FreshEdge Acquires Valley Produce to Expand Distribution; Steve Grinstead, Greg Corsaro, and Mark Stansberry Discuss
KNOXVILLE, TN - FreshEdge is continuing to make strategic moves to build out its market share, as the company has pulled back the curtain on another pivotal acquisition. It was recently announced that the company has acquired Tennessee-based Valley Produce to further diversify its offerings and grow its consumer base in Tennessee and the southeastern U.S.
“We are excited for Valley to join our family of ‘Best in Class’ fresh food distribution companies that are supported by our vertically integrated, value-added operations,” said Steve Grinstead, Chief Executive Officer of FreshEdge.
Valley Produce was founded in the early 1980s and distributes fresh produce and specialty products to foodservice customers from its facility near Knoxville, Tennessee. Valley is one part of a growing family that includes Piazza Produce & Specialty Foods, Indianapolis Fruit, Get Fresh, McCartney Produce, Leonardo’s Produce, Garden Cut, CIBUS Fresh, and Papania’s, according to Building Indiana Business.
The recent transaction with FreshEdge combines the business’s presence in eastern Tennessee, allowing the combined company to continue pursuing expansion in the southeastern U.S. The financial terms of the deal were not disclosed.
“We welcome the Valley team and are excited to have them join FreshEdge,” said Greg Corsaro, President and Chief Operating Officer of FreshEdge. “Adding Valley to our family of companies greatly enhances our ability to serve retail and foodservice customers throughout the Mid-South and Southeast.”
Following the transaction, Mark Stansberry will continue to oversee Valley Produce as President, and its operations will continue in its current facility.
“By joining FreshEdge, Valley will expand its selection of specialty items and add fresh-cut processed products such as fresh salads, sandwiches, and healthy snack items—while continuing to provide exceptional customer service to our current and future customers,” said Stansberry. “We look forward to this new era of opportunity and growth for Valley.”
FreshEdge is backed by Rotunda Capital Partners, which invests equity capital in established lower middle-market companies. Rotunda made its food industry debut in 2017 with the acquisition of Indianapolis Fruit and Piazza Produce, and FreshEdge was created in 2019 when Get Fresh joined the platform. The deal with Valley Produce is FreshEdge’s fifth acquisition since Rotunda’s first investment.
AndNowUknow will continue to report on the continued growth strategies of produce players like this one, so keep an eye out.