Key Takeaways:
- Elevate Farms has acquired 100% of Fieldless Farms, making it a wholly owned subsidiary.
- The transaction brings together two Canadian companies focused on vertical and controlled-environment farming.
- Fieldless Farms operates a pesticide-free leafy greens facility in Cornwall, Ontario.
- The acquisition supports Canadian food sovereignty and domestic supply resilience.
- The combined entity plans to pursue innovation and potential international expansion.
Elevate Farms Finalizes Acquisition of Fieldless Farms
Elevate Farms Inc., a vertical farming technology company, announced the closing of its acquisition of all issued and outstanding securities of Fieldless Farms Inc., a Canadian controlled-environment agriculture company. As a result of the transaction, Fieldless Farms becomes a wholly owned subsidiary of Elevate Farms.
The acquisition unites two companies operating within the controlled-environment agriculture sector and reflects a strategic move to consolidate expertise in vertical farming, sustainability, and food production technologies within Canada.
“As a result of the successful completion of the acquisition, two industry innovators have been united,” said Amin Jadavji, CEO of Elevate Farms. He noted that the transaction supports the development of a Canadian-based food production platform with ambitions for long-term growth and global reach.
