Company Description
Performance Produce (the “Company”), is a leading value-add produce distribution and logistics business in the Southeastern United States. The Company provides a comprehensive offering of services, which includes distribution, packing, repacking, processing, freight management, inspection, and quality control. Each aspect of the Company’s services is tailored to meet the specific needs of national and regional grocery chains, as well as independent grocers. Founded in 2007 and headquartered in Salisbury, NC, Performance Produce has refined its procurement practices to provide the highest quality fruits and vegetables from high integrity farms, and has established a strong foothold throughout the Southeast.
Services Provided
MelCap Partners served as the exclusive investment banker and financial advisor to Performance Produce through the sale of the business. MelCap Partners would like to thank JR and Virginia Roach (the “Shareholders”) for hiring MelCap to represent them in this transaction. It was an honor and pleasure to work with the Company throughout this exciting process.
The Result
In an effort to provide the shareholders with liquidity and to continue to support the Company’s strategic growth plans, MelCap Partners was able to successfully identify the ideal buyer for the business. As a result, Performance Produce was sold to GrubMarket, Inc., headquartered in San Francisco, CA. GrubMarket is the fastest growing food tech/eCommerce company in the world, and operates in the U.S. and Canadian food supply chain, serving both businesses and consumers, as well as providing SAS solutions to digitally transform businesses throughout the food supply chain.
“The entire team at MelCap was great to work with. Their attention to detail was first class, and their ability to navigate through all aspects of the process was amazing, not only from the financial side, but also from the mental side. Selling a company is extremely stressful, but the MelCap team made it as easy as possible.”
