Translink is pleased to announce that Peakstone, its partner firm in the United States, served as exclusive M&A advisor to 80 Acres Farms in connection with the Company’s recent investment from Virgo Investment Group, a San Francisco Bay Area based private equity firm that invests in companies transforming and disrupting high-potential industries. Terms of the financing were not disclosed.
Founded in 2015, 80 Acres Farms provides customers with a wide variety of locally grown, just-picked leafy greens, microgreens, and vine crops, including the world’s only tomatoes and cucumbers grown completely indoors using just LED lighting. The Company has developed its own artificial intelligence-powered growing system, sophisticated data monitoring, and automation technologies to deliver high quality and nutritious products at an affordable price. By locating its indoor farms close to customers, 80 Acres Farms is able to eliminate the costs, time and environmental impact of cross-country transportation, providing customers with a fresher, longer lasting product while drastically reducing food waste. 80 Acres distributes to major national grocers, local retailers, restaurants, and food service companies from its facilities in Ohio, Arkansas, North Carolina and Alabama.
Terms of the transaction were not disclosed.