US: Greengro sells $7.5 million greenhouse franchise to FoodRaiser

Greengro Technologies announced the sale of a $7.5 million BP Gardens Glass Greenhouse Franchise to FoodRaiser Corporation, Dublin, Ohio, a trailblazer in health conscious fundraising. FoodRaiser provides schools, clubs, teams, bands, nonprofits, churches and numerous other organizations with organic product based fundraising opportunities.

Greengro Technologies and FoodRaiser have entered into an agreement for FoodRaiser to purchase a Glass Greenhouse Franchise marketed by Greengro Technologies’ subsidiary BP Gardens, Inc., a controlled environment agriculture (CEA) company that specializes in the use of leading-edge technologies and production methods. The Glass Greenhouse Franchise offering includes a turnkey, two-acre greenhouse facility designed to produce up to nine million heads of lettuce per year.

Through the BP Gardens franchise agreement, FoodRaiser has committed to raising the capital to fund the $7.5 million purchase over the next six months. The companies expect to be breaking ground on the Ohio-based facility between the second and third quarters of 2017.

This lucrative franchise partnership enables FoodRaiser to establish and operate a state-of-the-art BP Gardens Glass Greenhouse Franchise and incorporate the produce generated into its organic foods fundraising business, according to Greengro Technologies’ CEO James Haas, who said FoodRaiser will grow produce in the greenhouse utilizing proprietary BP Gardens CEA growing systems and techniques.

“This is the first of our independent U.S. franchise locations that we’re establishing nationwide and we plan to invest in ensuring the facility’s prosperity,” said Haas. “We are very confident that the resources going into this relationship will result in great success for all involved in this business relationship.”

According to their franchise agreement, Greengro Technologies will be providing FoodRaiser with a BP Gardens signature two-acre turnkey off-grid PV-glass greenhouse facility with technology capable of producing a robust crop of nine million crisp heads of lettuce per year, with an immediate take-off purchase order at market rates from BP Gardens. With an estimated value of $.75 per head of lettuce, potential revenues from the facility’s production of lettuce alone could be significant.

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