
The Strategic Advantage of Evergreens in Making Acquisitions
- Justin Erickson
- Harbor Foods Group
Harbor Foods was founded by my great-grandfather 100 years ago. We are an independent food distributor primarily servicing 6,000 restaurants and convenience stores up and down the West Coast. Today, we have about 1,200 employees in multiple locations, and we are growing both the geographies we serve and the size and complexity of our company. As the fourth-generation leader of Harbor, I feel that it is my task to look toward the next 100 years; what do we need to do now to ensure that we are in a strong position to endure?
At Harbor, we have employed many strategies to grow, evolve, and expand our business. Organic growth is an important strategy for us, in places where we have the capacity to grow. We are also working to grow in terms of capital investment; we buy new facilities when possible, which we then lease back to the business. Our investment in real estate assets helps us diversify and strengthen our company. But perhaps the most significant and effective way we have and can continue to grow is through acquisitions. In large part, this is a great fit for a company like ours because the structures we need for new territories and markets – including experienced team members, trucks, distribution centers, and customers already in place. Our culture of being an Evergreen® company in an industry built by families and independent entrepreneurs gives us a strategic advantage in acquiring other like-minded family companies.
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