- January 3, 2020
BABCOCK RANCH — Finn Farms, a hydroponic grower inside Babcock Ranch, a master-planned, solar-powered community on the border of Lee and Charlotte counties, has been sold.
Lake Worth-based Green Life Farms has acquired Finn Farms, according to a statement. Financial terms of the deal weren’t disclosed. The transaction, according to a statement, will provide Green Life Farms with full ownership of Finn Farms, including all site and equipment assets.
Finn Farms currently owns a 2.5-acre hydroponic greenhouse in Babcock Ranch, which has recently completed construction and commissioning. The facility uses Nutrient Film Treatment growing technology supplied by Green Automation, Novarbo, Priva and others, the release adds. The facility produces a wide range of leafy greens and herbs, including spinach and basil, and is expected to be fully operational and generating revenue in the third quarter of 2021.
Green Life Farms will own and operate the Finn Farms location, which will retain its brand name for herbs and micro-greens. The acquisition, the release states, “allows Green Life Farms to rapidly accelerate its sales and capital growth plans, add technological diversity, and incorporate new intellectual property and licensing rights to its business model.”
Green Life Farms currently operates a 100,000 square foot state-of-the-art hydroponic greenhouse in Lake Worth with its second of 13 planned locations currently under construction in Lake City. The Finn Farms location will expand Green Life Farms’ growing and sales footprint into Southwest Florida, the release states. Previously, Green Life Farms announced an expansion plan that included 8 total facilities; based on market demand for its premium lettuce products, the company has updated its expansion plan to 13 farms.
Green Life Farms products, which include Butterhead Lettuce, Baby Arugula, Baby Kale, Baby Romaine and Farmer’s Blend, are available in more than 300 grocery stores and restaurants from Palm Beach to Miami and beyond, including some international locations. Green Life Farms has also partnered with one of the largest meal delivery services in the U.S. to serve customers across the Southeast.