I Love Produce of West Grove, Pennsylvania, marketers of garlic, ginger and shallots, announces a partnership with Promise Holdings, a Chicago-based holding company specializing in the food industry, whose companies include Hickory Farms, Annabelle Candy Company, Catalina Finer Foods, Uncle John’s Pride Sausages and Pear’s Snacks.
“Investing in I Love Produce is our first foray into the produce side of the industry”, said Gordon Liao and Jacqueline Brooks, co-owners of Promise Holdings. “It is an exciting opportunity, but more importantly, our core values line up with the I Love Produce team and the longstanding family culture that Jim, Neil and Eric have built. We look forward to working with the team to grow the business over the long term.”
Neil Millman and Jim Provost, founders of I Love Produce, have rewarded Eric Frasse, VP of sales, with an ownership stake in the business. “Eric has been fighting the battles for us since he started with us 12 years ago”, Provost said. “His track record of success and deep industry knowledge will help us and he has earned a stake in the next phase of our business growth as a partner.”
“Our new partnership sets us up for the next generation and assures the future for our team of dedicated co-workers, our supplier/vendor partners and our customer partners,” said Millman. “We are excited about the new products and ideas that have already been emerging during our meetings.”
Promise Holding’s new investment will help I Love Produce with advances in technology, equipment and marketing that will increase efficiencies and add value to customer relationships. I Love Produce’s current senior management team will continue to manage and run the operations.