Miami-based CREO Capital Partners, a private equity firm focused on food, logistics and consumer investments, has acquired Bova Fresh, a Florida-based food company focused on procurement and logistics, serving major retail and foodservice outlets across the U.S.
The acquisition marks another investment in the B2B food procurement and logistics space, an area where CREO continues to actively source M&A opportunities, according to a news release. The firm remains focused on the asset-light food, logistics and procurement landscape, with particular interest in founder-led and family-owned businesses.
Founded in 2014, Bova Fresh procures and distributes food products to more than 250 retail and foodservice customers across the U.S. Based in Boca Raton, the company says it operates with a nimble team of about 20 and a trusted network of over 300 suppliers throughout the Americas.
“At CREO, we’ve always focused on partnering with great companies led by exceptional people, and Bova Fresh is a perfect example of that,” says Matthew Finnerty, director of CREO Capital Partners. “The procurement and asset-light logistics space is an increasingly attractive area for us, and this investment marks the first of several we plan to pursue in the sector. We welcome conversations with other founder-led and family-run businesses looking for the right long-term partner.”
Bova Fresh will continue to operate independently, with founders Bob Wilhelm and Steve San Filippo retaining a minority stake and continuing to lead day-to-day operations, the release says. The company will integrate with other similar assets in the CREO portfolio.
Bova Fresh plays a vital role in sourcing and delivering products with a focus on Latin America, which will be a geographic area of focus for CREO going forward, the release says. The acquisition creates natural synergies, it adds, as Bova Fresh’s expertise in categories like avocados complements CREO’s other portfolio companies, including Yucatan Guacamole, and opens new cross-selling opportunities. The teams have already begun collaborating to unlock new distribution channels, improve sourcing and drive mutual growth, the release says.
Under CREO’s ownership, Bova Fresh says it plans to expand into new regions, grow its sales force and prioritize high-margin SKUs in categories where it already holds a sourcing edge and strong customer demand. The company is also deepening procurement partnerships and leveraging synergies across CREO’s broader food ecosystem.
“Bob Wilhelm and I are incredibly excited to join one of the nation’s leading private label and food service partners to premium retailers and restaurant chains,” San Filippo says. “This partnership unites Bova Fresh’s deep expertise in the fresh and frozen produce industry with CREO’s portfolio of premium brands, creating a powerful force in fast-growing segments in food. With a shared commitment to innovation, quality and culture, this merger positions us for transformative growth and leadership in one of the most dynamic sectors of the global food market.”
Legal advisers for the transaction included Greenberg Traurig LLP and Nixon Peabody LLP. Butcher Joseph & Co. provided financial and accounting diligence.
