BrightFarms Acquired by Cox Enterprises
Cox Enterprises announced the acquisition of BrightFarms, an indoor farming company and provider of locally grown packaged salads. The move solidifies BrightFarms’ leadership in the indoor agriculture space and provides a strong, stable foundation committed to accelerating growth with partner retailers.
The relationship between BrightFarms and Cox dates back to 2018, and Cox has held a majority stake in the company since 2020.
“Over the years, our enthusiasm for BrightFarms and the opportunity to transform the industry has increased tremendously, which led us to want to play a larger role in what they’re doing,” said Steve Bradley, vice president at Cox Enterprises, said in a news release.
As part of its expansion plan, BrightFarms plans to construct a national network of new high-tech farms that will accelerate the salad industry’s transition to indoor farming. The company will also increase investment in talent, research and innovation as it expands its product portfolio within the salad category and beyond.
“BrightFarms has built the most advanced network of local indoor farms in the nation. Being part of the Cox team will allow us to scale more rapidly, transforming the salad industry for American consumers,” said Steve Platt, CEO of BrightFarms.
“As we embark on this new chapter, the BrightFarms team extends gratitude to our founder, Paul Lightfoot, for his bold vision and to Catalyst Investors for their early and unwavering support.”
BrightFarms currently operates five farms in Virginia, Ohio, Pennsylvania, North Carolina and Illinois. Last month, BrightFarms acquired lef Farms, an indoor grower based in Loudon, New Hampshire. The company plans to expand lef’s facility into a 14-acre indoor growing hub for New England supermarkets.
For more information, visit here.