Jun 09, 2015, 02:30 ET
NEW YORK, June 9, 2015 /PRNewswire/ -- Arlon Group ("Arlon"), a food and agriculture investment firm focused on investing in the Americas, announced that it has, in partnership with the existing management team, acquired The Coastal Companies ("Coastal"), based in Savage, Maryland. Coastal is a leading distributor and processor of fresh produce and dairy products in the Mid-Atlantic region of the United States. Coastal was founded as Coastal Sunbelt Produce in 1992 and operates a fleet of 175 trucks, delivering daily to over 2,000 customers across six East Coast states and the District of Columbia. Coastal is committed to food safety, quality, service, sustainability and staff development and has established itself as an industry leader.
Coastal's senior management team will continue to lead the business, with John Corso serving as President and CEO, Ross Foca as President of East Coast Fresh, Bob Lahmann as CFO and Larry Brown as Executive Vice President of Sales and Purchasing. As part of the investment, David Tanner, Chris Allen and Peter Webel from Arlon Group and Jay Pack, a long-time produce industry executive, have joined the Company's Board of Directors.
"We have grown because we take care of our customers, we take care of our people, and we invest in our business," said John Corso. "We are excited to be partnering with the team at Arlon. Arlon Group brings significant fresh food industry experience to our company. Their team shares our vision, our values and is committed to helping us grow."
Chris Allen, Principal at Arlon, added: "Coastal is the leading provider in its region, with a focus on high-quality products and excellent customer service. The company's high-caliber, dedicated management team, led by John, is thoughtful, driven and dedicated to growing and expanding the business. We look forward to partnering with the management team to capitalize on the numerous growth opportunities available to them."
About Arlon Group
Arlon Group is a food and agriculture investment firm with a global network that invests in middle-market businesses across the entire food supply chain in the Americas. Arlon's team brings extensive investment expertise and deep, local industry contacts as they seek to partner with growth-oriented businesses in the food and agriculture sectors. Arlon's investment professionals work collaboratively across geographies, and Arlon's portfolio companies benefit from the team's shared knowledge of regional and global trends. Arlon's investment focus comes from its founding investor, Continental Grain Company, a 200-year-old leader in the food and agriculture space. Rabobank, a leading bank to the global food, beverage and agribusiness industry, is another key Arlon investor. In Latin America, Arlon also works in partnership with VR Investments, a family owned Brazilian investment company with broad experience in Brazilian businesses. Arlon Group has approximately $980 million in assets under management and is headquartered in New York with an office in Sao Paulo, Brazil. For more information, visit www.arlongroup.com.
About The Coastal Companies
Founded in 1992, The Coastal Companies has emerged as a major distributor of fresh produce and dairy and is a leading regional processor of fruits and vegetables. Based in Baltimore/Washington, The Coastal Companies and its subsidiaries, Coastal Sunbelt Produce and East Coast Fresh, operate a fleet of 175 trucks and deliver daily to foodservice customers across six states and the District of Columbia. The company also serves major retail and wholesale customers along the East Coast.
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SOURCE Arlon Group
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