McCartney Produce Co. in Paris is becoming a subsidiary of FreshEdge, an Indianapolis-based company that has several holdings in the fresh food distribution business.
McCartney, located at 459 Culley Drive, has been in business since 1947. It has about 110 employees.
McCartney will retain its own name, and will still own all real property at the Culley Drive location. The employees will still be McCartney employees, and the company is expected to keep all the present workers.
The two companies are expected to close on the acquisition deal today. No purchase price has been announced.
FreshEdge was formed 15 months ago when IF&P Foods of Indianapolis and Get Fresh Produce of Bartlett, Ill. merged. It already controls several leading produce and specialty food distribution companies.
As part of the deal, FreshEdge will take over McCartney’s leases. McCartney has a 52,300-square-foot building and a separate 8,400-square-foot truck maintenance building at the Culley Drive site.
McCartney is in the midst of participating in a PILOT (payment in lieu of taxes) program with the City of Paris and Henry County. The company was to spend $9.5 million on construction costs and industrial equipment as part of the PILOT program, approved in early 2015, and have their taxes abated.
FreshEdge will now be assuming McCartney’s role in the PILOT program, according to Rob Goad, executive director of the Paris-Henry County Industrial Committee.
Greg Corsaro, president/chief operating officer of FreshEdge, spoke with the city industrial development board via Zoom on Tuesday.
“We’re proud of the investment you’re making in Henry County,” Troy Buttrey, chairman of the industrial board, told Corsaro.
FreshEdge’s other subsidiaries are Piazza Produce, Cibus Fresh and Indianapolis Fruit, all of Indianapolis; GetFresh Produce of Illinois; and Papania Produce of Lexington, Ky.