BrightFarms poised for market expansion with $30 million in financing

BrightFarms recently announced a $30.1 million Series C equity financing, led by growth equity firm Catalyst Investors and joined by existing investors WP Global Partners and NGEN Partners.

"With this financing, the largest equity investment to date in the controlled environment local produce industry, we have strengthened our leadership position in transforming America’s food system to include more fresh, healthy, local and sustainable produce on a commercial scale," CEO Paul Lightfoot says.

"Our nutritious and delicious baby greens and tomatoes are generally a week fresher than the long-distance products they replace on supermarket shelves." BrightFarms produce is currently available at leading retailers such as Mariano’s (Kroger), Giant Food (Ahold USA), McCaffrey’s, Wegman’s, ACME and ShopRite. Sourced directly from their greenhouses near Chicago, Washington, D.C. and Philadelphia, the produce is delivered within 24 hours of harvest.

"We’re humbled by this investment and by the commitment of our clients," Paul says. "We look forward to expanding to new markets in partnership with the strongest, most forward thinking retailers in the country. We also look forward to delivering fresh, locally grown food at scale to exponentially more consumers across America on a year-round basis."

For more information
BrightFarms, Inc
349 5th Ave
New York, NY 10016, USA
+1 212-358-1100
www.brightfarms.com

Publication date: Thu 29 Sep 2016