Agriculture Acquisitions in Michigan

FirstFruits Farms, a portfolio company of Ontario Teachers' Pension Plan Board, has acquired Applewood Orchards, Inc. and Applewood Fresh Growers LLC. The deal expands FirstFruits' growing, packing and distribution footprint—adding apple acreage, controlled-atmosphere storage and new club apple varieties to better serve customers across the Midwest and East Coast.

Edible Garden, Inc. (via its holding company 2900 Madison Ave Holdings, LLC) acquired Greenleaf Growers, Inc., a greenhouse and wholesale commercial grower in Grand Rapids, Michigan; the transaction closed on September 2, 2022. Edible Garden will operate the site as "Edible Garden Heartland," integrate its proprietary GreenThumb technology, retain substantially all staff and expand regional production to better serve Midwest retail customers.

Main Street Capital Corporation provided $20.6 million in a combination of senior secured term debt and a minority direct equity investment to facilitate a minority recapitalization of Grand Flower Growers, LLC. The investment, made alongside an unnamed co-investor and in partnership with the company's existing owners and senior management, will provide growth capital to support operations and expansion of the greenhouse grower and distributor based in Wayland, Michigan.

Commodity Blenders, a portfolio company of High Street Capital, has acquired a feed production mill in Jonesville, Michigan, adding a second location to its West Salem, Ohio operation. The acquisition expands Commodity Blenders' production footprint and ability to serve dairy, swine and poultry customers across Michigan, western Ohio and Indiana as an add-on to its platform.