FreshEdge Acquires City Produce; Steve Grinstead, Greg Corsaro, and Tommy Sundy Comment
FLORIDA - Acquisitions are in the air, as FreshEdge, a family of produce and specialty food companies, recently acquired City Produce. City Produce, headquartered in Fort Walton Beach, Florida, offers FreshEdge a chance to expand its footprint further in the Southeast.
"We welcome Tommy Sundy and his amazing team to the FreshEdge family of companies," said Steve Grinstead, Chief Executive Officer of FreshEdge. "We are excited for this great company to join FreshEdge as we expand farther into the Southeast."
According to a press release, this acquisition provides space and logistical support to better serve its customer base as it spreads further south. City Produce operates out of two facilities in Fort Walton Beach, Florida, and Foley, Alabama.
"City Produce will be a great addition to our expanding group of 'best in class' fresh food distribution companies," said Greg Corsaro, President and Chief Operating Officer of FreshEdge. "We look forward to Tommy's continued leadership at City Produce."
Sundy, President of City Produce, also commented on the acquisition.
"Our City Produce team is excited to join the FreshEdge family—knowing we'll be 'better together,'" said Sundy. "This is the next step in increasing our footprint, serving customers with expanded offerings, and growing for our future."
With the acquisition of City Produce, FreshEdge now operates with more than 2,000 employees, approximately 808,500 square feet of warehouse space, and a fleet of more than 720 trucks. Terms of the deal, which closed on May 10, 2022, were not disclosed.
City Produce marks FreshEdge's seventh acquisition since Rotunda Capital Partners', a lower middle market private equity firm, initial investment.
Stay tuned to us here at AndNowUKnow as we continue to cover the latest in industry news.