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MightyVine Acquired By Plant Agricultural Systems
Controlled Environment Agriculture Corporate Deals

MightyVine To Be Acquired By Plant Agricultural Systems

Rochelle-based glasshouse tomato grower MightyVine announced that Plant Agricultural Systems will be purchasing the company. The move to what Plant refers to as the “Active Production Site (APS)” will be finished at MightyVine’s Rochelle site over the upcoming few months. Artificial intelligence will assist production technicians by analyzing the most comprehensive crop-cycle data yet made accessible for vine crops. Additionally, they will make use of the supply chain data platform used to create Plant’s goods and distribute them to customers using IBM’s blockchain-enabled technologies. Till 2023, Plant Foods will still sell tomatoes under the MightyVine brand in the Chicago metropolitan region. Customers may anticipate that the whole transition will be finished in early 2023, and the improved product will be offered for sale in time for summer cookouts.

According to Jim Murphy, founder of MightyVine, “Plant Agricultural Systems and MightyVine have the same purpose of giving people access to the greatest quality food possible.  We also think that the resources and technology found in the Plant ecosystem provide creative and practical answers to the problems that now plague our food systems.” Murphy said that when Plant first approached MightyVine, the company was not looking to be acquired. Instead, Plant had captured MightyVine’s attention with his vision for the market, which was more intriguing than the transaction’s immediate worth.

This will turn the 30-acre property into a cutting-edge data center per the company’s statement. Artificial intelligence will assist production technicians by analyzing the most comprehensive crop-cycle data yet made accessible for vine crops. As part of the Phase-1 development for the United States, the Rochelle site is the first section of the Plant’s 1000+ acre footprint that serves the Midwest. This comes before the previously revealed Northeast Florida site, where Plant is investing up to $1 billion in the construction of production facilities for the Southeast United States.

“The acquisition of MightyVine is a strategic transaction that is more about a wider solution than just being a stand-alone business opportunity,” according to Plant Chairman and Chief Executive Officer Karim Giscombe, who has been advocating for the need for systemic adoption of Controlled Environment Agriculture at the federal government level. Without a linked and accessible data framework, according to Giscombe, a former director at Bank of America Merrill Lynch and an outsider to the business, all food supply chains are in jeopardy. “We are investing in infrastructure alongside the government because modernized infrastructure is essential for agriculture as we know it. That is what sets us apart. The issue arises when you don’t genuinely value that relationship.”

MightyVine-branded tomatoes will continue to be available in the greater Chicago area. Consumers can expect the full transition to be complete in early 2023 with the enhanced product to be available in the market for the summertime cook-outs for which the Midwest is famous.

Image provided by MightyVine

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