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New Deal


Announced

COFRA Holding and Mastronardi Produce to acquire a high-tech controlled environment agriculture facility from AppHarvest for $127m.

Financials

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Transaction Value£105m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Single Bidder

Acquisition

Majority

Private

Friendly

Infrastructure

Farming Fishing Ranching and Plantations

controlled environment agriculture

Pending

greenhouse facilities

United States

Cross Border

Synopsis

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COFRA Holding, a privately held group of companies active in various business sectors, and Mastronardi Produce, a fresh fruits and vegetables company, agreed to acquire a high-tech controlled environment agriculture facility from AppHarvest, an American food production company, for $127m. The joint venture acquired the Berea greenhouse in a sale and leaseback transaction with AppHarvest, which will remain as the facility’s operator. Mastronardi Produce will continue to market and distribute leafy greens produced at Berea by AppHarvest.

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