Arlon Group, the food and agriculture private equity firm, has acquired The Coastal Companies, a distributor and processor of fresh produce and dairy products in the mid-Atlantic region of the US.
The firm acquired Coastal from private equity peer MSouth Equity Partners with its $335 million North America fund.
As part of the investment, David Tanner, Chris Allen and Peter Webel from Arlon’s North American team and Jay Pack, a long-time producer industry executive, joined Coastal’s board of directors. Coastal’s chief executive John Corso will continue his term, according to the press release.
“We have grown because we take care of our customers, we take care of our people, and we invest in our business,” Corso said in a statement. “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.”
Arlon last year led a $25 million Series B round for Door to Door Organic, now a portfolio company of the firm.
The firm also has a $400 million Latin America-focused fund set to launch later this year.