A noteworthy take - over in the UK herbs and cannabis industriousness . Only 11 months after the decorative plants , flowers and herbs growing company Bridge Farm was acquired by a Canadian MMJ grower , the company is back in private possession .
Bridge Farm Group has put to death a definitive agreement that will return the troupe to independent ownership as a newly formed entity controlled by David Ball , former CEO of Bridge Farm and current Partner at Artemis Growth , a secret equity investor . The current management team lead by Managing Director , Louise Motala will preserve to have full operational control of the business . " David will be the majority part holder in the business , " Jen Richardson with the society explains .
establish over 30 year ago , Bridge Farm , which includes the Neame Lea and Zyon brand within its portfolio , specialises in growing ornamental plants , flush and herb . The company has a workforce of over 500 employees at peak time across five locations and sells more than 80 million units per year to retail merchant . Bridge Farm operates at the pass edge of environmental production with over two million square feet of the most technologically advanced , automated greenhouse product in Europe .
Bridge Farm ’s core direction will remain on its ornamental gardening and bring forth business , where it expects to continue building on its market run position . The transaction will provide continued investment in its state - of - the - art nursery facilities and research into the botanic health and health market , including cannabis derive CBD . " We have a R&D license , through which we are exploring the CBD space . "
Louise Motala , Managing Director of Bridge Farm Group say : “ The impact of COVID-19 and Brexit on our industry means that the demand for mellow caliber , sustainably grown UK merchandise has never been greater . This is an exciting time in Bridge Farm ’s story , over the last two years we have invested over £ 45 million in Clay Lake , one of the most advanced , environmentally sound cultivation facility in Europe . We have over 60 acres of amply automated , sustainable cultivation and production space and we are looking forward to realising the full voltage of our scale and facilities for the welfare of our customers . ”
According to Clearwater International , advisors on the plenty , the entire transaction value of € 74 m ( $ 81 m ) rate the dealings as the turgid European M&A transaction in 2020 for marihuana and hemp - related caller and represents the large M&A dealing of 2020 in Europe for the horticulture and farming industriousness .
Bridge Farm Group was buy back from Sundial , which previously gain the UK - base procedure . Zach George , Sundial ’s Chief Executive Officer , tell : " This divestiture will allow us to focus on our core strength in premium inhalable products for the Canadian recreational market . On close , our new management team will have reduced our take to the woods - charge per unit annual cash obligations by more than $ 50 million and make a clear path to the equitization of our counterweight sheet . I would wish to give thanks the Bridge Farm team for their leadership and courage in the face of COVID-19 as well as our lenders for their continued support . "
For more info : Bridge Farm GroupNeame Lea Nursery , Horseshoe RoadSpalding , Lincolnshire , PE11 3JB+44 ( 0)1775 768 234bridgefarmgroup.co.uk
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