Cross Rapids Capital Acquires Wholesale Produce Supply LLC

WPS Fresh Acquires Assets of G.O. Fresh

February 1, 2024

Food & Beverage

Wholesale Produce Supply LLC (WPS Fresh), a portfolio company of Cross Rapids Capital LP, has acquired the assets of G.O. Corporation I (operating as G.O. Fresh), a fresh-cut produce processor. The transaction expands WPS Fresh's fresh-cut capacity and product offerings to better serve foodservice distributors in the Upper Midwest; owner Marylou Owen will remain through a transition period.

Cross Rapids Capital Recapitalizes PAK Quality Foods (including FrigiServe)

January 2, 2024

Food & Beverage

An affiliate of Cross Rapids Capital completed an equity recapitalization of PAK Quality Foods, LLC (which includes D Bar Cold Storage d/b/a FrigiServe). The transaction brings in Cross Rapids' capital and resources to support growth and expansion; John Pieper was appointed CEO while founders Gary and Patty Stokes remain significant shareholders. Debt for the recapitalization was provided by Maranon Capital L.P. and Manulife Investment Management.

Ridgemont Equity Partners Recapitalizes Worldwide Produce

January 24, 2023

Food & Beverage

Ridgemont Equity Partners recapitalized Worldwide Produce, a leading distributor of fresh produce, dairy and specialty foods across the western United States, with existing sponsor Sole Source Capital retaining a meaningful minority stake. The transaction provides capital for organic growth and M&A to build a super-regional specialty food distribution platform; financing was provided by a group of credit providers led by Ares and others. Financial terms were not disclosed.

Wholesale Produce Supply Acquires Bandwagon Brokerage

January 4, 2023

Food & Beverage

Wholesale Produce Supply LLC, a Cross Rapids Capital portfolio company, has acquired Bandwagon Brokerage LLC, a specialty produce distributor based in Vernon, California. The deal adds Bandwagon’s specialty fruits, vegetables and cold-chain capabilities to WPS’s core produce programs to broaden product offerings and customer reach across the U.S. and international markets.

Sole Source Capital Acquires Worldwide Produce

October 25, 2019

Food & Beverage

Sole Source Capital LLC acquired a majority interest in Worldwide Produce, a leading distributor of fresh produce, dairy and specialty foods serving Southern California and Nevada. Sole Source plans to use Worldwide Produce as a platform for regional consolidation and to invest in the company’s technology and geographic expansion; transaction terms were not disclosed.

Incline Equity Partners Recapitalizes Wholesale Supplies Plus

July 16, 2019

E-Commerce

Pittsburgh-based private equity firm Incline Equity Partners has partnered with management to recapitalize Wholesale Supplies Plus (WSP), a distributor of raw materials and supplies for soap, cosmetics and candle makers. The investment will support capacity expansion, new product introductions and pursue acquisitions to accelerate growth.