Two Rivers Water, a US-based developer of irrigated farmlands, has completed the second and final phase of the purchase of assets of Dionisio Produce & Farms, a producer of fruit and vegetable crops based in Colorado, US.
The company has appointed Russ Dionisio as the president and chief operating officer of Dionisio Farms & Produce.
Two Rivers founder and CEO John McKowen said the company invested $600,000 in the first phase of the Dionisio acquisition, which planted 385 acres of cabbage, pumpkins, squash and parsnips.
" The first phase generated over $900,000 in revenues in 2012 with greater than 30% gross profit margins in only a partial year of production. Next year, we will plant 675 acres on the Dionisio farms," McKowen added.
In 2013, Two Rivers plans to triple its acreage in vegetable row crops. It also plans to put 30,000 acres into vegetable row crops, along the Arkansas River in Colorado.
Two Rivers Water operates two core businesses, organic crop production and traditional cropping. It also develops high yield irrigated farmland along with the associated water rights in the western US.
