Total Produce has acquired a 50% equity stake in Californian fresh produce company, The Fresh Connection.
Headquartered in Lafayette and founded in 1994, the company exports a wide range of fruit and vegetables to more than 35 countries and reported US$165 million (£126 million) in sales last year.
It partners with a network of growers throughout the US, Mexico, South America, South Africa and Australia to supply its key produce including citrus, apples, pears, grapes, berries, cherries, and stone fruit.
Hank Miller will continue as co-shareholder and CEO of the business and Will Mehrten will remain as president of the company.
“This transaction will further strengthen the business we have developed and grown over many years,” said Miller.
“We believe our partnership will create opportunities for The Fresh Connection which will benefit all stakeholders, including our growers, suppliers, employees and, of course, our customers.”
No financial details have been disclosed.
“We are delighted to become shareholders in The Fresh Connection,” adds Total Produce chairman, Carl McCann.
“This transaction further broadens our US presence and provides us with strategic access to other key markets.”
“We look forward to working with Hank, Will and the excellent people in The
Fresh Connection as it continues to develop its very successful business expansion in
future years.”
Earlier this year Total Produce bought a 65% in Canadian-based Grandview Ventures and last year it acquired a 65% share in Progressive Produce, a grower, packer and distributor of conventional and organic produce based in Los Angeles.
