Canadian vertical farming company Growcer has announced that it has won the bid to acquire the assets of Freight Farms, the U.S.-based container farming pioneer that filed for bankruptcy earlier this year. The acquisition includes complete Greenery container farms, spare parts, software, intellectual property, subscriptions, manufacturing blueprints, and the company's internal support knowledge base.
Growcer CEO Corey Ellis shared the news in a detailed LinkedIn post, framing the deal not only as a strategic expansion for Growcer but also as a mission-driven effort to preserve and support the Freight Farms grower community across more than 500 locations worldwide.
© Growcer
Corey Ellis and Alida Burke co-founded Growcer in 2016.
Ellis's full statement, published publicly via LinkedIn:
"Update: We've won the bid to acquire Freight Farms' assets.
A few months ago, one of our top competitors filed for bankruptcy, and the Growcer team sprang into action to help their community of farmers keep growing.
One of the options we explored was throwing our hat into the ring to purchase substantially all of the company's assets (such as an inventory of complete farms, spare parts, software, all intellectual property, and subscriptions, etc.). We rallied a group of key partners, and I'm thrilled to say that we were able to make it happen.
This is a strategic move for Growcer, and a huge milestone for our business. This acquisition combines our expertise in launching and sustaining hyper-local food projects, together with Freight Farms' global reach in more than 500 locations, including top institutions and community organizations around the world.
But beyond the synergies in our businesses, it's also a reflection of a deeper commitment we're making to our industry as a whole.
As I've met customers in the Freight Farms network over the last several weeks, I've seen hundreds of growers who've committed to growing local, healthy, and sustainable food for their communities. We wanted to support these visionary organizations to continue to thrive and scale.
The original mission that Freight Farms set out to achieve will continue, with equal parts of renewed enthusiasm and discipline. We are proud that we have the opportunity to steward this important mission into the next chapter, and we are committed to ensuring we will build for long-term stability and sustainability.
It's no secret that the controlled environment agriculture industry has been experiencing growing pains, but, as this bankruptcy process has demonstrated for me, the long-term future is bright, and many are ready and able to carry the torch forward. The world needs more local food, and many more people who are dedicated to that goal.
I'll be sharing more details after the transaction has closed, which is expected by the end of July 2025.
Until then, to all Freight Farmers: Thank you for your continued trust in Growcer as we've undertaken this process. Our primary goal in the coming weeks will be to ensure a smooth transition. We look forward to earning your trust as long-term partners.
On a personal note, I'm proud of the Growcer team for everything we've accomplished together to get here. We've been thoughtful in how we've built our business, which has allowed us to seize opportunities like this when they come our way. My sincere thanks as well to our group of advisors and financial partners for your continued confidence and sage advice."
© Growcer
For more information:
Growcer
Corey Ellis, CEO
www.linkedin.com/in/coreywellis
www.thegrowcer.ca
Stephanie Gordon, Content and Communications Manager
stephanie@thegrowcer.ca
www.thegrowcer.ca