Fresh America Buys Norwalk Distributor

Dallas-based Fresh America Corp. said it acquired closely held Francisco Distribution Co. and Long Foods Co. for an undisclosed price to expand its food distribution network on the West Coast and in Florida. Fresh America will pay an unspecified amount of cash and stock for Norwalk-based Francisco, with additional payments contingent on Francisco’s results this year and next. Fresh America said the acquisition will add an unspecified amount to 1998 earnings. Francisco is one of Southern California’s largest fresh fruit and vegetable distributors. The company packages produce under its own brand as well as national brands. Francisco’s sales are expected to exceed $100 million this year. Fresh America, which had revenue of $250 million in the first three quarters of 1997, also acquired the assets of Orlando, Fla.-based Long Foods, a distributor of fresh produce and other foods. Fresh America shares fell 13 cents to close at $19.50 on Nasdaq.