Lakeside Produce
Claim This Profile
Is this your business?
Claim your company profile on iGrow News to showcase your business, share updates, and connect with the global AgTech community. Enjoy features like customizable profiles, press release submissions, event promotions, and job postings, with premium plans offering enhanced visibility. Take control of your presence and reach key industry decision-makers today!
Claim Now!Company Profile
Overview of Lakeside Produce Inc.
Lakeside Produce Inc. was a greenhouse produce company based in Leamington, Ontario, Canada. Established in 1943, the company grew, packaged, and distributed vegetables across North America, including specialty tomatoes, cucumbers, bell peppers, and eggplants. Known for its family ownership and North American footprint, Lakeside operated until its bankruptcy in 2023.
History and Founding of Lakeside Produce Inc.
Founding and Ownership
Lakeside Produce was founded in 1943 in Leamington, Ontario. It remained family-owned for much of its history, with the Cervini family playing a significant role in its leadership. Chris Cervini most recently served as President and CEO.
Company Mission
The company focused on delivering fresh and high-quality produce with a commitment to food safety, sustainability, and customer service.
Business Operations and Developments
Expansion and Infrastructure
Lakeside Produce expanded its greenhouse and distribution footprint with facilities in Ontario, Michigan, and Texas. Its operations included conventional and organic greenhouse production, packing houses, and logistics centers.
Product Portfolio
The company produced a range of vegetables, including bell peppers, cucumbers, eggplants, and specialty tomatoes such as its proprietary “Stramato” variety.
Industry Partnerships and Economic Contributions
Lakeside partnered with the Ontario government in 2019 to expand its Leamington site, a project valued at nearly $7 million and supported by public investment. The expansion added over 200 jobs and retained more than 300.
Distribution and Market Presence
Lakeside distributed produce to major North American grocery chains, club stores, and foodservice distributors.
Financial Challenges and Bankruptcy
Bankruptcy Filing
On January 17, 2023, Lakeside Produce filed for bankruptcy in the Ontario Superior Court of Justice. Ernst & Young Inc. was appointed trustee to manage the liquidation process.
Financial Overview
At the time of filing, Lakeside reported liabilities totaling approximately $188 million CAD against assets of $3.58 million. Secured creditors included major banks, while unsecured creditors were owed more than $18 million.
Legal and Commercial Disputes
The company faced legal claims under the Perishable Agricultural Commodities Act (PACA), totaling over $740,000. U.S. produce firms also filed a lawsuit for $1.3 million in unpaid deliveries.
Contributing Factors
Several external pressures contributed to the bankruptcy, including:
- COVID-19 pandemic disruptions
- Rising energy and freight costs
- A surge in seedless cucumber supply
- Outbreaks of the rugose virus impacting tomato crops
Local Economic Effects
The bankruptcy impacted numerous logistics firms, suppliers, and other greenhouse operators in the region, including Nature Fresh Farms, which was owed nearly $1 million.
Summary Table: Lakeside Produce Inc.
| Category | Details |
|---|---|
| Founded | 1943, Leamington, Ontario, Canada |
| Ownership | Family-owned (Cervini family) |
| Product Range | Tomatoes, cucumbers, bell peppers, eggplants, specialty and organic produce |
| Operational Footprint | Ontario, Michigan, Texas |
| Key Developments | Government-supported expansion, exclusive varieties, national distribution |
| Financial Status | Bankruptcy filed in January 2023, liabilities of $188M CAD, assets of $3.58M CAD |
| Legal Issues | PACA complaints, commercial lawsuits, secured and unsecured creditor claims |
Read the company's most recent news here.
Gallery Pictures
