Apollo currently retains 100% ownership of the land and 100% ownership of the farm operations comprised of 271 acres of prime agricultural land. 200 acres of the land area are currently planted for cranberry production. The farm has been active since 1996 and continues to produce annual cranberry yields that are purchased wholesale by Ocean Spray, one of North America's largest food and beverage distributors.
Apollo Cranberries operational revenues are steady and secure as the yearly harvest every October is 100% purchased by Ocean Spray Cranberries growers co-op as part of the 'Pool A' group. Apollo is well positioned as one of Ocean Sprays 'Pool A' growers as this provides the best market value and potential ROI for the farming operation. The cranberry industry continues to grow as the health benefits for cranberry consumption becomes more readily identified and as Ocean Spray and other cranberry product distributors enter into markets outside of North America in Asia, Europe and the Middle East.
As a leader in the industry, our partnership with Ocean Spray is a key asset in the long-term financial viability of the operation. The farm yields on average 4,000,000 pounds of cranberries every year which are used in the production of juices and various cranberry products found in your local grocery store.