BELLEVUE, WA - Arable Capital Partners—a private investment firm focused exclusively on food and agriculture businesses—has announced the acquisition of Oxnard, California-based value-added produce provider Fresh Innovations California.
“Arable Capital is a uniquely-suited partner for Fresh Innovations, because of our team of experienced agricultural operators and investors,” said Arable Capital Managing Director Derek Yurosek. “We’re looking forward to working with Fresh Innovations’ management team to expand the company’s operations and continue innovating in the value-added space.”
Yurosek noted that the acquisition was ideally suited to both parties' needs, allowing Fresh Innovations to continue to grow and employ Arable Capital's deep operational and investing experience
“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, in a press release. “Fresh Innovations 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.”
A premier provider of fresh sliced apples since 2001, Fresh Innovations provides health-driven, conveniently-packaged fresh fruits and vegetable products to warehouse club, casual dining, entertainment, education, and health care segments.
When I reached out for additional comment, Greg added: “I’m excited about this announcement for a couple reasons. We think sliced apples are part of a very exciting category in healthy fresh snack food. It’s also nice because it has been a very active first part of the year for Arable with this and some other things in the pipeline.”
Arable will continue to work with Fresh Innovations existing management team as the long-term investor and produce company work to expand operations, leveraging Arable’s deep operational and investing experience to grow Fresh Innovations’ business.
“We were attracted to Arable because of its commitment to innovation and growth,” explained Toby Cohen, Founder and President of Fresh Innovations. Cohen also noted that he and the other members of the management team were very impressed with Arable Capital’s longer-term investment approach. “We realized early in the process that Arable is a great fit with the Fresh Innovations people-centered culture.”
Alpine Pacific Capital also participated in the transaction as a minority investor.
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