Private equity firm Blue Road Capital has announced the purchase of B&W Quality Growers from Boyne Capital.
Founded in 1870, B&W is a vertically-integrated producer of distinctive baby leaves, including watercress, arugula, and other specialty leafy greens. Headquartered in Fellsmere, Florida, with three processing facilities in three states and farming operations that span eight states, B&W grows, packs and ships products to foodservice, retail, wholesale, and specialty channels year-round. The company is committed to smart, sustainable farming techniques and is GLOBAL G.A.P. certified, meaning it complies with the voluntary worldwide standard for ensuring safe, sustainable agricultural practices.
Mark DeLeo, CEO of B&W, said, “We are very excited to begin the next chapter in the B&W growth story with Blue Road’s acquisition of the company. Blue Road’s sole focus on agriculture and the supply chain were significant reasons for our picking them as our partner. Their unique network of relationships will offer us access to capabilities and markets we could not have gotten on our own.”
John Duryea, a Founding Partner of Blue Road Capital, said, “We are delighted to announce the acquisition of B&W as our platform in the specialty leafy green industry. We have been studying the category for several years and have been familiar with B&W and its reputation for quality and food safety for some time. With its distinct business model and leading share in the watercress and arugula markets, B&W is uniquely positioned as a platform for continued consistent growth. We look forward to partnering with Mark and B&W’s management team to continue B&W’s growth in the foodservice and retail markets and augment its specialty green product offering. We also envision future add-on acquisitions of companies that can benefit from being a part of the B&W platform.”
He added, “We are pleased to be financing the B&W transaction with the help of American AgCredit, who have been very consistent sponsors of our investment efforts. In addition, legal counsel was provided by David Allinson and the team at Latham & Watkins, a group with which we have had a long and successful relationship.”