Legacy Farms set for growth following investment by Silver Oak
Legacy Farms set for growth following investment by Silver Oak
Legacy Farms, a fresh vegetable and fruit grower, shipper and wholesaler to grocers and foodservice providers in the western United States, has partnered with Silver Oak Services Partners LLC on a recapitalization of the company.
“We’re at an exciting point in Legacy Farms’ evolution, and we realized that a value-added partner with additional capital resources could help us execute on our growth strategy,” Wally Sinner, chief executive officer of Legacy, said in a press release. “Silver Oak’s distribution experience and track record of executing growth strategies alongside their management partners made them logical partners for us. We look forward to working with them as we focus on expanding our capacity, making additional investments in our business and executing add-on acquisitions.”
The release said Silver Oak, based in Evanston, IL, was attracted to the produce sector given the highly perishable nature of the product, the recurring demand from customers, and the recession-resistant nature of the sector.
“Legacy is well known in the industry for its customer service, product quality and reliability, and we’re excited to partner with such an experienced management team,” said Greg Barr, managing partner at Silver Oak. “We believe there are many organic and acquisition growth opportunities for the business, and we look forward to building upon Legacy’s impressive historical track record.”
Silver Oak invests in business, consumer and healthcare services companies in the lower middle market, typically with EBITDA of $4 million to $20 million.
Legacy, headquartered in Buena Park, CA, specializes in dry vegetables while also offering a wide selection of fresh fruits. It operates from a 100,000-square-foot distribution center.