Sanyo Foods Buys 4th : Southland Golf Course in Tustin Ranch Club
GARDEN GROVE — Fore! Or make that, four.
Sanyo Foods Corp. of America has just purchased its fourth Southland golf course, the 160-acre Tustin Ranch Golf Club.
The club is the centerpiece of an Irvine Co. master-planned community. Though details of the sale were not disclosed, observers estimated the price at $35 million. Dawn McCormick, an Irvine Co. spokeswoman, confirmed the figure.
Sanyo Foods, based in Garden Grove, has made ramen-style noodles for 30 years and is a division of Japan’s largest noodle-maker, Sanyo Foods Inc. Sanyo Foods also owns the Dove Canyon Country Club, an 874-acre property it bought in September; the 135-acre Yorba Linda Country Club; and the 120-acre Lomas Santa Fe golf club, at Solana Beach in San Diego County.
Officials of Sanyo were not available for comment on Tuesday.
Irvine Co. built the Tustin Ranch golf club three years ago, McCormick said. It has averaged 70,000 to 80,000 rounds of golf a year, she said, generating revenue of more than $4 million annually.
With the local real estate market in a prolonged slump, a number of developers have been selling properties to raise cash.
McCormick said Sanyo Foods made an offer that was too good to pass up.
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