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TruSource
About the Company
TruSource Foods (“TruSource or the Company”) is a leading fresh produce distribution company, a portfolio company of Red Arts Capital (“Red Arts”). Founded in early 2025, TruSource has brought together operating companies with 100+ years of combined service in the fresh produce industry. Its strategy is to grow responsibly by partnering with strong operators, preserving the relationships and capabilities that made them successful, and supporting them with shared resources and standards. The Company supports a growing network of independently operated companies representing over 500+ professionals nationwide.
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Situation
TruSource engaged G2 to support its strategy of building a national fresh produce distribution platform with complementary capabilities, product offerings and end-market exposure. TruSource’s growth strategy is focused on partnering with strong regional operators, strengthening service capabilities and creating value for customers, suppliers and operating companies over time.
Engagement
G2 Capital Advisors, LLC (“G2”) served as the exclusive buy-side advisor to TruSource, identifying and originating acquisition targets that aligned with the Company’s strategic and growth priorities. Leveraging deep sector research and broad market outreach, G2 surfaced qualified produce distribution opportunities that advanced TruSource’s expansion strategy.
Outcome
TruSource’s acquisition of Nickey Gregory marked a significant expansion of its distribution network and operational capabilities across key produce markets. By adding Nickey Gregory’s full-line distribution and processing operations, TruSource expanded its customer reach and strengthened its distribution, processing and value-added capabilities.
Paired with Freshway Foods and Forestwood Farm, Nickey Gregory strengthens TruSource’s ability to support customers with broader capabilities while preserving the local relationships, service and operating strengths that have defined each company.
The transaction, completed in December 2025, was the second acquisition on which G2 advised TruSource.
“We are proud to support TruSource in this important milestone. The partnership aligns strongly with TruSource’s strategic objectives and positions the Company for continued growth within the produce distribution sector,” said Morgan Ley, Managing Director at G2 Capital Advisors.
“Nickey Gregory Company brought a strong reputation, experienced leadership and customer relationships that align closely with how TruSource intends to grow. G2 understood that our objective was not simply to add scale, but to partner with companies whose strengths, culture and market relationships could be preserved and supported over the long term,” said Elton Evans, Executive Chairman and CEO of TruSource.
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