Joshua Green Acquires Harris Soup Co.
Seattle-based investment company Joshua Green Corp. acquired Harris Soup Co., Portland, Ore., through its food-focused subsidiary, JGC Foods LLC. Doing business as Harry’s Fresh Foods, Harris Soup manufactures premium refrigerated soups, entrées, sides and desserts packaged in retail-ready, grab-and-go containers.
“The purchase of Harry’s Fresh Foods is indicative of our desire to acquire long-term investment opportunities in stable industries with excellent growth potential,” says Stan McCammon, president and CEO of Joshua Green Corp.
This acquisition broadens Joshua Green’s holdings within the food industry, which also includes Cuizina Food Co., a Woodinville, Wash.-based manufacturer of bulk frozen soups and sauces.
“Cuizina and Harry’s have very complementary operations enabling JGC Foods to become a single-source provider to customers as it relates to fresh or frozen foods,” says Jamie Colbourne, chief executive officer of JGC Foods and Cuizina. “We feel very bullish about the prepared food market, and look forward to continuing our expansion in this sector.”
“During this process, we have been impressed by the quality of Harry’s team and its focus on delivering the quality products and customer service for which Harry’s is known,” adds McCammon. “Joshua Green is about investing in people and empowering their success, and we believe we have found fertile ground for this in our new endeavor.”
As part of the transaction, Colbourne will also make an investment and serve on the company’s board of directors, while Tony Muscato, chief executive officer of Harry’s, is retiring from his position. The combined companies will employ more than 450 people. No layoffs are anticipated by either company. Terms of the transaction were not disclosed.