Tag: private equity

Dole plc has today announced that it has reached an agreement to sell its 65% equity stake in Progressive Produce LLC to PTF Holdings, LLC, the parent company of Pacific Trellis Fruit, LLC.

The bankruptcy of Prima Wawona, California’s largest stone fruit producer, sent shocks throughout the industry.

Agribusiness owners thinking of selling their company—whether to explore new endeavors or enjoy more leisure time—often look to family members, senior management, or known competitors to acquire a stake in the business. 

The role of private equity—and its impact on mergers and acquisitions (M&A)—continues to evolve.

Back then, it was tech companies and industry disruptors that attracted PE investment. In the years since, we’ve seen a steady increase of PE investment being made in actual produce companies—businesses that grow, ship, package, and deliver fresh fruits and vegetables. 

Merger and acquisition (M&A) activity is common in the business world, though it hasn’t been as prevalent in the fresh fruit and vegetable world—until recently.

Carofin and Carolina Financial Securities are proud to announce the closing of yet another investment in a blueberry farm in the Southeast, building upon last year’s successful raise for a similar farm.

Sunrise is led by President and Chief Executive Officer David Sapia, an industry veteran with over 35 years of food distribution industry experience.

Worldwide Produce is one of the largest fresh produce and dairy distributors in Southern California.

Fresh Direct Produce completed three add-on acquisitions during the investment period, including Emperor Specialty Foods based in Richmond, British Columbia, Canada, Islands West Manufacturing, Ltd. based in Victoria, British Columbia, Canada, and Mike & Mike’s based in Woodbridge, Ontario, Canada.