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Sole Source Capital Portfolio Company Worldwide Produce Acquires Left Coast Food Company

Oct 26, 2022about 3 years ago

Acquiring Company

Worldwide Produce

Acquired Company

Left Coast Food Company

GroceryFood And BeverageAgriculture and Farming

Description

Sole Source Capital LLC, an industrial-focused private equity firm, today announced that its portfolio company, Worldwide Produce, one of the largest fresh produce and dairy distributors on the West Coast, has acquired Left Coast Food Company (“Left Coast”), a premier foodservice distributor of frozen goods, dry goods and produce serving the greater San Diego region. The acquisition of Left Coast expands Worldwide Produce’s presence in Southern California and marks the company’s fifth completed acquisition since it became a Sole Source Capital portfolio company in 2019. Terms of the transaction were not disclosed.

Company Information

Company

Worldwide Produce

About

Worldwide Produce is a leading distributor of fresh fruits, vegetables, dairy products, and specialty foods to independent and chain restaurants across the Western United States. The company operates out of three distribution facilities located in Los Angeles, CA, Las Vegas, NV and San Diego, CA and stocks roughly 5,000 SKUs. Worldwide Produce was founded in 1989 and has rapidly grown its revenue base due to its high-quality produce, superior service levels, strong sales staff, and high-quality leadership. For more information, please visit www.wwproduce.com.

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed