The B.C. company behind non-browning apples has been bought by an American corporation in a $41-million deal.
Okanagan Specialty Fruits Inc. and Intrexon Corporation announced the purchase Friday.
"Joining forces with Intrexon and applying our combined technical know-how is an important step to introducing beneficial products for consumers and growers," Okanagan Specialty Fruits founder Neal Carter said in a joint press-release with Intrexon.
Okanagan Specialty Fruits made headlines earlier this month for genetically engineering apples that don’t go brown when bruised or cut. The U.S. Department of Agriculture approved two varieties of the "Arctic" apple on Feb. 13.
Several groups in Canada have spoken out against the non-browning apples, saying they fear cross-pollination of conventional or organic apple trees with genetically modified trees.
But Okanagan Specialty says the technology will do the opposite, making apples more popular for use in salads, snacks, and lunch boxes.
As part of the agreement, Okanagan stockholders will receive $31 million in Interexon stock, and $10 million in upfront cash.
On Twitter, Okanagan Specialty Fruits added that Carter and "all other employees" will be able to keep their jobs.
Intrexon is a Virginia-based company that specializes in ‘synthetic biology,’ which it defines as creating and modifying organic materials.
"Okanagan is a world leader in the development of fruit-bearing plants … with tremendous potential to revolutionize the tree fruit industry," Thomas R. Kasser, the Head of Intrexon’s Food Sector, said in the statement.
