FRP advises on Ripe Now split and sale

FRP has announced that it has advised the shareholders of Lincolnshire-based tropical fruit supplier, Ripe Now, on the split and subsequent sale of its logistics and fruit import arms.

Ripe Now’s logistics and packing division was sold to Pacific Produce – part of the Peru-headquartered fresh produce specialists LaCalera Group.

Shareholder Neil Gott will continue to run the operations and logistics side of the business within the Pacific Produce umbrella.

The business’ commercial mango trading arm, including its Peru-based farming operation, has been acquired by leading banana distributor SH Pratt.

Ripe Now co-founders Julian Wright and Lewey Hook will remain with the import business, taking up key positions in a newly formed standalone division of SH Pratt Group called SH Pratt Group Tropical.

Employing more than 150 people, Ripe Now specialises in growing, importing and ripening mangoes, which it supplies to major supermarkets and food manufacturers.

Chris Adlam, partner at FRP Corporate Finance, said: “With a number of parties involved, and strong interest in two distinct parts of the business, this was a complex but successful sale process which delivered a great result for Ripe Now’s shareholders and other stakeholders across the business.

“Trade consolidation strategies are proving an increasingly attractive proposition for food importers amid increased costs and we look forward to seeing the combined businesses continue to grow in the years ahead as they each benefit from greater scale.”

Hook added: “We are extremely proud to become part of the SH Pratt Group family. We look forward to bringing together our tight knit group of growers, exporters and customers, who we have dealt with for more than 15 years, to accelerate the business growth of the company in new and exciting areas.”