C H Robinson acquires three companies
Feb 18, 2005 8:55 AM, from staff and wire reports
Eden Prairie MN-based third-party logistics firm C H Robinson Worldwide Inc has acquired the operations and certain assets of three produce sourcing and marketing companies, FoodSource Inc, FoodSource Procurement LLC, and Epic Roots Inc. These three companies combined had gross revenues of about $270 million in 2004.
Based in Monterey CA, the Foosdsource companies provide produce sourcing and distribution services. The FoodSource entities have approximately 260 customers, including large retail grocery chains, retail grocery wholesalers, mid-range supermarkets, specialty food chains, and foodservice distributors. Terms of the acquisition were not disclosed.
The FoodSource entities were established in 1998 by Tom Minnich and Ray Griffin. Minnich served as chairman and chief executive officer of these companies and will continue with C H Robinson. The FoodSource entities have 52 employees, all of whom are expected to be offered employment with C H Robinson.
Epic Roots was established in 1997 by Todd Koons. Based in Monterey, Epic Roots provides produce sales and product development services and is a key partner of FoodSource. Koons will continue with C H Robinson after the acquisition. Terms of this transaction were not disclosed.
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