US – South Mill Champs (SMC), a US-based mushroom cultivator and supplier, has acquired World Fresh Produce, a fresh fruit grower and sourcing business in New Jersey to expand its business.
World Fresh Produce, set up in 2018 by Michel Matouk, supplies citrus fruits, pears, apples, and kiwifruit grown on its own farms and also sourced overseas from Asia, Latin America, Africa, and Europe.
SMC said in a statement that the acquired company’s offshore, direct-from-grower, supply relationships create value chains where customers obtain efficient and consistent supply, and growers gain access to key markets in North America.
Michael Richmond, vice president of sales at SMC, added: “World Fresh Produce’s dedication to quality, innovation, and customer satisfaction aligns seamlessly with our goals and values at South Mill Champs.”
The farming company has mushroom cultivation and processing operations in British Columbia, Manitoba, Pennsylvania, and Maryland.
It has distribution facilities across the US located in states including California, Texas, and Georgia, as well as at its base in Kennett Square in Pennsylvania.
It supplies the retail, food service, and wholesale channels, and serves mushroom processing customers.
Matouk, who will become SMC’s vice president of global sourcing, said: “With World Fresh Produce now part of the South Mill Champs family, we are even better positioned to meet the diverse needs of customers across North America.
“The addition of World Fresh Produce to the South Mill Champs group of companies enhances the reach of World Fresh Produce through South Mill Champs’ existing network of distribution and repacking cold chain facilities strategically located across North America.”
SMC expanded in the mushroom market in 2021 with the acquisition of The Mushroom Company, which operates a processing facility in Cambridge, Maryland.
As it stands today, the group was formed in 2017 after South Mill of Pennsylvania merged with Canadian firm Champ’s Mushrooms.
The company’s expansion into the fruits business offers lucrative growth prospects to their business as the sector Is currently thriving in the US.
According to a report by Grand View Research, the fresh fruits & vegetables segment dominated the U.S. fruits & vegetables market with a share of 80.9% in 2022.
This is attributable to the high consumption of fresh fruits & vegetables owing to the growing inclination of consumers towards a healthy diet and lifestyle.
The report also states that the U.S. fruit and vegetables market size was valued at USD 92.88 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 4.1% from 2023 to 2030.
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