Rotunda Capital Partners, an operationally focused, lower middle-market private equity investment firm, is pleased to announce the sale of FreshEdge, LLC, a prominent fresh foods distributor, to Wind Point Partners, LLC.
Rotunda invested in FreshEdge in 2017 through its predecessor, the IF&P Foods family of companies, primarily composed of Indianapolis Fruit and Piazza Produce. FreshEdge was formed in 2019 through the combination of IF&P and Get Fresh Produce. Since its formation, FreshEdge has become one of the largest independent fresh food distributors in the United States and a category leader in providing both the foodservice and retail industries with fruit, vegetables, proteins, fresh-cut produce, fresh grab-n-go offerings, dairy, floral, and specialty products.
Since partnering with Rotunda, FreshEdge has achieved transformational growth. Through seven acquisitions and strategic operational investments, the Company has nearly quintupled in size to become a super-regional distributor serving 21 states out of 25 facilities that span approximately 795,000 square feet of warehouse space.
"The FreshEdge story is a great example of Rotunda partnering with a first-class management team to transform a family-owned company into a data-driven acquisition platform,” said Corey Whisner, partner at Rotunda.
Dan Lipson, partner at Rotunda added, “During our partnership, we invested to expand the Company’s leadership team, developed corporate infrastructure and systems, and assisted in the execution and integration of seven add-on acquisitions.”
Rohit Dhake, principal at Rotunda, continued: “We are extremely proud of what FreshEdge has become and believe they have an exciting future.”
Steve Grinstead, CEO, and Greg Corsaro, president, will continue to lead the business with the existing management team. Grinstead: "Through our partnership with Rotunda we have never strayed from our core value as a customer-obsessed distributor providing customized service to deliver the freshest product in market.”
“The Rotunda team provided us with the operational tools, distribution expertise and acquisition assistance to help the Company get to where it is today,” said Corsaro. “With this foundational support, we believe FreshEdge is well positioned for significant continued expansion.”
The Rotunda team included Corey Whisner, Dan Lipson, Rohit Dhake, Brian Kim, Nathan Bertsch and Pat Davidson. Harris Williams served as financial advisor, and Greenberg Traurig, LLP as legal counsel to FreshEdge.
For more information:
Rotunda Capital Partners
Tel.: +1 (847) 280-1295