Britain's biggest vertical farm operator, GrowUp Farms, has been rescued by its former CEO after burning through £140m in investment, The Grocer can reveal. Holding company GrowUp Group Ltd appointed Interpath as administrator yesterday (16 December) after engaging the insolvency firm to find a buyer or new investment.
Marcus Whately, who ran the company for six years until November 2024, has acquired GrowUp Farms Ltd – the operational business in the group – in a pre-pack deal, securing 83 jobs at the Kent-based farm. London-headquartered private equity firm Sun Capital Partners backed Whately to strike the deal, which included the flagship vertical farm site in Kent.
Whately had previously handed the reins to FMCG veteran Mike Hedges, with the former boss of Little Moons, Proper Snacks, and Tyrrells brought in to commercialise the business. Hedges, along with UK MD Will Howard, who joined from Ella's Kitchen in early 2024, have now left the business following the administration, along with the rest of the senior management team. A total of 30 staff at the group were made redundant by administrators, with 12 group employees transferring to the buyer.
The farm operations were unaffected by the transaction, and GrowUp Farms would continue to trade as normal, supplying salad to UK retail, according to a statement about the administration.
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