Bellevue, Wash.-based investment firm Arable Capital Partners and Alpine Pacific Capital have completed the sale of Fresh Innovations California to Peterson Farms.
Arable partnered with Alpine to acquire Fresh Innovations in March 2018 and the assets of Farmington Fresh in June 2018 to create the leading sliced apple provider to K-12 schools in the Western U.S., according to a news release.
The sale of Fresh Innovations to Peterson Farms will allow both companies to bolster their fresh-cut processing and distribution capabilities for customers throughout the U.S., the release said.
“We have enjoyed partnering with the Fresh Innovations team over the last five years and are now excited about this as the right opportunity for the company going forward,” Greg Richards, managing director of Arable Capital Partners, said in the release.
The sale marks the first exit by Arable since its formation in 2017.
“This combination of Fresh Innovations with Peterson Farms makes tremendous sense for both businesses and we are pleased we were able to execute this transaction for the Company,” Derek Yurosek, managing director of Arable Capital Partners, said in the release.
