Arable Capital Partners has acquired Stockton, California-based Farmington Fresh Cuts, a processor of fresh sliced apples, oranges, pears and other packaged fruits. No financial terms were disclosed for the deal in which Alpine Pacific Capital participated as a minority investor. Farmington will merge with Fresh Innovations, which is also backed by Arable.
BELLEVUE, June 7, 2018 – Arable Capital Partners (“Arable”) announced today the acquisition of Farmington Fresh Cuts (“Farmington” or the “Company”), a Stockton, CA based processor of fresh sliced apples, oranges, pears, and other packaged fruits. Farmington will be merged with Fresh Innovations, an Arable portfolio company, further strengthening Fresh Innovation’s presence in the fresh sliced fruit category. Alpine Pacific Capital participated as a minority investor.
Farmington has been a dominant player in the value added fresh fruit category in the central valley of California since 1995. The Company’s strategic location next to the Stockton Metropolitan Airport and nearby highways provides unparalleled access to both suppliers and customers. Farmington has a long-standing customer base in California, serving the school, foodservice and retail segments. “The addition of Farmington will help us accelerate our growth plans for Fresh Innovations. We have a lot of confidence in the Fresh Innovations management team that will be running the combined companies,” said Greg Richards, Managing Director of Arable Capital Partners.
“The acquisition of Farmington is consistent with our objective to continue expanding our national presence and enhancing the value proposition of our current and future product offerings,” explained Toby Cohen, President of Fresh Innovations. Cohen further expanded, “My management team has identified numerous ways to translate the Fresh Innovation’s best practices into the Farmington business. This acquisition is going to give us much needed capacity to help accelerate our growth objectives.”
“We are excited to build on our investment in the value-added fruit and vegetable category. This merger allows both companies to continue their high level of service for their existing customers and to develop new customers on a regional and national level,” added Derek Yurosek, Managing Director of Arable Capital Partners.
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.