California’s GreenFruit Avocados sold to consortium

GreenFruit Avocados, a California-based avocado supplier, has been acquired by a consortium of “industry veterans”.

The acquiring radical comprises Scott Bauwens and Jamie Johnson, partners successful different California-based avocado grower, Simpatica.

They are joined by a erstwhile enforcement astatine US-based effect grower and supplier Mission Produce, Jim Donovan, on with Spanish concern institution Tahuaycani.

The capitalist has ties to Peru-based avocado shaper Agrícola Cerro Prieto (ACP Agro), according to a statement.

The buyers acquired 100% of GreenFruit done a recently formed holding company, Last Mile. The acquisition volition besides beryllium supported by an concern money managed by New York-based Ospraie Management.

Financial presumption of the transaction were not disclosed.

Customer and grower relationships and contracts volition stay “a apical priority” for each entities successful the transaction, GreenFruit said.

Under the caller ownership structure, Bauwens volition measurement down arsenic CEO of Simpatica to go GreenFruit’s full-time main executive.

Donovan, who spent 36 years astatine Mission Produce and astir precocious served arsenic elder vice president of planetary sourcing, has been appointed enforcement president of the board.

Brian Gomez, 1 of GreenFruit’s archetypal owners, volition proceed arsenic president of sales.

The caller CEO Bauwens said: "This is industry-savvy ownership with existent grower relationships successful a vertically integrated model. We recognize this concern from the crushed up.

"For growers, that means a financially stronger spouse who knows their world. For retailers and distributors, that means a squad with the credibility and the proviso extent to present connected what we promise."

Founded successful 2014, GreenFruit is engaged successful avocado ripening, acold retention and logistics services. The institution said its ripening and organisation web spans Southern California, Texas, Chicago, Miami, Pennsylvania, Toronto and Vancouver.

Mexico volition stay a “core foundation” of its sourcing model.

The company's office volition stay successful Orange County, California, portion it intends to grow proviso operations crossed South America, California, Mexico and Europe.

GreenFruit added Tahuaycani’s “connection to ACP Agro” is expected to adhd standard and year-round sourcing from Peru, portion Simpatica’s astir 1,400 acres of California groves successful Ventura, Santa Barbara and Riverside counties volition supply home increasing capacity.

The announcement comes amid consolidation successful the avocado category.

Earlier this year, Mission Produce struck a woody to get chap California avocado supplier Calavo Growers. The transaction valued Calavo astatine astir $430m.