Arable Capital Partners has acquired Oxnard, California-based Fresh Innovations, a processor of fresh sliced apples and other packaged fruits. No financial terms were disclosed. Alpine Pacific Capital was a minority investor in the transaction.
BELLEVUE, April 4, 2018 – Arable Capital Partners (“Arable”) announced today the acquisition of Fresh Innovations California (“Fresh” or the “Company”), an Oxnard, CA based processor of fresh sliced apples and other packaged fruits. Alpine Pacific Capital participated as a minority investor.
Fresh Innovations has been a leader in the fresh sliced-apple segment since 2001. The Company offers its health-driven, conveniently packaged fresh fruits and vegetable products in both organic and conventional options. Fresh serves the warehouse club, casual dining, entertainment, education and health care segments amongst others.
Arable is partnering with the Company’s existing management team to expand operations. The Arable team has deep operational and investing experience and is positioned as a long-term investor. “We were attracted to Arable because of its commitment to innovation and growth,” explained Toby Cohen, founder and Company President. Cohen also indicated that he and the other members of the management team were very impressed with Arable Capital’s longer-term investment approach. Cohen further expanded, “We realized early in the process that Arable is a great fit with the Fresh Innovations people-centered culture.”
“We like the Fresh Innovations approach to healthy, convenient, fresh snacks and are excited to partner with Toby Cohen, Gary Madson, Todd Nelson, and the rest of the team to support their growth plans,” said Greg Richards, Managing Director of Arable Capital Partners. “Fresh aligns well with the Arable investment thesis in midstream agribusiness. As one of our first investments, this is a great partnership that will allow Fresh Innovations and Arable to capitalize on a successful existing business positioned for expansion.”
About Arable Capital Partners
Based in Bellevue, WA and Bakersfield, CA, Arable focuses on investing in food & agriculture companies. The firm takes a broad approach to the industry, making long-term investments from “seed to shelf.” Arable is an attractive partner for family operators and management teams, targeting 15+ year hold periods with long term strategic investments.