PNC Riverarch Capital has acquired Fresh Direct Produce (FDP). Headquartered in Vancouver, FDP is one of the leading fresh produce distributors in Canada, with six locations across British Columbia, Alberta, and Ontario. Its diverse and growing offering of over 5,000 SKUs includes a broad selection of import, specialty, and organic products in addition to a comprehensive conventional produce offering. FDP sources products from an extensive network of growers in 35 countries across 6 continents, and their value-added services include ripening, grading, processing, machine packaging, and bagging.
“We are thrilled to partner with PNC Riverarch to support FDP through its next chapter of growth,” commented Davis Yung, CEO of FDP. “We were looking for a partner who aligned with our strategic vision and could further accelerate our expansion through continued M&A. PNC Riverarch has a successful track record of helping companies like us to execute on both organic and inorganic growth initiatives, as well as the expertise to help us strengthen our operational infrastructure and scalability to support future growth.”
PNC Riverarch is a middle-market private equity firm that invests in privately held companies in North America and Europe. The firm seeks well-positioned companies where it can invest in support of leveraged and management buyouts, corporate divestitures, and growth financings.