Total Produce Acquires Majority Stake In Californian Produce Company
Leading fresh-produce company Total Produce has announced that it has acquired a 65-per-cent stake in Progressive Produce, headquartered in Los Angeles, California.
Progressive Produce is a grower, packer and distributor of conventional and organic produce to the retail, wholesale and foodservice sectors in the US and Canada, offering a wide range of fresh, domestic, local and imported produce. It specialises in the year-round supply of potatoes, onions, asparagus, organics and other fresh fruits and vegetables.
The company is one of California's premier produce companies, with 2015 sales in excess of $200 million.
Commenting on the transaction, Carl McCann, chairman of Total Produce, said, "We are delighted to become co-owners in Progressive Produce. This transaction with a leading Californian produce company further broadens our US operations and is in line with our strategy. We look forward to working with the excellent people in Progressive Produce as it continues to develop its very successful business expansion in future years."
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