Vision Produce Acquired by Worldwide Produce, A Sole Source Capital Portfolio Company; Bill Vogel, Todd Ferguson, and Dewey Turner Discuss
DALLAS, TX - A major acquisition rocked the news wave recently as we here at ANUK learned that Vision Produce was acquired by Worldwide Produce (WWP). The acquiring business is a portfolio company of Sole Source Capital, an industrial-focused private equity firm.
“Worldwide Produce is an ideal partner to support the continued growth of Vision Produce. Connecting growers of the highest quality produce to customers is our shared mission,” said Bill Vogel, Chairman and Chief Executive Officer of Vision Produce. “The Vision team is excited to partner with both Worldwide and SSC in its next phase of growth, and we would like to thank the Sole Source team for its unwavering commitment to getting the transaction completed.”
According to the release, the terms of the transaction weren’t disclosed. Vision Produce was established in 1980, operating facilities in both Los Angeles, California, and Phoenix, Arizona. The fresh produce importer and distributor sells primarily to retail, wholesale, and foodservice distribution customers in the Western United States and offers a variety of produce including mangos, limes, melons, chili peppers, and more, which are sourced primarily from Mexico and South America.
Additionally, Vision Produce owns Southwest Truck Brokers, a Phoenix-based freight and logistics broker. The company will continue to operate with its well-known brand name under the leadership of Dan Lawton, Vision Produce’s President.
“I’m thrilled that Vision Produce has joined the Worldwide family,” said Todd Ferguson, Chief Executive Officer of Worldwide Produce. “The team at Vision brings tremendous experience sourcing and importing quality produce and expertly serving their blue-chip customer base. With a location in Phoenix as well as Los Angeles, Vision’s footprint will allow us to continue to expand our reach and serve customers in this key growth market.”
As noted in the release, Worldwide Produce is one of the largest fresh produce and dairy distributors in Southern California. With a commitment to sourcing, handling, and storing all produce with the highest standards of safety, WWP has developed a strong reputation for providing high-quality produce and superior service levels to its customers.
“Vision Produce provides highly valued expertise and exposure to the retail and wholesale end markets,” said Dewey Turner III, Partner and President of Portfolio Operations for Sole Source Capital. “The combined reach and expertise of Worldwide and Vision will quickly create an industry leader, offering a broad product range and differentiated services across multiple market segments.”
With this new deal locked in place, how will the evolution of fresh produce continue to accelerate? AndNowUKnow will keep an eye on the newswire.