Andrew Smith Co. purchases 50 percent interest in Colorful Harvest
Andrew Smith Co. purchases 50 percent interest in Colorful Harvest
Colorful Harvest LLC, a grower and marketer of premium-quality fresh strawberries, blueberries, blackberries, and unique vegetables known for unique colors and flavors, announced that founding members Doug Ranno, Tom Remick, David Knudsen and Art Davis, who jointly owned 60 percent of the company, have sold their shares to the Andrew Smith Co. and the remaining Colorful Harvest founding member, Jeffrey Sholl, giving each a 50 percent interest in the Salinas, CA-based company.
"The new partnership will take advantage of many unique business synergies and complementary growing regions, and will provide capital for long-term growth to help carry on the mission of Colorful Harvest for years to come," Ranno, who will remain as chief operating officer of Colorful Harvest, said in a press release.
The Andrew Smith Co. is a grower-shipper of bulk produce. Based in Salinas, it also has operations in Mexico and Florida. Colorful Harvest and the Andrew Smith Co. will continue operations out of their respective office locations in Salinas.
"Colorful Harvest has an established colorful vegetable program and year-round berry programs in the United States and Mexico, plus a very well respected brand presence in retail and foodservice," said Steffanie Smith of the Andrew Smith Co., who will assume the position of chief executive officer of Colorful Harvest. "We are excited about the many synergies of this new partnership and I look forward to my new role at Colorful Harvest."
In addition to being a founding member of Colorful Harvest, Sholl is CEO of Potandon Produce LLC and The Vista Institute, and is currently a partner with Andy Smith and Steffanie Smith in California Sprouts LLC.
"With the acquisition, Colorful Harvest will continue to provide consumers with colorful and nutritious fresh produce, while expanded research capabilities in seed breeding, product development and marketing expertise will ensure Colorful Harvest maintains a leading position as innovator in colorful heirloom style vegetables and fresh berries," Sholl said in the press release.