Investcorp acquires California wholesale produce distributor

Sunrise was founded in 1991 by Paul Carone, who is retiring.

  • President and CEO David Sapia will remain a shareholder in Sunrise
  • Sunrise serves a diversified base of over 2,000 accounts
  • As of June 30, 2022, Investcorp Group has $42.7 billion in total assets under management

Investcorp has acquired a majority stake in Sunrise Produce, a Southern California-based wholesale produce distribution company based in Southern California. No financial terms were disclosed.

Sunrise was founded in 1991 by Paul Carone, and is headquartered in Fullerton, California. Sunrise serves a diversified base of over 2,000 accounts.

Sunrise is led by President and CEO David Sapia, an industry veteran with over 35 years of food distribution industry experience. Sapia joined Sunrise in 1998. Moving forward, Sapia remains a significant shareholder in the Company.

“We are extremely excited about this pivotal moment for our thriving company,” said Sapia, in a statement. “Investcorp’s business acumen and resources make them an ideal partner to help fuel our next phase of growth and help us continue to serve our expanding roster of diverse customers with the quality and personal service that they’ve grown accustomed to from Sunrise.”

In addition, Paul Carone, Founder of Sunrise, is retiring.
Investcorp’s investments include Fortune Fish & Gourmet, S&S Truck Parts, KSI Auto Parts, Arrowhead Engineered Products and Berlin Packaging.

Investcorp launched in 1982. As of June 30, 2022, Investcorp Group has $42.7 billion in total assets under management.