Calavo to buy Renaissance Food Group
May 26, 2011
by Eric Schroeder
SANTA PAULA, CALIF. — Avocado marketer Calavo Growers, Inc. has signed an agreement to acquire Renaissance Food Group, L.L.C., Rancho Cordova, Calif. Renaissance Food operates six processing facilities throughout the United States and produces, markets and distributes a range of products for produce, deli, meat and food service departments. The company’s products include fresh cut fruits, ready-to-eat vegetables, grab-and-go salads, snacks, deli-style sandwiches, wraps and party trays.
Calavo said Renaissance Food’s fiscal 2011 revenues are expected to exceed $100 million.
“Our acquisition of Renaissance Food Group and its outstanding Garden Highway brand represents a transformational step forward for Calavo,” said Lee E. Cole, chairman, president and chief executive officer of Calavo. “R.F.G. will be a key growth driver of our company’s expansion in the fresh refrigerated packaged goods category in both the retail produce and deli departments.”
Mr. Lee added that Garden Highway’s national processing and infrastructure, which produces fresh cut fruits and vegetables, provides an “ideal platform for accelerated growth in Calavo’s current product lines, continued product development in the Garden Highways line, as well as numerous further expansion opportunities as Calavo continues to evolve in coming years.”
Founded in 1924, Calavo markets and distributes prepared avocado and other food products, including refrigerated fresh salsa and guacamole hummus.