Bridgepoint Advises BrightFarms, Inc. on Its Growth Debt Financing
Transaction will allow BrightFarms to further expand its geographic footprint and continue its trajectory as a leading impact company providing a cutting-edge, scalable solution to Americans’ increasing demand for local and sustainable food.
October 2020 – NEW YORK, NEW YORK – Bridgepoint Investment Banking is pleased to announce it advised BrightFarms, Inc. (“BrightFarms”) on its debt capital raise to refinance its existing credit facility and construct new sustainable greenhouses throughout the United States.
“Bridgepoint’s leveraged finance group once again sourced the optimal niche debt capital to allow our company to further scale and entrench ourselves as a leading provider of sustainable produce. Bridgepoint ran a highly tailored process from start to finish. Their team’s deep debt capital markets relationships once again proved to be an integral component for setting up the long-term success of our company,” said Steve Campione, CFO of BrightFarms.
“We are thankful to have partnered with BrightFarms. They are a leading impact company doing very important work on America’s food supply chain. Our trusted, repeat relationship with BrightFarms management highlights our core values and dedication to providing paradigm-shifting capital markets solutions to our clients across the country,” said Matt Plooster, President & CEO of Bridgepoint Investment Banking.
BrightFarms is a leading supplier of packaged, leafy green produce to supermarkets throughout the United States. BrightFarms’ produce is grown in local, indoor greenhouse farms, which is fresher, safer, cleaner and healthier than long-distance, field-grown produce. BrightFarms’ low-impact greenhouses provide permanent green collar jobs, significantly reduce food miles and improves the environmental impact of the food supply chain. BrightFarms’ greenhouses use 80% less water, 90% less land and 95% less shipping fuel than tradition suppliers.
About Bridgepoint Investment Banking
Bridgepoint Investment Banking, a division of Bridgepoint Holdings, LLC, is a market-leading boutique impact investment bank. The Bridgepoint team, through their broker dealer relationship with M&A Securities Group, Inc., an unaffiliated entity, serves clients over their corporate lifecycles by providing capital raising and M&A advisory solutions. Bridgepoint serves clients globally across a range of focus sectors including consumer and food & beverage.
About BrightFarms, Inc.
BrightFarms is the No. 1 brand of locally grown packaged salads, serving the freshest, tastiest and most responsibly grown produce to consumers nationwide. BrightFarms operates hydroponic greenhouse farms in the communities it serves, enabling it to eliminate time, distance, and costs from the food supply chain. BrightFarms’ growing methods, a model for the future of scalable, sustainable local farming, use far less energy, land and water than long distance, field-grown agriculture. Forbes has recognized BrightFarms as one of the “100 Most Consumer Centric Companies” and Fast Company has recognized BrightFarms as “One of World’s 50 Most Innovative Companies” and one of the “Top 10 Most Innovative Companies in Food.” BrightFarms is funded by leading investors Cox Enterprises, Catalyst Investors, WP Global Partners and NGEN Partners. For more information, please visit http://www.brightfarms.com.