DALLAS–(BUSINESS WIRE)–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, 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.
Headquartered in San Marcos, CA, and established in 2017, Left Coast is a specialty food distributor offering a full suite of perishable and non-perishable goods primarily to foodservice companies.
“Left Coast has made a strong impression on its customer base in the region surrounding San Diego, a highly attractive area in which we have operated for years. We are excited to further expands Worldwide’s presence there,” said Todd Ferguson, CEO of Worldwide Produce. “Worldwide’s operational and product sourcing expertise, combined with Left Coast’s dedicated focus to the San Diego region, will allow both companies to continue to provide the highest level of product and service to our customers.”
“Worldwide Produce is an ideal partner to support the continued growth of Left Coast Food Company,” said Guy Roney, President of Left Coast. “By joining Worldwide, Left Coast will benefit from Worldwide’s expansive product catalog and supplier relationships to offer more choices to customers to meet their diverse food needs.”
About Sole Source Capital
Founded in 2016 by David Fredston, Sole Source Capital is a private equity firm that thematically invests in fragmented, high-growth industrial subsectors. Sole Source seeks founder-owned businesses or corporate carve-outs that will benefit from the team’s operating and M&A capabilities. The Firm has a strong operating heritage that enables it to execute a buy-and-build strategy with significant downside protection. The Firm is headquartered in Dallas, Texas with offices in Santa Monica, California. For more information, please visit www.solesourcecapital.com or contact [email protected].
About Worldwide Produce
Worldwide Produce is a leading distributor of fresh fruits, vegetables, dairy products, and specialty foods to foodservice and retail customers across the Western United States. The company operates out of six distribution facilities located in Los Angeles, CA, Las Vegas, NV, Santa Clara, CA, Banning, CA, San Diego, CA and Phoenix, AZ and stocks roughly 6,000 SKUs. Worldwide Produce was founded in 1989 and has rapidly grown its revenue base due to its high-quality produce, superior service levels, dependable sales team, and high-quality leadership. For more information, please visit www.wwproduce.com.
About Left Coast Food Company
Founded in 2017, Left Coast Food Company is a distributor of produce, dry goods and frozen goods to the greater San Diego region. The Company sells primarily into the foodservice end market. For more information, please www.leftcoastfoodco.com.