INDIANAPOLIS--(BUSINESS WIRE)--Aug 6, 2019--
IF&P Foods (Indianapolis, IN) and Get Fresh Produce (Bartlett, IL) announce the creation of a new company, FreshEdge™.
FreshEdge is home to a collection of industry leading produce and specialty food distributors, freshcut operations and a USDA kitchen, including Piazza Produce, Get Fresh Produce, Indianapolis Fruit, Papania’s, Garden Cut, Just Cut and Cibus Fresh. The consolidated entity is one of the largest independently owned fresh food distributors in the country, serving over 2,000 customer locations across 18 states and distributing over 30 million cases of fresh produce, proteins, specialty processed produce, USDA certified grab-and-go offerings and specialty foods annually. Together, FreshEdge operates over 400,000 square feet of distribution and processing facilities with 1,200 employees and a fleet of over 500 trucks.
FreshEdge will be led by industry veterans, Steve Grinstead as Chief Executive Officer and IF&P Foods CEO, Greg Corsaro, as President and Chief Operating Officer.
Steve Grinstead has 40 years of experience in the food distribution industry, most recently as CEO of The Grinstead Group following eight years as CEO of Pro*Act. Prior to Pro*Act, Steve was COO of Standard Fruit and Vegetable and President of Fresh America, a produce distribution management company. Steve is active in industry-wide organizations, serving as Chairman of United Fresh Fruit and Vegetable Association and the United Fresh Foundation. A longtime member of the Produce Marketing Association, National Restaurant Association and the Food Marketing Institute.
“This is an amazing opportunity to join one of the leading fresh food distribution platforms in the country,” said Steve Grinstead, CEO of FreshEdge. “Through our broad Midwest and Southern distribution platform, unique meat and seafood vendor relationships and extensive specialty food offerings, the FreshEdge companies provide full-service fresh food options to all its customers. FreshEdge has also devoted significant resources to growing its selection of value-added products and services and can provide a wide array of pre-cut produce, prepared foods, and ready-to-eat products.”
Greg Corsaro has been in the produce industry for 27 years, most recently as the CEO of IF&P Foods, the parent company of Piazza Produce, Indianapolis Fruit, Papania’s, Garden Cut and Cibus Fresh. Prior to his produce career, Greg worked as a Certified Public Accountant for one of the Big Four public accounting firms and, later, in the private practice of law. He is an attorney and a CPA.
“Over the last several years, IF&P Foods has invested heavily in our management team, digital platform, warehouse facilities and logistics platform,” said Greg Corsaro, President and COO of FreshEdge. “With the acquisition of Get Fresh Produce, the combined platform can integrate our facilities and combine our offerings to provide the freshest and most complete suite of products to all of our customers.”
Backed by private equity firm Rotunda Capital, FreshEdge expects to continue to build on its platform and leverage its infrastructure investments with selective acquisitions of distributors in desirable geographic locations and product categories.
FreshEdge embodies a novel approach to fresh food distribution—combining leading regional produce distributors who can deliver tailored customer service with an extensive selection of fresh produce, proteins, fresh-cut produce, prepared foods and specialty items to meet the ever-changing consumer demand for fresh, local, innovative cuisine. The FreshEdge family of brands delivers freshness across its product portfolio to Midwest and Southern-based foodservice, retail and schools. For more information, visit www.freshedgefoods.com
● Piazza Produce – Indianapolis-based distributor of produce, fresh cut, and specialty foods to foodservice customers in Ohio, Kentucky, Illinois, Missouri, Tennessee and Michigan. Piazza is a PRO*ACT Managed Affiliate.
● Get Fresh Produce – Illinois-based distributor of produce, fresh cut, and specialty foods to foodservice customers in Illinois, Indiana and Wisconsin. Get Fresh is a member of Produce Alliance.
● Indianapolis Fruit – Indianapolis-based distributor of produce, fresh cut, and specialty foods to retail customers in 19 states in the Midwest and Southeast.
● Papania’s – Lexington-based distributor of produce, fresh cut, and specialty foods to foodservice customers in Kentucky.
● Garden Cut – Specialty produce processor located in Indianapolis with over 400 foodservice and retail fresh processed SKUs. Garden Cut operates in an SQF Level 2 certified facility.
● Just Cut – Specialty produce processor located in Illinois with over 100 foodservice and retail fresh processed SKUs. Just Cut operates in an SQF Level 2 certified facility.
● Cibus Fresh – State-of-the-art FDA and USDA certified fresh kitchen facility in Indianapolis offering a full line of meal kits, sandwiches, flatbreads, salads, wraps and snack plates.
About Rotunda Capital
Rotunda Capital Partners is a private equity firm that invests equity capital in established and profitable lower middle market companies. The firm uses a rigorous approach to identify market-leading companies with identifiable growth opportunities and capable management teams in targeted sectors, including distribution, logistics, specialty finance, and business services. Rotunda Capital partners with management to build data-driven growth platforms. Since 2009, Rotunda Capital has completed twelve platform investments and realized five exits. The partners of Rotunda Capital actively provide guidance and draw on deep industry and financial relationships to contribute to the successful execution of Rotunda’s companies’ strategic plans. For more, visit www.rotundacapital.com
View source version on businesswire.com:https://www.businesswire.com/news/home/20190806005583/en/
CONTACT: Steve Grinstead
Rotunda Capital Partners
KEYWORD: UNITED STATES NORTH AMERICA INDIANA
INDUSTRY KEYWORD: SUPPLY CHAIN MANAGEMENT MANUFACTURING SUPERMARKET FOOD/BEVERAGE TRANSPORT OTHER MANUFACTURING RETAIL LOGISTICS/SUPPLY CHAIN MANAGEMENT
SOURCE: Rotunda Capital Partners
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PUB: 08/06/2019 09:23 AM/DISC: 08/06/2019 09:23 AM