Joshua Green Corp., a Seattle-based investment company, announced its acquisition of Harris Soup Company through its food-focused subsidiary, JGC Foods. Harris Soup Company, doing business as Harry’s Fresh Foods, is a Portland, Oregon-based manufacturer of premium refrigerated soups, entrées, sides and desserts packaged in retail-ready, grab-and-go containers, found at wholesale club stores, grocers and many other outlets.
“The purchase of Harry’s Fresh Foods is indicative of our desire to acquire long-term investment opportunities in stable industries with excellent growth potential,” says Stan McCammon, president and CEO of the Joshua Green Corp.
This acquisition broadens Joshua Green’s holdings within the food industry, which also includes Cuizina Food Company, a leading manufacturer of bulk frozen soups and sauces. With the addition of Harry’s, Cuizina gains instant access to a wider spectrum of customer channels, specifically direct consumer access. Cuizina currently specializes in bulk packaging, primarily selling to club stores, foodservice and private label customers.
“During this process, we have been impressed by the quality of Harry’s team and its focus on delivering the quality, products and customer service for which Harry’s is known. Joshua Green is about investing in people, and empowering their success, and we believe we have found fertile ground for this in our new endeavor,” adds McCammon.
The Joshua Green Corporation and Mr. Colbourne are committed to Harry’s success as it actively pursues growth of its products, customers and channels of distribution. “Cuizina and Harry’s have very complementary operations enabling JGC Foods to become a single source provider to customers as it relates to fresh or frozen foods,” says Jamie Colbourne, CEO of JGC Foods and Cuizina. “We feel very bullish about the prepared food market and look forward to continuing our expansion in this sector. I have deliberately sought out a situation where I could be an investor and help make a difference in building a successful company within the food industry. The solid foundation provided by the combination of Cuizina and Harry’s presents a terrific opportunity in pursuit of that objective.”
As part of its investment strategy, the Joshua Green Corporation takes a long-term view when buying or investing in local and regionally based companies that are profitable, and which contribute in many important ways to the community. This can be through the employment of workers, civic involvement, ethical and responsible stewardship, or delivery of important products and services. This long-term orientation sets the Joshua Green Corporation apart from many financial investors and makes the JGC an ideal partner for many of the region’s leading companies.