Cox Enterprises announced the acquisition of BrightFarms, an indoor
farming company and provider of locally grown packaged salads. The move solidifies BrightFarms’ leadership in the area of indoor agriculture and provides a strong, stable foundation committed to accelerating growth with partner retailers.
The relationship between BrightFarms and Cox dates back to 2018, and Cox has held a majority stake in the company since 2020. The transaction aligns with Cox’s mission to build a healthier and more
sustainable future. To date, Cox has invested more than $1 billion in sustainable businesses and technologies, and BrightFarms will play a key role in helping Cox reach its goal of building a multibillion-dollar cleantech business by 2030.
“BrightFarms is a perfect example of our Cox Cleantech strategy – positively impacting the world through profitable, mission-driven businesses,” said Steve Bradley, vice president of cleantech for Cox
Enterprises. “Over the years, our enthusiasm for BrightFarms and the opportunity to transform the industry has increased tremendously, which led us to want to play a larger role in what they're doing.”
"Being part of the Cox team will allow us to scale more rapidly, transforming the salad industry for American consumers," said Steve Platt, CEO of BrightFarms. "As we embark on this new chapter, the BrightFarms team extends gratitude to our founder, Paul Lightfoot, for his vision and to Catalyst Investors for their early and unwavering support.
For more information:
Cox Enterprises
www.coxsrreport.com
BrightFarms
www.brightfarms.com