Farmland LP, a fund manager focused on organic farmland in the U.S., said it has entered into an agreement to acquire Riverwood Farm, a 1,184-acre property in Oregon’s Willamette Valley.
Terms of the transaction were not disclosed.
The purchase enables Farmland LP to increase its production of high-value crops that have strong market demand, particularly wine grapes, organic blueberries and hazelnuts, according to a news release. Following the transaction, Farmland LP will own and manage approximately 5,000 acres in Oregon and over 16,000 acres across three states in the western U.S., the release said.
The addition of Riverwood Farm will allow Farmland LP to increase its organic and regeneratively farmed footprint to meet consumer demand, company officials said in the release.
“As a high-quality operating farm with current cash flow and compelling value-add opportunities, Riverwood fits into our portfolio very well,” Craig Wichner, CEO of Farmland LP, said in the release. “[The farm’s] location in close proximity to our existing Oregon farm portfolio and farm-management headquarters also provides excellent economies of scale.”
The acquisition continues Farmland LP’s momentum following a record-setting year in 2022, in which the firm recorded record revenue and assets under management, expanded organic production and hired staff for its farms and fund management teams, the release said. With investor demand expected to remain robust, the firm plans to launch a new Fund III later this year with a strong pipeline of potential acquisitions, according to the release.
