Sign up for our daily Newsletter and stay up to date with all the latest news!

Subscribe I am already a subscriber

You are using software which is blocking our advertisements (adblocker).

As we provide the news for free, we are relying on revenues from our banners. So please disable your adblocker and reload the page to continue using this site.
Thanks!

Click here for a guide on disabling your adblocker.

Sign up for our daily Newsletter and stay up to date with all the latest news!

Subscribe I am already a subscriber

Instar Asset Management partners with indoor mushroom grower

Instar Asset Management announced it has partnered with management to invest in Greenwood Mushrooms Development, a controlled environment agricultural producer of mushrooms, previously a portfolio company of Canadian private equity firm Novacap. The Company’s experienced management team will continue to lead the business, headquartered in Ashburn, Ontario.

Greenwood’s vertically integrated and technologically advanced operations include the only fully enclosed composting facility in North America and two indoor mushroom production facilities that produce approximately 29 million pounds of premium-quality mushrooms per year. Greenwood’s established customer base is comprised of the largest retailers and food services companies in Canada and the United States.

“When we invest in businesses, we are fundamentally investing in people,” said Morty White, Managing Partner, Instar. “The high-quality service and long-term customer relationships are truly a testament to the strength of Greenwood’s experienced team. We are delighted to welcome Greenwood to the Instar family as we work together to shape the future of agriculture.”

Clay Taylor, Chief Executive Officer of Greenwood, commented, “Since the 1960s, Greenwood has partnered with industry leaders to integrate the best technology, develop best-in-class facilities and produce the best product. Innovation and people are at the heart of what we do, and we are excited to welcome Instar as our new financial partner to support the next phase of growth for Greenwood.”

“One of the biggest challenges to the sustainability of our communities is the safety and security of our agricultural ecosystem,” said Stephen Simpson, Partner, Instar. “Particularly in today’s climate, with growing populations, increasing urbanization, and a changing environment, we are excited to partner with Greenwood, a controlled environment agricultural business that is innovating to optimize growing systems and support local food security. The team’s strong record of growth and focus on environmental impact makes them a perfect partner for Instar.”

The financial terms of the transaction were not disclosed. Instar was provided with legal advice by McCarthy Tétrault LLP.

For more information:
Instar Asset Management
www.instarinvest.com

Greenwood Mushrooms
www.greenwoodmushrooms.com 

Publication date: