With a buyer ready to shell out $835 million to purchase financially troubled Fruit of the Loom, the companys future in Bowling Green may have just gotten a little bit brighter. Fruit of the Loom in early 2002 will become an independent subsidiary of Berkshire Hathaway, with John Holland as chief executive officer. Holland now is vice president of operations for Fruit. When you think about all the things that could happen, this is the absolute best, Holland said of the purchase, which still must be approved by the U.S. Bankruptcy Court in Delaware, where the company filed for reorganization in December 1999.We have the secured creditors and unsecured creditors support on this, Holland said. Berkshire will be acquiring the assets and the debts of the company initially filed at $1.2 billion that will be paid off once the sale is final, he said. Holland said very little will change with the company. Once we emerge, the plan is to continue to grow; expand the market share … there may be (advancement) opportunities for people here and perhaps, depending on magnitude of growth, for others, he said. Between the corporate headquarters and distribution center, there are more than 1,100 Fruit employees in Bowling Green. One thing that will change with the new company is that there will no longer be any corporate offices in Chicago once the bankruptcy is cleared from the court. All corporate offices will be in Bowling Green. From those corporate offices, Holland will look after Fruit facilities in the United States, Europe and the Caribbean and Mexico, where there are more than 23,000 employees. Fruits affiliation with the Berkshire company is just one more name brand on a list of other holdings the company already has, including a large stake in Coca-Cola and Geico Insurance, according to Ben Smith, vice president of Morgan Stanley Dean Witter. One of the biggest reasons the deal holds promise for Fruits future is because (Berkshire) has such sound financial condition, Smith said. The Fruit brand is already one of the most recognized. (Berkshire) brings the ability to bring that brand and company back to the promise where it once was. Speaking of once was, Holland will be doing the same job he was hired to do in 1976 when the company was in its heyday, prior to the entrance of William Farley. Many analysts believe that Farley, who left the company in early 2000, was responsible for much of the companys financial troubles, not the least of which included company-backed personal loans for Farley totaling $100 million. Holland has guided the management team in its recovery during reorganization something that didnt go unnoticed by Berkshire head Warren Buffett. Buffett said the purchase was made because of the strength of the brand and Hollands managerial skill. I appreciate the comments, Holland said. At times, Bowling Green has been on edge about what might happen to the underwear and activewear maker. This is tremendous news for the employees, the company and the community, said Margaret Grissom, chairman of the Bowling Green Area Chamber of Commerce. John Holland and his team are to be commended for the successful yearlong process. The yearlong effort has been tiring. Its been a long process and people are relieved about the sale, said David Whitaker, an attorney for the company. Whitaker, who has been with Fruit for 17 years, has seen many changes, he said. He moved from Bowling Green two years ago to the East Coast for a division there that has since been closed because of the bankruptcy. He plans on staying in Bowling Green, where he returned after that plant closed. I think its the best possible news for this company, he said. Its the outcome everybody here certainly wanted finding a company (with a reputation) like Berkshire.