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Food Lion spending $50MM to remodel stores

- Retail
With a capital investment exceeding $50 million, Food Lion is unveiling remodeled stores in Wilmington, NC, that feature a new, easier shopping experience for customers.

Local Bounti releases 2022 financial results, secures $145MM of additional financing

- General News
Local Bounti today announced its financial results for the three and twelve months ended December 31, 2022 and provided sales guidance for full year 2023.

Local Bounti amends credit agreement ahead of annual report

- General News
Local Bounti Corporation, a breakthrough U.S. indoor agriculture company combining the best aspects of vertical and greenhouse growing technologies, today announced that it amended its existing credit facility with Cargill Financial Services, Inc.

Plenty real estate partnership offers up to $1B for vertical farm expansion

- General News
Realty Income Corporation, The Monthly Dividend Company, and Plenty Unlimited Inc. today announced that they have entered into a strategic real estate alliance to support the development of Plenty's indoor vertical farms. Under the terms of the agreement, Realty Income will acquire and provide development funding for properties that will house Plenty's indoor farms.

Restaurant robot company raises $15MM to expand production

- General News
Pudu Robotics, a commercial service robotics manufacturer, has announced completion of a Series C3 financing round raising more than US$15 million.

AppHarvest proposes $40MM public offering of common stock

- General News
AppHarvest, Inc., a sustainable food company building some of the world’s largest high-tech indoor farms to grow affordable, nutritious fruits and vegetables at scale while providing good jobs in Appalachia, today announced that it has commenced a $40 million underwritten public offering of shares of its common stock.

Edible Garden hopes to raise $10MM in underwritten public offering

- General News
Edible Garden AG Incorporated, a leader in controlled environment agriculture (CEA), locally grown, organic and sustainable produce and products, today announced the pricing of its upsized underwritten public offering of 1,619,000 units, with each unit consisting of one share of common stock and one warrant to purchase one share of common stock.

Indoor farming operations face bankruptcies, layoffs, closures

- Analysis
Not too long ago, the produce industry watched as billions of dollars went into the indoor farming boom. While I wouldn't go so far as to call it a bust, we're seeing some growing pains.

Village Farms announces $25MM registered direct offering

- General News
Village Farms International, Inc. announced today that it has entered into definitive agreements with certain institutional investors for the purchase and sale of 18,350,000 of its common shares together with warrants to purchase up to 18,350,000 common shares, pursuant to a registered direct offering.

Worldwide Produce adds investor for future growth

- General News
Ridgemont Equity Partners, a middle market private equity investor, today announced the recapitalization of Worldwide Produce, a leading distributor of fresh fruits, vegetables, dairy products and specialty foods to restaurants, foodservice customers and grocery stores across the western United States.