US private-equity firm Paine & Partners has acquired fruit processor SGF Produce Holdings from another buy-out group Sun Capital Partners.

Paine said today (22 March) the deal, made for an undisclosed sum, offers opportunities to enhance the company’s product offerings, including expanding into new fruit categories and markets. Sunrise president and CEO Edward Haft will continue to lead the company in the same role.

Sunrise is a leading value-added fruit processor and marketer based in California. It operates facilities in Oxnard and Santa Maria. Its products include frozen strawberries, blueberries and blackberries. These are sold primarily under private-label brands in the US, as well as the Sunrise Growers brand name.

“We are excited about our investment in Sunrise, a leader in the retail and foodservice frozen fruit markets,” said Kevin Schwartz, founding partner of Paine & Partners. “We have been impressed by the company’s capabilities and the strong strategic relationships it has with its grower and customer partners.”

Haft said the company will continue to develop and expand the business under the new ownership.

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By GlobalData