Sunridge Partners (UK), LLP (“Sunridge”), a specialist food and agriculture investment group, helping companies become clear industry leaders, today announced the sale of Ontario Plants Propagation Limited (“OPPL” or “Company”), North America’s foremost supplier of high-quality starter plants for hydroponic and organic greenhouse growers in North America, to COFRA Holding (“COFRA”).
Sunridge partnered with the original family owners of OPPL in 2018 and since developed the business through significant investments in growing area expansions and innovative technology, product diversification and attracting the highest quality talent throughout the organization. Today the Company is the largest and preferred supplier of starter tomatoes, peppers and cucumbers for leading growers throughout Canada and the United States.
“On behalf of everyone at OPPL, I sincerely thank Sunridge for their leadership, vision and role they played in building OPPL into the market leading North American greenhouse starter plant producer that it is today,” said Rob Poultney, Chief Executive Officer of OPPL. “Having joined the Company under Sunridge’s ownership, it has been a privilege to work with like-minded entrepreneurs on rapidly growing our business and setting it up for continued long-term growth and success. We are now excited to join COFRA which plans to invest in our business and growth plan in line with their mission to be a force for good in society and for the environment. COFRA wants to build a trusted ecosystem for growers to produce more sustainable and nutritious food. Together we will enter our next phase of growth to the benefit of our customers and team.”
Philipp Saumweber, Managing Partner of Sunridge, said: “The successful investment in OPPL epitomizes Sunridge’s thematically driven, hands-on and active development approach to partnerships. We have been privileged to help build one of the most sustainable, innovative and market leading suppliers of greenhouse starter plants globally and would like to thank all the OPPL team members who worked tirelessly with us to transform the Company into a compelling growth platform, which we are confident will continue to excel under COFRA’s ownership. We wish Rob and the entire OPPL team all the best as they move forward.”
Lazard served as financial advisor to OPPL and Goodmans LLP served as legal counsel.