New expansion for BrightFarms, which plans to expand distribution to more than 15,000 stores by 2025

BrightFarms, one of the U.S. leading providers of locally grown packaged salads, has secured more than $100 million in debt and new equity capital to support robust expansion plans.

Indoor farming company is funded by leading investor Cox Enterprises, which now owns a majority stake in BrightFarms, and includes follow-on investment from Catalyst Investors, growth equity firm. The funds will be used by the company to invest in its current farms and retail programs, and will expand its network of regional indoor farms throughout the United States.

Steve Platt, CEO of BrightFarms, said, “We are thrilled to have the strong financial backing of Cox Enterprises, an organization that closely aligns with our mission to build a healthier and more sustainable future, and to have the additional support of our long-term partners at Catalyst Investors. Together we are ready to scale our model for local indoor farming in every major market in the U.S.”

More than $ 200 million in funding has been raised by BrightFarms to date to build the nation's first locally grown produce brand. In addition, the company has established close partnerships with leading retailers such as Walmart, Ahold Delhaize and Kroger.

The company is currently distributing its products to more than 2,000 stores in the United States and plans to expand its distribution to more than 15,000 stores by 2025. “Our goal over the next five years is to make quality, locally-grown greens a staple on grocery shelves and in refrigerators nationwide”, added Mr. Platt. As one of the leaders in the rapidly growing indoor farming industry, BrightFarms has indoor farming operations in Ohio, Illinois, Virginia and Pennsylvania, with three new farms currently under development in Massachusetts, Texas and North Carolina.

Growing methods of the company use 80% less water, 90% less land and 95% less shipping fuel than traditional agriculture. Company's indoor farm produces 10 times more leafy greens per acre than field growing. BrightFarms is growing its produce closer to customers, which allows it to deliver fresher packaged greens to supermarkets just 24 hours after harvest, about a week faster than the conventional West Coast leafy greens.

According to Steve Bradley, vice president of cleantech for Cox Enterprises, BrightFarms solve fundamental problems facing society and environment, through its sustainable model of growing food in the same communities where it’s consumed, resulting in fresher, tastier, safer and more environmentally friendly food.

BrightFarms is one of the leading next-generation indoor farming companies that supplying U.S. grocery retailers with packaged salad green. The company operates hydroponic greenhouse farms in the communities it serves to reduce time, distance and costs in the food supply chain.

More information on company’s websie.