December 20, 2004 - Wm. Bolthouse Farms, Inc. has completed the acquisition of the packing and processing operations of Mercer Ranches, Inc. Headquartered in Prosser, Washington, Mercer Ranches is a leading vegetable grower and processor in the Pacific Northwest. Mercer Ranches markets a wide variety of packed and processed fresh carrots and sweet corn to food distributors, produce wholesalers, supermarkets, supercenters, and foodservice operators across the United States.

Wm. Bolthouse Farms, headquartered in Bakersfield, California, is one of the world's largest producers of fresh carrots with a product offering that includes pre-cut and pre-peeled baby carrots, fresh whole carrots, and carrot juice. Wm. Bolthouse Farms is a 4th generation family-owned company, which traces its roots back to 1915, where it first began commercial vegetable farming in Michigan.

Duff & Phelps, LLC initiated the transaction, assisted in negotiations, and served as the exclusive financial advisor to Mercer Ranches, Inc. Duff & Phelps is a national investment banking and financial advisory firm focused on providing merger and acquisition, private placement, valuation, financial opinion and restructuring services. Since 1932, Duff & Phelps has been committed to delivering independent advice and service of exceptional quality to a broad range of public and private companies.