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

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.