California’s Greenfruit Avocados Sold To Consortium

3 days ago

The institution will stay headquartered successful California, pinch plans to grow proviso operations crossed South America, Mexico and Europe.

GreenFruit Avocados, a California-based avocado supplier, has been acquired by a consortium of “industry veterans”.

The acquiring group comprises Scott Bauwens and Jamie Johnson, partners successful different California-based avocado grower, Simpatica.

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They are joined by a erstwhile executive astatine US-based consequence grower and supplier Mission Produce, Jim Donovan, on pinch Spanish finance institution Tahuaycani.

The investor has ties to Peru-based avocado shaper Agrícola Cerro Prieto (ACP Agro), according to a statement.

The buyers acquired 100% of GreenFruit done a recently formed holding company, Last Mile. The acquisition will besides beryllium supported by an finance money managed by New York-based Ospraie Management.

Financial position of nan transaction were not disclosed.

Customer and grower relationships and contracts will stay “a apical priority” for each entities successful nan transaction, GreenFruit said.

Under nan caller ownership structure, Bauwens will measurement down arsenic CEO of Simpatica to go GreenFruit’s full-time main executive.

Donovan, who spent 36 years astatine Mission Produce and astir precocious served arsenic elder vice president of world sourcing, has been appointed executive president of nan board.

Brian Gomez, 1 of GreenFruit’s original owners, will proceed arsenic president of sales.

The caller CEO Bauwens said: “This is industry-savvy ownership pinch existent grower relationships successful a vertically integrated model. We understand this business from nan crushed up.

“For growers, that intends a financially stronger partner who knows their world. For retailers and distributors, that intends a squad pinch nan credibility and nan proviso extent to present connected what we promise.”

Founded successful 2014, GreenFruit is engaged successful avocado ripening, acold retention and logistics services. The institution said its ripening and distribution web spans Southern California, Texas, Chicago, Miami, Pennsylvania, Toronto and Vancouver.

Mexico will stay a “core foundation” of its sourcing model.

The company’s office will stay successful Orange County, California, while it intends to grow proviso operations crossed South America, California, Mexico and Europe.

GreenFruit added Tahuaycani’s “connection to ACP Agro” is expected to adhd standard and year-round sourcing from Peru, while Simpatica’s astir 1,400 acres of California groves successful Ventura, Santa Barbara and Riverside counties will supply home increasing capacity.

The announcement comes amid consolidation successful nan avocado category.

Earlier this year, Mission Produce struck a deal to get chap California avocado supplier Calavo Growers. The transaction weighted Calavo astatine astir $430m.