.

Sun World International, Inc. filed for Chapter 11 on Jan. 30, 2003.

An auction of the company's assets was held in January and on Jan. 14 the bankruptcy court confirmed Black Diamond-managed entities as the winning bidder. Black Diamond made the acquisition through Sun World International, LLC, which it owns.

"We are excited about Sun World's long-term value potential as a leading agricultural producer and are committed to enhancing its growth and profitability,"" said Christopher Kipley, a partner at Black Diamond, in a written statement.

"We intend to build upon Sun World's core strengths and its excellent organization so that the company will be able to continue to serve the needs of its customers."

Sun World is a California-based agricultural corporation.

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