LaSalle Capital has made an investment in Fresh Origins, a grower of microgreens and edible flowers. Fresh Origins represents LaSalle Capital’s twelfth platform investment out of its second fund which closed in May 2012 with $205 million of capital.
Microgreens are a tiny form of young edible greens produced from vegetable, herb or other plants such as arugula, basil, beets, kale, mustard, and radish. They are harvested after sprouting as shoots and range in size from 1″ to 1 ½” long, including the stem and leaves. Microgreens are used for both creative presentation and flavor in restaurants serving upscale cuisine.
Fresh Origins provides the foodservice channel with more than 600 varieties of microgreens and edible flowers sold under the brands Microgreens, Petite Greens, Herb Crystals, Flower Crystals, and Fruit Crystals. The company was founded by its CEO David Sasuga and is headquartered near San Diego in San Marcos, CA (www.freshorigins.com).
Mr. Sasuga will continue to lead the company in partnership with LaSalle Capital as it executes its growth plan to increase penetration in the foodservice channel. “We are very excited about our new strategic relationship with LaSalle Capital. Partnering with LaSalle was natural for us given their substantial expertise in the food sector and especially working with businesses serving diverse foodservice customers.”
“David has built a preeminent reputation around producing the highest quality microgreens with unparalleled variety while maintaining industry-leading customer service,” said Jeff Walters, Partner at LaSalle Capital. “We are delighted to assist the company in achieving its next level of growth.”
LaSalle Capital makes control investments of $10 million to $20 million in companies with revenues from $20 million to $100 million and EBITDA greater than $3 million. Sectors of specific interest include food and beverage and technology-enabled business services. LaSalle Capital is based in Chicago (www.lasallecapitalgroup.com).
© 2018 Private Equity Professional | May 11, 2018
