Sole Source Capital LLC, an industrial-focused private equity firm, has announced that its portfolio company, Worldwide Produce, one of the largest fresh produce and dairy distributors on the West Coast, has acquired Valley Food Services, a premier foodservice distributor of fresh produce and dairy serving the Coachella Valley market.
The acquisition of Valley strengthens Worldwide Produce’s presence in the Coachella Valley and marks the company’s second acquisition in the past three months. This is also the fourth completed acquisition for Worldwide Produce since it became a Sole Source Capital portfolio company in 2019. Terms of the transaction were not disclosed.
Established in 2001 and headquartered in Banning, CA, Valley Food Service sells primarily to the foodservice end market. The company offers a full suite of fresh produce and dairy products, including avocados, leaf lettuce, tomatoes, and citrus.
“Valley Food Services allows Worldwide to continue to expand into one of the region’s premier luxury destinations, the Coachella Valley,” said Todd Ferguson, CEO of Worldwide Produce. “Worldwide’s operational and product sourcing expertise, combined with Valley’s physical proximity to and focus on the Coachella Valley, will allow both companies to continue to provide unparalleled service for our customers.”
“We are excited to join one of the largest independent foodservice distributors in Southern California,” said Martin Parra, founder of Valley Food Services. “Valley will no doubt benefit from Worldwide’s scale, focus on operational excellence, and grower relationships. We look forward to continuing to provide quality products at excellent prices to the desert communities we have served for the past 20+ years.”
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