Strategic Acquisition Combines Two Complementary Brands to Provide Enhanced Service to Southern California Customers
Transaction Positions Investcorp-owned Sunrise Produce as Largest Produce Distributor in the San Diego Area and One of the Leading Produce Distributors in Southern California
FULLERTON, Calif.–(BUSINESS WIRE)–Sunrise Produce (“Sunrise,” or “the Company”), a leading wholesale produce distribution company based in Southern California, today announced its acquisition of Moceri Produce (“Moceri”), a leading specialty produce distributor based in San Diego. This strategic acquisition expands Sunrise’s local footprint in San Diego to become the city’s largest produce distributor and one of the leading produce distributors in Southern California. Terms of the transaction were not disclosed.
Moving forward with Moceri under the Sunrise banner, this transaction combines complementary brands which will enhance the exceptional customer service and highest quality products each brand is known for. Moceri will continue to operate in San Diego but will now have new, added support from Sunrise to continue providing the best quality and service in the region. David Sapia will continue as President and CEO of Sunrise, and John and Dominic Moceri, Co-owners of Moceri, will continue to drive the San Diego operations and join Sunrise’s executive leadership team.
“We are very pleased to acquire Moceri whose business and culture we have always admired,” said David Sapia, President and CEO of Sunrise. “We are complementary brands, and our combined relationships and sourcing networks position us to deliver the best customer experience in the produce industry. To the greater benefit of customers, this acquisition grants wider access to both brand’s sourcing, vendor relationships and distribution assets, which enables Sunrise to capitalize on Moceri’s robust distribution network and San Diego distribution center.”
“Sunrise and Moceri share a passion for the produce industry and our loyal customers,” said John Moceri. “A partnership through this transaction makes sense for both of our customer bases. We look forward to working with one of Southern California’s best in the produce distribution space and to continuing to drive our business forward.”
“With a long and successful history, this combination is the logical next step for Moceri as we enter this next chapter of growth with Sunrise. We are excited for all of us to be working together as today’s milestone will undoubtedly provide increased density for Sunrise in the San Diego area and help both organizations to continue to serve our customers with the quality they love and expect from us,” added Dominic Moceri.
Moceri Produce traces its roots back to 1983 and has developed a strong reputation as San Diego’s premier produce company. Owned by the Moceri family since its inception, the company has become deeply engrained into the San Diego community’s fabric. Similar to Sunrise, Moceri’s success is predicated on its passion for delivering the highest quality products with exceptional customer service. Moceri sources its products globally from a diversified supplier base to meet customer needs throughout the San Diego metropolitan area.
“This acquisition is a great opportunity for Sunrise as we continue on our strategic growth plan,” added Mr. Sapia. “San Diego is a fantastic opportunity for growth and Moceri provides a wonderful complement to our business efforts in the area. Today’s announcement is the first of much more to come, and we look forward to further building our brand and the exciting future ahead with the support, expertise and capital from our strategic partners at Investcorp.”
In 2022, Investcorp, a leading global alternative investment firm, announced its acquisition of a majority stake in Sunrise Produce and continues to maintain its stake in the Company.
About Sunrise Produce
Sunrise Produce is recognized as a leading wholesale produce distribution company in Southern California, providing customers across the specialty and white tablecloth restaurant and resort, education, healthcare and retail sectors with the freshest produce and perishable foods available. For more than three decades, Sunrise Produce has fostered lasting relationships with the most reputable growers in the industry, ranging from wholesale commodity growers, organic growers, and local family farmers supporting local sustainable growth. Through deep industry knowledge, a passionate work ethic and customized approach, Sunrise Produce delivers a diversified product offering with the strongest levels of quality, service and value to its customers. For more information, visit https://sunriseproduce.com/wp/.
About Investcorp
Investcorp is a global investment manager specializing in alternative investments across four asset classes: Private Equity (Mid-Market Buyouts, Growth Investments, and GP Staking), Real Assets (Infrastructure and Real Estate), Credit (CLOs, Broadly Syndicated Loans & Structured Credit, and Middle-Market Direct Lending), and Liquid Strategies (Absolute Return Investments and Insurance Asset Management).
Since our inception in 1982, we have focused on generating attractive returns for our clients and seeking to create long-term value in our portfolio companies by adopting a disciplined investment process, employing talented professionals, and utilizing the resources of a global institution with an innovative approach.
We invest capital in our products and strategies, aligning interests with our clients and other stakeholders. We pursue sustainable value creation through our investments and in the communities in which we operate and take pride in partnering with clients to deliver tailored solutions for their needs.
Today, Investcorp manages $52 billion in assets, including assets managed by third party managers. Investcorp has 14 offices in the US, Europe, GCC and Asia, including, India, China, Japan and Singapore and employs approximately 500 people from 50 nationalities globally.
For further information, visit http://www.investcorp.com/ and follow us @Investcorp on LinkedIn, Twitter and Instagram.
Contacts
Media Contacts:
Sunrise Produce
SunriseProducePR@icrinc.com
Investcorp
InvestcorpPR@icrinc.com
