Hammond, Kennedy, Whitney & Co., Inc. (HKW), Indianapolis, Ind., acquired Fresh Direct Produce, LLC, a Canada-based distributor of fresh, ethnic, tropical, organic and specialty produce.
Fresh Direct Produce distributes 1,000-plus fruit and vegetable items to the Western Canadian market. Their services include ripening, grading, machine packaging and bagging.
“After an exhaustive search for the right fit, the team is thrilled to partner with HKW. We feel they are the best equipped to help us realize our future growth plans,” says Davis Yung, president, CEO and co-founder of Fresh Direct Produce. “HKW is a high-integrity team with extensive firm resources and experience growing businesses organically and through add-on acquisitions. We look forward to continuing to build our platform alongside an experienced Canadian investor in HKW.”
“Fresh Direct Produce is a great addition to HKW’s health and wellness business sector, and we are excited to partner with Davis and his team,” says John Carsello, partner at HKW.
“Since our first meeting with Fresh Direct Produce, we have been impressed with the team’s thoughtful execution of their strategic plan,” says Tom Shaw, vice president at HKW. “The business has grown from 11 employees and two trucks in 2003 to over 220 employees, a fleet of 26 trucks and three distribution facilities today, and it is well positioned for continued growth.”