Betterment Harvest acquires stake in Canadian greenhouses
A subsidiary of Fishers-based Land Betterment Corp. has acquired an ownership stake in two greenhouse operations in Canada. While financial terms were not disclosed, Betterment Harvest calls the deal a strategic acquisition that will expand its footprint.
Betterment Harvest is a sustainable farming company that focuses on upcycling land that has been previously impacted by coal mining and industrial activity, according to the company’s website.
The company has closed on 50% ownership interests in JC Fresh Farms Ltd. and Orangeline Farms Ltd. The two operations are anchored by dozens of acres of controlled environment growing facilities in Ontario.
Matt Tatomir, founder of JC Fresh and Orangeline and now co-president of Betterment Harvest, said the acquisition will support growth of the farming operations in Ontario, which the company said is home to greenhouse farms that grow more than 520,000 tons of produce annually.
Tatomir said his farms have worked with Land Betterment for over a year, and the combination will bring synergies to both sides.
“Our goal is to provide the absolute best-in-class produce through efficient operations with the least impact to our environment as possible,” Tatomir said in a news release. “We couldn’t be more excited to partner with Land Betterment and the team to expand our business not only in Canada but also throughout the United States.”
JC Fresh operates greenhouses on 33 acres of land in Kingsville, Ontario with the ability to expand by an additional 15 acres. The company said the facility is currently in production with a focus on the specialty tomato class.
Orangeline’s greenhouses are located on more than 52 acres of land in Leamington, Ontario. The farm’s focus is on the exclusive pepper market, including bell and snacking peppers. The company said the site could be expanded to an additional 48 acres.
Land Betterment President and Chief Financial Officer Kirk Taylor echoed plans for expansion, both with each company’s current sites, as well as into new areas in southwest Ontario, Missouri, Indiana, Ohio, and Kentucky, among others.
Betterment Harvest is in the midst of transforming a former elementary school in Perry County, Ky. into a vertical farming operation with a focus on plant propagation. The 25,000-square-foot facility will be used to grow seedlings and produce, and will include controlled lab space.
The company did not provide a time frame for that project’s completion.