INDIANAPOLIS — FreshEdge, a family of food and specialty food companies backed by Rotunda Capital Partners, has acquired City Produce, a fresh produce distributor headquartered in Fort Walton Beach, Florida. For many years, City Produce has served North Central Florida, the Florida Panhandle and South Central Alabama distributing fresh fruits and vegetables, including a range of fresh cut offerings, dairy, meats, seafood, specialty foods, etc. City Produce operates from two facilities, one in Fort Walton Beach and a second in Foley, Alabama.
This addition expands FreshEdge’s footprint in the southern United States and provides space and logistical support to better serve its customer base as it expands further south. City Produce joins Piazza Produce & Specialty Foods, Indianapolis Fruit, Get Fresh Produce, McCartney Produce, Monteverde’s, Valley Produce, Vine Line, Garden Cut, CIBUS Fresh and Papania’s.
FreshEdge now operates with over 2,000 employees, approximately 808,500 square feet of warehouse space and a fleet of over 720 trucks.
“We welcome Tommy Sundy and his incredible team to the FreshEdge family of companies,” said Steve Grinstead, CEO of FreshEdge. “We are excited to have this great company join FreshEdge as we expand further in the Southeast.”
Terms of the deal, which was completed on May 10, 2022, were not disclosed. The transaction strengthens the combined company’s presence in Florida and southern Alabama.
“City Produce will be a great addition to our growing group of ‘best in class’ fresh food distribution companies,” said Greg Corsaro, President and COO of FreshEdge. “We look forward to Tommy’s continued leadership at City Produce.”
“Our City Produce team is thrilled to join the FreshEdge family, knowing that we will be ‘better together,'” said Tommy Sundy, President. “This is the next step in growing our footprint, serving customers with expanded offerings and growing for our future.”
FreshEdge is backed by Rotunda Capital Partners, a lower-middle-market private equity firm focused on investing in family and founder businesses. Rotunda seeks to provide leadership teams with opportunities to achieve strategic, financial and operational goals. Rotunda entered the food business in 2017 with the acquisition of Indianapolis Fruit and Piazza Produce. FreshEdge was created in 2019 when Get Fresh Produce joined the platform. City Produce represents FreshEdge’s seventh acquisition since Rotunda’s initial investment. Together, Rotunda and FreshEdge intend to continue the expansion of FreshEdge by welcoming more companies into the group, all focused on high quality food products and specialty food products, as well as exceptional service, in order to create a unique group of complementary entities.
FreshEdge was created in 2019 through the combination of Get Fresh Produce (founded in 1982) and the IF&P Foods family of companies, primarily comprised of Indianapolis Fruit (founded in 1947) and Piazza Produce (founded in 1970). McCartney Produce (Paris, TN) joined the FreshEdge family in November 2020, followed by Valley Produce (Knoxville, TN) in June 2021, Vine Line (Grand Rapids, MI) in October 2021 and Monteverde’s (Pittsburgh, PA) in November 2021 Collectively, these large fresh food distribution companies have nearly 500 years of combined experience serving the grocery and restaurant industries. FreshEdge includes two Garden Cut-branded fresh-cut processing facilities, a tomato repacker, a USDA fresh kitchen (CIBUS Fresh), and two transportation companies. FreshEdge’s fleet includes more than 720 trucks serving the Midwest and beyond from 12 facilities totaling approximately 808,500 square feet of warehouse space. Today, FreshEdge is one of the largest independent fresh food distributors in the United States and a leader in supplying the foodservice and retail industries with fruits, vegetables, proteins, fresh produce take-out, dairy, floral and specialty products. . For more information, visit www.freshedgefoods.com.
About Rotunda Capital Partners
Rotunda Capital Partners is an operations-oriented private equity firm focused on transforming family businesses into dynamic, data-driven platforms capable of achieving and managing significant growth. Since its inception in 2009, Rotunda has partnered with management teams to build great businesses in three main sectors: value-added distribution, asset-light logistics, and industrial and commercial services. Rotunda strives to achieve repeatable results by implementing its Rotunda Performance System to create strategic alignment, develop lean processes, and create robust, data-driven infrastructures. For more information, visit www.rotundacapital.com.