Investor group buys fresh-cut apple business

Arable Capital Partners has acquired fresh-cut apple company Fresh Innovations California.

Fresh Innovations, Oxnard, Calif., supplies retailers (including convenience and club stores), school and other institutional foodservice operators, including hospitals. Retail packs carry the Prize Slice brand. The company also has fresh-cut vegetables, according to a news release.

“We were attracted to Arable because of its commitment to innovation and growth,” Toby Cohen, founder and president of Fresh Innovations. “ … We realized early in the process that Arable is a great fit with the Fresh Innovations people-centered culture.”

Fresh Innovations has offered sliced apple products since 2001, according to the release, and the company also processes vegetable snack packs. Products are available in bulk for foodservice and Fresh Innovations markets organic fresh-cut apples as well.

Arable, with offices in Bakersfield, Calif., and Bellevue, Wash., invests in food and agriculture companies.

“Fresh aligns well with the Arable investment thesis in midstream agribusiness,” Greg Richards, managing director of Arable Capital Partners, said in the release. “As one of our first investments, this is a great partnership that will allow Fresh Innovations and Arable to capitalize on a successful existing business positioned for expansion.”

The release calls Arable’s involvement as a long-term investor.