Private equity firm Blue Road Capital has purchased Fellsmere, Fla.-based B&W Quality Growers LLC.
B&W grows watercress, arugula and other specialty leafy greens for foodservice, retail and wholesale and has three processing facilities. The company also has farming operations in eight states, according to a news release from Blue Road Capital.
“Blue Road’s sole focus on agriculture and the supply chain were significant reasons for our picking them as our partner,” Mark DeLeo, B&W CEO, said in the release. “Their unique network of relationships will offer us access to capabilities and markets we could not have gotten on our own.”
Blue Road Capital has been studying the specialty leafy greens industry, learning about B&W’s reputation.
“With its distinct business model and leading share in the watercress and arugula markets, B&W is uniquely positioned as a platform for continued consistent growth,” John Duryea, Blue Road Capital founding partner, said in the release. “We look forward to partnering with Mark and B&W’s management team to continue B&W’s growth in the foodservice and retail markets and augment its specialty green product offering.”
Duryea also said that future acquisitions of “companies that can benefit from being a part of the B&W platform” are likely.