80 Acres Farms and Soli Organic merge into a $200M indoor farming company
Vertical farming industry leader 80 Acres Farms and Virginia-based agricultural company Soli Organic, are merging into one of the largest indoor farming networks globally.
The new entity will operate under the 80 Acres Farms name and will be located in the company’s headquarters in Hamilton, Ohio. The union is expected to produce between 15 and 20 million pounds of fresh produce annually, generating nearly $200 million in revenue in its first year.
80 Acres Farms’ new product roster will include salad blends, kits, herbs, tomatoes, and microgreens, which will be available across 17,000 retail locations in the U.S.
In a press release announcing the merger details, 80 Acres Farms stated the deal will also combine the company's integrated system of hardware, software, and environmental controls, Infinite Acres GroLoop platform, with Soli Organic’s over 35-year retail footprint and agronomic expertise.
Mike Zelkind, co-founder of 80 Acres Farms and appointed CEO of the newly integrated company, said the "merger unites two top operators that, together, have the scale, economics, and teams to deliver the results that the industry has been waiting for."
Walter Robb, co-chairman of Soli Organic and board member of the combined company, called the merger a win "for forward-thinking retailers and the customers they serve."
He added that "indoor agriculture is playing an increasingly important role for retailers," given recent trade volatility.
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