Add-on Acquisition • Distribution

FreshEdge Acquires Panama

On May 23, 2023, FreshEdge acquired distribution company Panama

Acquisition Context

This is FreshEdge’s 3rd transaction in the Distribution sector.
This is FreshEdge’s 4th transaction in the United States.
This is FreshEdge’s 3rd transaction in Illinois.

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M&A Deal Summary
Date	May 23, 2023
Target	Panama
Sector	Distribution
Buyer(s)	FreshEdge
Deal Type	Add-on Acquisition

Target Company

Panama

Chicago, Illinois, United States

Panama is a wholesaler and distributor of fine products in the Chicago International Produce Market. The company offers ripening rooms, cold coolers, climate-control docks that maintain the cold chain throughout the entire process of unloading and reloading, producing packaging and repacking with plastic-free clipped bags, and logistics. Panama was formed in 1925 and is based in Chicago, Illinois.

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Buyer Overview 1

Buyer

FreshEdge

Indianapolis, Indiana, United States

Category	Company
Sector	Distribution

DESCRIPTION

FreshEdge is a produce distributor in the Midwest. FreshEdge provides fresh and packaged produce varieties, as well as partially prepared meal components, to a variety of customer types including grocery stores, restaurants, schools, and food management companies. FreshEdge is based in Indianapolis, Indiana.

Deal Context for Buyer	#
Overall	4 of 4
Sector: Distribution	3 of 3
Type: Add-on Acquisition	4 of 4
State: Illinois	3 of 3
Country: United States	4 of 4
Year: 2023	2 of 2

PREVIOUS DEAL

DATE	TARGET	DEAL TYPE	VALUE
2023-05-02	Testa Produce Chicago, Illinois, United States Testa Produce is a producer and specialty food distribution business that operates out of a state-of-the-art 91,300 square foot facility that features green technologies to utilize energy generation and water conservation. Testa Produce is based in Chicago, Illinois.	Buy	-

DATE

TARGET

DEAL TYPE

VALUE

2023-05-02

Testa Produce

Chicago, Illinois, United States

Testa Produce is a producer and specialty food distribution business that operates out of a state-of-the-art 91,300 square foot facility that features green technologies to utilize energy generation and water conservation. Testa Produce is based in Chicago, Illinois.

Buy

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