Caribbean Produce Exchange signs $800K expansion
Caribbean Produce Exchange, a distributor of fruit, vegetables and eggs in Puerto Rico, recently signed an agreement with Puerto Rico Trade and Export to pave the way for an $800,000 expansion of its storage and distributions facility.
The new addition will represent 20,000 square feet of new space to the company’s “Mercado Central” building in San Juan, a venture it is conducing with the support of the government agency.
“We appreciate the speed and commitment with which Puerto Rico Trade acted to support and facilitate this multi-annual agreement to expand our refrigerated facilities, which specialize in distributing and quality control of perishable fresh products,” said Gualberto Rodríguez, president of Caribbean Produce Exchange.
Caribbean Produce Exchange has been in business for 55 years, and has a product portfolio of more than 1,000 brands of fruit, vegetable, eggs and complimentary goods. Its services include managing the supply chain of fresh products, processing of fresh pre-cut food, packaging and distribution of local products, services, marketing and planning.
The company currently has 240 employees.
Through its real estate division, Puerto Rico Trade and Export provides storage facilities for product distribution and offers commercial space to local businesses. The agency has 2.3 million square feet of storage facilities located in San Juan, Mayaguez and Ponce, Executive Director Francisco Chévere said.
“At Puerto Rico Trade our goal is to facilitate and support Puerto Rican companies in their business development and offer the necessary resources so they can maximize their commercial opportunities and achieve being more competitive on and off the island, creating more sustainable jobs that way,” he said.
Caribbean Produce Exchange’s San Juan complex comprises five buildings and is one of the largest refrigerated commercial facilities in Puerto Rico, company officials said.
The company devote the new space entirely to receiving refrigerated goods requiring temperature controls.