Private Equity-Owned California Almond Producer Files Bankruptcy

A private equity-owned operator of California almond ranches has filed bankruptcy, citing high interest rates and near-record low almond prices.

Trinitas Farming LLC, which is backed by private equity-firm Trinitas Partners LLC, filed Chapter 11 on Sunday listing assets and liabilities each of between $10 million and $50 million. The company said it will use its time in bankruptcy to sell its almond ranches to pay off its debt.

Trinitas Farming operates 17 almond ranches spanning more than 7,800 acres in California’s Central Valley; the company owns a majority stake in an olive ranch, as well. The bankruptcy comes ...