CREO Capital Partners acquired Bova Fresh, marking an investment in the B2B food procurement and logistics space, an area where CREO continues to actively source M&A opportunities.
“At CREO, we’ve always focused on partnering with great companies led by exceptional people, and Bova Fresh is a perfect example of that.” says Matthew Finnerty, director at CREO Capital Partners. “The procurement and asset-light logistics space is an increasingly attractive area for us, and this investment marks the first of several we plan to pursue in the sector. We welcome conversations with other founder-led and family-run businesses looking for the right long-term partner.”
Key takeaways:
· Bova Fresh procures and distributes food products to more than 250 retail and foodservice customers across the United States.
· Bova Fresh will continue to operate independently, with founders Bob Wilhelm and Steve San Filippo retaining a minority stake and continuing to lead day-to-day operations. The company will integrate with other similar assets in the CREO portfolio.
· The acquisition creates natural synergies, as Bova Fresh’s expertise in categories like avocados complements CREO’s other portfolio companies, including Yucatan Guacamole, and opens new cross-selling opportunities.
· Under CREO’s ownership, Bova Fresh plans to expand into new regions, grow its salesforce, and prioritize high-margin SKUs in categories where it already holds a sourcing edge and strong customer demand. The company is also deepening procurement partnerships and leveraging synergies across CREO’s broader food ecosystem.
