FreshEdge, a family of fresh food distribution companies backed by Wind Point Partners, acquired Panama Banana, a wholesaler and distributor of produce in the Chicago International Produce Market. For nearly a century, Panama has built a solid reputation as a distributor of produce. Panama is housed in a state-of-the-art facility that offers ripening rooms, cold coolers, climate-controlled docks, produce packaging and repacking and logistical support.
“We are thrilled to welcome Todd and Deke Pappas and their team to the FreshEdge family,” said Steve Grinstead, CEO of FreshEdge. “With their same commitment to customer service, Panama will be a great addition to our growing group of distributors.”
Terms of the deal, which closed on May 21, 2023, were not disclosed.
“Our team is thrilled to join FreshEdge,” said Todd Pappas, president of Panama. “This is the next step in increasing our footprint, serving customers with expanded offerings and growing for our future.”
“We are excited about this great opportunity,” said Deke Pappas, COO of Panama. “We look forward to continuing to provide the same level of service to our customers and are happy to share that Nick Florek will continue his leadership as VP/general manager.”
FreshEdge now operates 979,800 square feet of warehouse space across 27 facilities with a fleet of more than 947 trucks and more than 2,000 employees.