February 2, 2016, Los Angeles, CA – Liner LLP represented Progressive Produce LLC in the recent sale of a 65% equity stake to publicly-traded Total Produce plc. Led by corporate and tax partner, Afshin Beyzaee, the Liner team provided complex legal and tax advice to the Los Angeles-based produce distributor.
Founded in 1967 and headquartered in Los Angeles, California, Progressive Produce is one of California’s premier produce companies, with over 200 employees and over $200 million of sales in 2015. The company’s offerings have expanded over the years from a base business of potatoes and onions into a broad array of commodities, including asparagus, organics, fruits and vegetables, cabbage, citrus and most recently, berries.
Based in Dublin, Ireland and operating out of 100 facilities across some 20 countries, Total Produce is Europe’s premier fresh produce provider. Growing, sourcing, importing, packaging, distributing and marketing over 200 lines of fresh fruits, vegetables and flowers, the Total Produce group annually distributes over 300 million cartons of fresh produce to the retail, wholesale, foodservice and processing sectors across Europe and North America.
Existing owners Jim Leimkuhler, Victor Rodarte and Jack Gyben will continue with an ownership position and their general management responsibilities at Progressive Produce. Leimkuhler said, “This transaction was the culmination of a long history of the Liner team skillfully handling our legal matters. We are most grateful for their expertise and dedication.”
Beyzaee, who provided the corporate and tax expertise on the transaction, was joined by Mitchell Regenstreif, David Parsly and Alexandra Kelly in advising Progressive.