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August 26, 2013

Griffin to dispose of Imperial nursery inventory


Griffin Land & Nurseries, a major Connecticut landlord, said it has signed a letter of intent with a private company to dispose of a subsidiary's landscape nursery growing operations.

Under the terms of the agreement, Griffin would sell Imperial Nurseries' inventory, with payments to be received over a series of years. The letter also calls for a long-term lease with a purchase option.

Griffin said it expects virtually all of Imperial’s operations and sales personnel to remain employed with the buyer.

The transaction is expected to close this fall.

Read more

Griffin’s 3Q revenue down 34 percent

CT nursery sale pushes Griffin into the red

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