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The planned acquisition of Wolfe Nursery by a large Fort Worth company has been called off.
Calloways Nursery Inc., which announced in June that it would purchase both Wolfe Nursery and Houston-based Cornelius Nurseries, says it will not pursue the Wolfe purchase.
"Company resources simply were not adequate to ensure the successful acquisition and operation of both these nurseries," said Jim Estill, Calloways' president and chief executive officer, in a prepared statement. "We have, therefore, agreed to concentrate our efforts toward the successful completion of the acquisition of Cornelius Nurseries of Houston.
Calloways officials declined to comment beyond the firm's prepared statement.
Jan and Frank Ramert, the president and vice president, respectively, of locally-based Wolfe Nursery, say the decision by Calloways has not hurt their plans to expand their operations.
"They didn't have the resources to complete the transaction," says Frank Ramert, referring to Calloways? decision. "It had nothing to do with Wolfe Nursery. We are still family-owned. We have added two stores this year in Austin, and we are adding one more on Loop 1604."
The Ramerts declined...