July 27, 2007
Nursery sells 742 acres for more than $25M
By Matthew L. Brown
Weston Nurseries Inc. of Hopkinton today sold 709 acres to Boulder Capital, a prominent real estate development firm.
The sale comes after lengthy, often contentious discussions between the nursery's owning Mezitt family, Hopkinton town officials and community members.
Also today, the nursery announced it had emerged from bankruptcy.
In a second deal, the town of Ashland purchased approximately 33 acres of land from the company.
The two land sales totaled "collectively, a little more than $25 million," said Gary Furst, until today, the company's president and CEO.
With the company out of bankruptcy, several leadership changes have taken place to ensure Weston Nurseries' continued growth and success, the company said.
Furst has stepped down as president and chief executive officer, and has assumed the role of chairman. Peter Mezitt, the company's general manager, is now president. Wayne Mezitt purchased his brother, Roger Mezitt's shares in the company, and is now the nursery's sole owner and treasurer. David Pearce will continue to serve as chief operating officer and chief financial officer.
The sale comes after lengthy, often contentious discussions between the nursery's owning Mezitt family, Hopkinton town officials and community members.
Also today, the nursery announced it had emerged from bankruptcy.
In a second deal, the town of Ashland purchased approximately 33 acres of land from the company.
The two land sales totaled "collectively, a little more than $25 million," said Gary Furst, until today, the company's president and CEO.
With the company out of bankruptcy, several leadership changes have taken place to ensure Weston Nurseries' continued growth and success, the company said.
Furst has stepped down as president and chief executive officer, and has assumed the role of chairman. Peter Mezitt, the company's general manager, is now president. Wayne Mezitt purchased his brother, Roger Mezitt's shares in the company, and is now the nursery's sole owner and treasurer. David Pearce will continue to serve as chief operating officer and chief financial officer.
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