Almond farm in Fresno County, funded by private equity, closes down before first harvest

Financially Troubled Almond Farm in California Faces Bankruptcy and Land Sale

Financially troubled almond farm, Trinitas Farming LLC, on the brink of collapse

Trinitas Farming LLC, an Oakdale-based almond farm with ranches in Fresno and Tulare counties, is facing financial turmoil and is preparing to sell nearly 8,000 acres of young almond trees. The company, funded by a private equity firm, filed for Chapter 11 bankruptcy on Feb. 19 after accumulating $188 million in debt.

The farming company was on the verge of harvesting its first crop when it ran out of money, leading to the bankruptcy filing. This news comes on the heels of the collapse of Prima Wawona, another major player in the tree fruit industry, which recently liquidated about 13,000 acres as part of its bankruptcy proceedings.

The Assemi family, a prominent pistachio grower in the San Joaquin Valley, is also evaluating its portfolio and making adjustments to stay afloat. With the almond industry facing challenges such as rising interest rates, production costs, declining commodity prices, and new watering regulations, many farming companies are struggling to stay profitable.

Real estate experts predict that the sudden influx of farmland on the market could lead to a decline in land prices, especially in areas with limited water resources. Despite these challenges, there is still optimism among almond farmers, who have weathered the ups and downs of the agriculture industry before.

Interested buyers have until May 17 to submit offers for the almond ranches, with institutional investors showing interest in the properties. While the industry may be facing a tough road ahead, analysts believe that there is potential for a turnaround in the coming years as supply and demand balance out.

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