INDIANAPOLIS–(BUSINESS WIRE)–McCartney Produce, BB #:284500 a distributor of fresh produce and specialty food products, joined FreshEdge, a family of produce and specialty food companies, further diversifying the group’s combined customer base and increasing its breadth and depth of service offerings in the Midwest and Southeast.
“We are pleased to continue to build our family of ‘Best in Class’ fresh food distribution companies that are supported by our collection of vertically integrated value-added operations,” said Steve Grinstead, CEO of FreshEdge.
Terms of the deal, which closed November 18, 2020, were not disclosed. This transaction positions the combined group of companies as one of the largest independent produce and specialty food distributors in the U.S.
“We are excited to have McCartney join the FreshEdge family,” said Greg Corsaro, president of FreshEdge. “We believe combining our operations in Tennessee with McCartney’s strong market presence will enhance FreshEdge’s ability to serve foodservice and retail customers in the South and Southeast.”
Founded in 1947, McCartney distributes fresh produce and specialty products to foodservice and retail customers from its state-of-the-art facility located in Paris, Tennessee (approximately two hours from both Nashville and Memphis). Raymon Randolph will continue to lead McCartney as president, and the company’s operations will carry on from its current facility.
“By teaming up with FreshEdge, McCartney will expand its selection of specialty items and fresh-cut processed products such as fresh salads, sandwiches, and healthy snack items – while continuing to provide its exceptional customer service,” said Raymon Randolph, president of McCartney Produce.
This family of companies is backed by Rotunda Capital Partners, a Bethesda, Maryland-based private equity firm that invests equity capital in established lower middle-market companies. Rotunda provides opportunities for management teams to reach strategic, financial, and operational objectives. Rotunda entered the food business in 2017 with the acquisition of Indianapolis Fruit and Piazza.
FreshEdge was created last summer when Get Fresh joined the family of companies. Together, Rotunda and FreshEdge intend to continue expanding FreshEdge by welcoming more companies into the group—all focused on high quality produce and specialty food products, along with exceptional service—to create a unique team of complementary entities.
FreshEdge was formed in 2019 through the combination of Get Fresh Produce (founded 1982) and the IF&P Foods family of companies, primarily composed of Indianapolis Fruit (founded 1947) and Piazza Produce (founded 1970). Collectively, the three leading fresh food distribution companies have nearly 150 years of combined experience serving the grocery and food service industries. In addition, FreshEdge includes two Garden Cut branded fresh-cut processing facilities, a tomato re-packer, a USDA fresh kitchen (CIBUS Fresh), and two transportation companies. FreshEdge’s fleet resource includes over 400 refrigerated trucks servicing the Midwest and beyond from seven facilities totaling over 400,000 square-feet of warehouse space. Today, FreshEdge is a category leader in providing both the foodservice and retail industries with fruit, vegetables, fresh grab-n-go offerings, dairy, floral, and specialty products.
About Rotunda Capital Partners
Rotunda Capital Partners is a private equity firm that invests equity capital in established, lower middle market companies. Rotunda Capital partners with management to build data-driven growth platforms within its targeted sectors, including value added distribution, asset light logistics, industrial/business services and specialty finance/insurance services. Founded in 2009, the firm has a long history of helping management teams achieve their goals for growth. The Rotunda Capital team actively provides guidance and draws on deep industry and financial relationships to contribute to the successful execution of Rotunda’s companies’ strategic plans. For more, visit www.rotundacapital.com.
Rotunda Capital Partners