FreshEdge sold to Chicago’s Wind Point Partners
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Indianapolis-based fresh food distributor FreshEdge LLC has been sold to Wind Point Partners LLC in Chicago. While financial terms of the deal were not disclosed, Illinois-based private equity firm Rotunda Capital Partners says FreshEdge has achieved transformational growth under its ownership.
FreshEdge Chief Executive Officer Steve Grinstead and President Greg Corsaro are expected to continue to lead the business with the existing management.
“During our partnership, we invested to expand the Company’s leadership team, developed corporate infrastructure and systems, and assisted in the execution and integration of seven add-on acquisitions,” said Dan Lipson, partner at Rotunda.
Rotunda purchased FreshEdge in 2017 through the IF&P Foods family of companies. During Rotunda’s ownership, the firm says FreshEdge nearly quintupled in size to become a super-regional distributor serving 21 states out of 25 facilities throughout the Midwest and southeast United States.
“The FreshEdge story is a great example of Rotunda partnering with a first-class management team to transform a family-owned company into a data-driven acquisition platform,” said Corey Whisner, partner at Rotunda.
The company made seven acquisitions, as well as strategic operational investments, during Rotunda’s ownership. Earlier this year, FreshEdge acquired City Produce in Florida, strengthening its presence in Florida and southern Alabama.