August 12, 2015

Global produce marketer, Vanguard, has announced it has received a strategic investment of $250 million from New York-based agriculturally-focused investment fund, Blue Road Capital.

As part of the transaction, Vanguard International Group has been created to acquire the business of Vanguard International. Co-founders of Vanguard, Craig Stauffer and Guy Kisling, will retain their positions as CEO and CFO for the new entity, while Kisling will also take on the role of chief analytics officer.

Vanguard International Group is planning to use the funds to make strategic acquisitions of fruit and vegetable production assets and complementary businesses on a global scale.

“We are very pleased with our strategic partnership with Blue Road, and believe Blue Road will enable us to continue to grow Vanguard’s global business and to develop a global vertically-integrated fresh fruit and vegetable organization, from farm to customer,” said Stauffer in a release.

Issaquah, Washington-based Vanguard was founded in 1991, and saw sales of approximately US$150 million in the year ending December 31, 2014. The group has offices in Santiago, Chile, Stellenbosch, South Africa, Shanghai, China, Taipei Taiwan, Kuala Lumpur, Malaysia, Jakarta, Indonesia, Madrid Spain, and Genoa, Italy.

Blue Road Capital is agriculturally-focused private equity investment fund that targets the acquisition of ‘control positions’ in businesses within the agricultural supply chain in the Americas. The firm then partners with management teams to develop added value that goes beyond the intrinsic value of the asset.

“With Vanguard International as the spring board, we are exceptionally well positioned for immediate growth that will allow us to improve our supply capabilities for our customers globally, and enhance our abilities to supply the right fruit at the right time through our existing supply and service relationships,’ said Tim Clarke, Vanguard’s COO.