The company said the deal would enable Produce Investments to access the earliest season potatoes, which will enhance the company's planning and strategy over the rest of its crop as it comes through the harvest season.
JRC turns over around £31m a year. The deal includes acquisition of the Kent Potato Company, which JRC owns.
The company has also confirmed closure of one of its three main potato packing facilities, Tern Hill in Shropshire, following a consultation with employees.
Operations at the site will cease in August, with volumes transferring to the remaining sites in the Scottish Borders and Cambridgeshire where it anticipates creating 50 new jobs.