Native Maine Produce & Specialty Foods, a portfolio company of RLJ Equity Partners and SJ Partners since January 2017, has acquired the wholesale operations of Golden Harvest, one of Southern Maine’s leading retail produce markets.
Native Maine is one of the largest independent fresh foodservice distributors in Maine. The company distributes more than 3,000 products, including fruits and vegetables, dairy, cheese, meats, and seafood, to more than 1,500 customers located in Maine, New Hampshire and Massachusetts. Native Maine is headquartered in the Portland suburb of Westbrook, ME (www.nativeme.com).
Jim and Carla Spencer, the owners of Kittery, ME-based Maine Golden Harvest, decided to sell their wholesale division to Native Maine to allow them to focus on managing and growing their retail business. “Our wholesale business has grown substantially over the years, and we now deliver to hundreds of accounts all over the seacoast. Our wholesale division has taken on a life of its own and will benefit from the full-time attention and even deeper product selection Native Maine can provide,” said the Spencers in a released statement.
“Native Maine is a leader in its sector and we are pleased to add the wholesale operations of Golden Harvest to Native Maine’s customer portfolio and support Native Maine’s future growth,” said Jerry Johnson, a partner of RLJ Equity.
About RLJ Equity Partners: RLJ Equity Partners invests from $15 million to $30 million in companies valued between $50 million and $250 million. Target companies will have operating profits greater than $7 million and operating margins greater than 10%. Sectors of interest include aerospace & defense; auto & transportation; business services; consumer retail; general industrial; and media & telecom. RLJ Equity Partners was founded in 2006 by Robert Johnson in partnership with The Carlyle Group. The firm is headquartered in Bethesda, MD (www.rljequitypartners.com).
About SJ Partners: SJ Partners invests in companies with EBITDA of $2 million to $10 million and revenues of $10 million to $200 million. Sectors of interest include consumer products companies (personal care, food, and sporting goods) and service companies (business, information, aerospace and government). SJ Partners was founded by Scott Johnson in 2001 and is based in New York (www.sjpartners.com).