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Total Produce Acquires 50% of California Fresh Produce Firm
Monday 13 November 2017

13 November 2017 - Irish fresh produce company Total Produce plc (LSE: TOT) has acquired a 50% equity stake in California, US-based fresh produce firm The Fresh Connection, LLC, the company said.

Terms of the deal were not disclosed.

Founded in 1994 and headquartered in Lafayette, California, the company TODAY is one of North America's premier produce export companies with 2016 sales of around USD 165m.
 
The Fresh Connection is engaged in the year-round distribution and export of a wide range of fresh fruits and vegetables to customers in more than 35 countries. The firm serves its customers from operations in four key production regions.
 
The firm partners with a network of trusted growers throughout the US, Mexico, South America, South Africa, and Australia to enable it to provide many varieties of fresh produce, principally citrus, apples, pears, grapes, berries, cherries, and stone fruit, to its customers.
 
Hank Miller will continue as co-shareholder and CEO of the business and Will Mehrten will continue as president of the company.
Details
Date Published: 13/11/2017
Target: The Fresh Connection
Country: USA
Sector: Food/Beverages/Tobacco
Type: Stakebuilding
Financing:
Status: Closed
Vendor:
Buyer: Total Produce
Comment:
Terms of the deal were not disclosed

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