©Green Life Farms
Organic food producer Green Life Farms has agreed to acquire Finn Farms, a hydroponic grower based in Florida.
The transaction will give Green Life Farms full ownership of Finn Farms, including all site and equipment assets, and enable the company to expand Green Life Farms’ growing and sales footprint in southwest Florida. Green Life Farms currently operates a hydroponic greenhouse in Lake Worth, Florida, with plans to open another 13 sites in the state.
Finn Farms operates a 2.5-acre hydroponic greenhouse in southwest Florida, which uses nutrient film treatment growing technology supplied by Green Automation, Novarbo, Priva, among others. Here, Finn Farms produces a range of leafy greens and herbs, including spinach and basil, and the site is expected to be fully operational later this year.
Upon completion of the transaction, Finn Farms will retain its brand name for herbs and microgreens.
A company statement said: “The acquisition allows Green Life Farms to rapidly accelerate its sales and capital growth plans, add technological diversity, and incorporate new intellectual property and licensing rights to its business model. Previously, Green Life Farms announced an expansion plan that included eight total facilities; based on market demand for its premium lettuce products, the company has updated its expansion plan to 13 farms.”
© FoodBev Media Ltd 2021
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