Kalera GmbH & Assets Acquired By Growy Holdings

Kalera GmbH has recently announced its acquisition by Growy Holdings BV. The sale includes Kalera’s headquarters in Germany, a farm in Kuwait, and a farm under construction in Singapore. This acquisition enables Kalera to focus solely on its United States operations, which is expected to accelerate long-term growth in attractive consumer segments.

The transaction will allow Kalera to focus clearly on its core markets and create value for its customers and stakeholders. Kalera will retain its licensing agreement for Kalera GmbH’s intellectual property, which will ensure that the company’s valuable intellectual assets remain in use. In addition, the international business will be classified as discontinued operations in Kalera’s financial statements, providing greater clarity to investors and stakeholders.

The net proceeds from the sale will be applied towards repaying outstanding promissory notes and other liabilities, which will improve Kalera’s financial position. According to the company’s press release, the sale is a significant step towards Kalera’s goal of achieving a favorable cash flow position. The milestone should be completed through the divestiture of Vindara, which is expected to close by the end of Q1 2023.

Jim Leighton, President and CEO of Kalera sees strong growth potential in the existing US farms and customer segments. He believes that Kalera’s focus on becoming a pure-play vertical farming company in the US will drive profitable growth and long-term value for its shareholders. This focus will also allow the company to invest in its existing farms and growing customer segments, which will support the continuation of growth in the US vertical farming market.

Growy Holdings shares Kalera’s passion for vertical farming and will employ employees from the international business. The move will ensure that the know-how is retained and continues to support the growth of the business. The acquiring company also shares Kalera’s vision for a sustainable future, which will further drive the company’s success.

Image provided by &ever Kalera