CIC Partners sells Combs Produce share

CIC Partners LP, a Dallas-based private equity firm, has sold its investment share in Combs Produce, one of the largest tomato packers in the Southwest.

In 2009, CIC Partners invested in Combs in partnership with Jay Pack and the Company management team, led by Brett Combs.

During its ownership period, CIC Partners recruited a senior management team and executed a strategic plan that expanded Combs services and sales into the foodservice and retail channels.

"This transaction is a great outcome for the Company and for CIC Partners," stated Jeff Partridge, former CEO of Combs.

"More importantly it addresses our customers growing desire for produce direct from the source. When combined with Combs value added service offerings, our customers will get the best of both worlds."

The private equity firm sold its share to Lipman Produce, a Florida based company.

Founded in 1958 by J.C. Combs, Combs Produce has grown to be the largest tomato packer in the Southwest region.

"I couldn’t be more pleased with the partnership with CIC Partners," stated Brett Combs.

"CIC Partners brought the resources, team and capability to better position Combs. As a result, our customers, employees and shareholders will benefit tremendously from this transaction."