Mellone Wholesale Produce acquired by Agri Exotic Trading
Context
Announced in September 2026, Agri Exotic Trading completed the acquisition of Mellone Wholesale Produce, a Hackensack‑based wholesale produce company whose lineage traces back over 80 years. The transaction, advised financially by North Point Mergers and Acquisitions, Inc. and legally by Craig S. Peligri, consolidates two long‑standing New Jersey food‑service distributors operating in the same regional market. Under the agreement, Mellone’s management team will remain in place, preserving the personal service model that has defined its customer relationships across Northern New Jersey and the New York metropolitan area. The deal expands Agri’s capabilities by integrating Mellone’s established customer base with Agri’s broader produce sourcing network, temperature‑controlled warehousing, dedicated delivery fleet, and its SQF‑certified fresh‑cut processing program. The combined entity now offers an enlarged product assortment and increased logistical flexibility, enabling customers to benefit from both the continuity of familiar contacts and the added depth of Agri’s distribution infrastructure. Both parties emphasized that the transaction is driven by the desire to reinforce relationship‑focused service rather than pure scale. By uniting complementary assets—Mellone’s deep market penetration and Agri’s extensive sourcing and processing capacity—the new platform aims to enhance service reliability for restaurants, hospitality groups, and caterers throughout the New York/New Jersey corridor. The acquisition marks the latest step in Agri Exotic Trading’s strategic investment in the regional food‑service market, reflecting a continued focus on expanding operational reach while maintaining the personalized approach that has underpinned its growth since inception.
Mellone Wholesale Produce, which reported an EBITDA margin of in 2026, is valued in this transaction at an EV/EBITDA multiple of , a level to compare with the average currently observed in the Business Services sector (11.4x).
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Target
Founded over 80 years ago in Hackensack, New Jersey, Mellone Wholesale Produce operates as a wholesale distributor of fresh fruits and vegetables to foodservice operators across northern New Jersey and the New York market. The company traces its roots to Carl Mellone & Sons and has been managed across three generations, emphasizing personalized service, timely deliveries, competitive pricing and consistent product quality. Its client base includes restaurants, hospitality groups, caterers and other institutional buyers, which receive orders through a dedicated delivery fleet and refrigerated warehousing. The business model relies on sourcing a broad range of produce, maintaining inventory in temperature controlled facilities, and fulfilling split-case or full-case orders on a six day schedule, while preserving long standing customer relationships.
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REFERENCES
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Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.
Acquirer: agri exotic trading