FOR IMMEDIATE RELEASE // SEATTLE, WASHINGTON
Meridian Capital LLC (“Meridian”), a leading Seattle-based middle market investment bank and M&A advisory firm is pleased to announce the successful acquisition of its clients, Royal Ridge Fruits & Cold Storage and Dorsing Farms (“Royal Ridge,” “Dorsing Farms,” or the “Company”) by Arable Capital Partners (“ACP”). Through the transaction, ACP will invest in the processing and farming assets of Royal Ridge and Dorsing Farms. Meridian Capital served as the exclusive financial advisor to Royal Ridge and Dorsing Farms on the transaction.
Royal Ridge is a leader in the processing of organic and conventional dried and IQF fruits, with recognized retail offerings under the Stoneridge™ Orchards brand. The Company is a national leader in growing and processing of organic dried tart cherries for uses in trail mix, granola, baked goods and fruit and nut bars.
Located in Washington’s Columbia Basin, Dorsing Farms grows sweet and tart cherries, blueberries, and apples on over 2,500 acres of high-quality farmland. From humble beginnings in 1962, when Karl Dorsing won 160 acres of prairie-land through a state-sponsored lottery, the third-generation family farm has grown to become one of the largest tart cherry growers in the Western United States.
“Meridian’s unwavering commitment and exceptional effort throughout this complex transaction was instrumental in achieving a successful outcome. We are excited about the next chapter for Royal Ridge in partnership with Arable, and the opportunity it provides for our customers and our management team,” said Kevin Dorsing, CEO of Royal Ridge. “The Meridian team took extra care in their process to find a partner who fits with our family values and culture. The resulting partnership with Arable honors the family legacy and positions us for future success,” stated Scott Dorsing, President of Dorsing Farms.
Michael Barber, Managing Director and Head of Consumer and Food & Beverage for Meridian stated, “We are very happy with the tremendous outcome for Kevin, Scott, Bryce, and Patrick Dorsing, and the entire organization in partnering with Arable. We thank the Dorsing family for entrusting the Meridian team to advise them on this transformational event for the family and Company. The Company’s vertical integration along with their unique farming assets positions them for long-term growth as a preferred partner to regional, national, and global commercial and retail customers.”
This transaction represents continued momentum for Meridian’s Food, Beverage, and Agribusiness practice. Other recent transactions include Boyer Fertilizer’s acquisition by Nutrien, Harbor Wholesale’s acquisition of Rich & Rhine, Harbor Wholesale’s acquisition of a significant portion of Food Services of America’s Seattle business, and nutpods growth capital investment from VMG Partners.
For additional information, please contact one of the members of the transaction team:
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ABOUT ROYAL RIDGE FRUIT & COLD STORAGE & DORSING FARMS
Royal Ridge Fruit (www.royalridgefruits.com) is a vertically integrated grower and processor of tree fruits and other crops. Royal Ridge Fruits & Cold Storage offers conventional and organic dried and Individually Quick Frozen (“IQF”) fruits to regional, national, and global food manufacturers, as well as packaged dried fruit products sold through retailers under the Stoneridge Orchards brand name. Dorsing Farms grows conventional and certified organic tart and sweet cherries, blueberries, and apples on over 2,500 acres of Central Washington farmland. Royal Ridge is headquartered in Royal City, Washington.
ABOUT MERIDIAN CAPITAL
Founded in 1995, Meridian Capital is a Seattle-based M&A advisory firm, advising business owners on complex corporate finance, M&A and strategic challenges for over 25 years. The firm differentiates itself through its deep industry insights, highly customized service approach, and end-to-end commitment to execution. With a unique combination of professionals with financial, transactional, and operational expertise, Meridian offers the depth and breadth of experience required to serve leading middle market companies in multiple sectors including aerospace & defense, business services, consumer, diversified industrials, food & beverage, technology, and telecommunications.