Red Arts Capital says it has acquired Freshway Foods, a supplier of fresh-cut processing, repacking, transportation and logistics services, operating in the Eastern U.S.
With experience and expertise in the food and beverage industries, Red Arts will offer Freshway strategic, financial and organizational support and ultimately enhance the company’s ability to serve its customer base, according to a news release.
“Freshway has an incredible history, with origins dating back to 1895. Given Red Arts’ focus on family-owned businesses, we were drawn to the company’s compelling story, as well as their unique place in the market,” said Nick Antoine, co-founder, co-CEO and managing partner for Red Arts. “With existing synergies between Freshway’s operating procedures and Red Arts’ experience across the food industry, it made immediate sense for us to join forces and support their growth journey.”
Freshway will continue to be led by Devon Beer, the company’s current president, the release said. Beer has been with Freshway since 2000, holding key positions throughout his tenure, including chief financial officer. Under his guidance, Freshway has experienced significant growth and established a prominent presence within the industry, the company said.
“I’m excited to work with Red Arts, who are well-known and respected across the industry,” Beer said. “Together, along with the incredible team that we have spent years building internally, I know that we will continue to lead the industry in innovation and service.”
Red Arts acquired Freshway from food supplier and distributor US Foods.
“We are grateful to the US Foods team for their professionalism and collaboration throughout this process,” said Chris Hull, principal for Red Arts. “Their support ensured a smooth transition, allowing us to focus on continuing Freshway’s legacy of exceptional service and operational excellence.”
