We are pleased to share the sale of our client, Greenleaf Growers, Inc., to 2900 Madison Ave Holdings, LLC (a holding company of Edible Garden, Inc.). The transaction closed September 2, 2022.
Greenleaf Growers, located in Grand Rapids, Michigan, operates as a greenhouse and wholesale commercial grower, producing spring crops, fall mums, as well as seasonal poinsettias. The products are grown on a contract basis for a qualified industry-specific customer base.
The company's comprehensive equipment, as well as infrastructure capabilities, support its cost efficiencies, operational consistencies, and quality control to provide clients with superior value and product quality. Greenleaf Growers will operate as “Edible Garden Heartland”.
Located in Belvidere, New Jersey, Edible Garden (Nasdaq: EDBL) is a leader in locally grown organic leafy greens and herbs backed by Zero-Waste Inspired® next-generation farming. Offered at over 4,000 stores in the U.S., Edible Garden is disrupting the CEA and sustainability technology movement with its safety-in-farming protocols, use of sustainable packaging, patented GreenThumb™ software and self-watering in-store displays.
Edible Garden currently operates state-of-the-art greenhouses and processing facilities in Belvidere, New Jersey and Grand Rapids, Michigan, strategically located near major markets in the U.S. Its proprietary GreenThumb software optimizes growing in vertical and traditional greenhouses while seeking to reduce pollution-generating food miles. Edible Garden is also a developer of ingredients and proteins, providing an accessible line of plant and whey protein powders under the Vitamin Way® and Vitamin Whey® brands.
“The Greenleaf Growers facility will incorporate our patented, advanced technologies and processes, while reinforcing our commitment to the region and our Midwest customers. Most of all, this facility will support our mission of providing Zero-Waste Inspired, Simply Local, Simply Fresh® produce,” said Jim Kras, Chief Executive Officer with Edible Garden.
Kras added, “We are delighted to have Greenleaf’s shared commitment for a smooth transition of the existing floral customers’ business to Edible Garden’s technology-backed growing platform.”
Mike Sudbury, General Manager at Edible Garden, will lead the Grand Rapids facility. “As a heartland native, I am particularly proud that we chose to purchase an existing facility and retrofit it with our proprietary technology,” said Mr. Sudbury. “We anticipate retaining substantially all the existing workforce and, over time, we could add as many as 40 additional jobs, as well as potentially contribute to an additional 100 indirect jobs within the Grand Rapids community.”
“Grand Rapids is the ideal location for Edible Garden Heartland as it places us close to one of our major retail distribution partners, Meijer, while also allowing us to extend our reach and better serve other customers in the region. This further empowers us to minimize food miles, shorten time to market while decreasing spoilage, waste, and ultimately reducing our CO2 footprint,” noted Kras.
Generational Equity Executive Managing Director of M&A – Central Region, Michael Goss, and his team, led by Senior M&A Advisor, Joe Hige, with the support of Managing Director, M&A, Ryan Johnson, successfully closed the deal. Senior Managing Director Rick Buchoz established the original relationship with Greenleaf Growers.
“Greenleaf Growers operations and facility are a solid match for the future growth of Edible Garden. Both sides worked well together to execute a mutually beneficial transaction,” said Hige.
it all started with a conference.
start your story today,
speak directly with one of our senior advisors +1-972-232-1121
The information we learn from customers helps us personalize and continually improve your experience. Here are the types of information we gather.
We receive and store any information you enter on our Web site or give us in any other way. We do not sell or rent your personal information to others without your consent. We use the information we collect only for the purposes sending promotional information, enhancing the operation of our site, serving advertisements, for statistical purposes and to administer our systems. We DO NOT use third parties to provide customer service, to serve site content, to serve the advertisements you see on our site, to conduct surveys, to help administer promotional emails, or to administer drawings or contests, but reserve the right to do so in the future without advance notice.
Generational Group’s affiliates are all part of one corporate family, they work with one another and may work together to provide services to you. The sharing of your information among affiliates enables Generational Group to serve you more efficiently and makes it more convenient for you to do business with Generational Group. Generational Group is permitted by law to share information with its affiliates. All of our affiliates follow similar privacy policies.
For reasons such as improving personalization of our service, we might receive information about you from other sources and add it to our account information.
Generational Group may license the use of its intellectual property including but not limited to its name, likeness, and logo for the use of affiliated offices. Such affiliated offices may not be owned, controlled, managed, supervised or staffed by employees, officers, or agents of Generational Group. Affiliated offices may be independently owned and operated. For more information about a particular office, please contact Generational Group at its office in Dallas, Texas.
This page may contain other proprietary notices and copyright information, the terms of which must be observed and followed.
Information on this web site may contain technical inaccuracies or typographical errors. Information may be changed or updated without notice. Generational Group may also make improvements and/or changes in the products and/or the programs described in this information at any time without notice.
Generational Group does not want to receive confidential or proprietary information from you through our web site. Please note that any information or material sent to Generational Group will be deemed NOT to be confidential. By sending Generational Group any information or material, you grant Generational Group an unrestricted, irrevocable license to use, reproduce, display, perform, modify, transmit and distribute those materials or information, and you also agree that Generational Group is free to use any ideas, concepts, know-how or techniques that you send us for any purpose.
Our computer system protects personal information using advanced firewall technology.
Information Generational Group publishes on the World Wide Web may contain references or cross references to other products, programs and services that are not announced or available in your country. Such references do not imply that Generational Group intends to announce such products, programs or services in your country. Consult a Generational Group representative for information regarding the products, programs and services which may be available to you.
Generational Group makes no representations whatsoever about any other web site which you may access through this one. When you access a non-Generational Group web site, please understand that it is independent from Generational Group, and that Generational Group has no control over the content on that web site. In addition, a link to a non-Generational Group web site does not mean that Generational Group endorses or accepts any responsibility for the content, or the use, of such web site. It is up to you to take precautions to ensure that whatever you select for your use is free of such items as viruses, worms, Trojan horses and other items of a destructive nature.
IN NO EVENT WILL Generational Group BE LIABLE TO ANY PARTY OR ANY DIRECT, INDIRECT, SPECIAL OR OTHER CONSEQUENTIAL DAMAGES FOR ANY USE OF THIS WEBSITE, OR ON ANY OTHER HYPERLINKED WEBSITE, INCLUDING, WITHOUT LIMITATION, ANY LOST PROFITS, BUSINESS INTERRUPTION, LOSS OF PROGRAMS OR OTHER DATA ON YOUR INFORMATION HANDLING SYSTEM OR OTHERWISE, EVEN IF WE ARE EXPRESSLY ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.
Furthermore, all information contained within this website is the property of Generational Group.
Success, you have been added to our list.