Key Takeaways:
- Yasai, a pioneer in vertical farming, will be integrated into GreenState, a leading player in the industry.
- The merger combines the strengths of both companies, enhancing production capacity and market reach.
- Yasai will maintain its brand and operations while expanding its product line under the GreenState umbrella.
- Founders of Yasai will retain operational roles, with GreenState’s CEO taking the lead after integration.
- The partnership aims to capitalize on the strengths of both companies to advance sustainable indoor farming solutions.
Yasai’s Product Line Becomes Part of GreenState
Yasai, an ETH spin-off known for supplying major retailers with herbs from its vertical farm in Niederhasli since 2022, will be integrated into Winterthur-based GreenState. The financial details of the acquisition remain confidential. This merger brings together two Swiss pioneers in vertical farming: Yasai, founded in 2020, which supplies Coop and other clients, and GreenState, founded in 2021, whose products have been successfully sold in Manor stores since January. Yasai’s brand and operations will continue unchanged, with GreenState’s products from Neuhausen also being marketed under the established Yasai brand.
Combining Forces for Enhanced Capabilities
The acquisition marks a significant step forward for both companies. Yasai’s founders, Stefano Augstburger, Mark Essam Zahran, and Philipp Bosshard, will continue in their operational roles within the combined entity. After the initial integration phase, Arsenije Grgur, Chairman and CEO of GreenState, will assume the role of CEO of the group.
Stefano Augstburger, Chairman of Yasai, remarked, “The integration of Yasai into GreenState is a classic win-win situation: we gain access to liquidity and growth potential, while GreenState leaps forward in realized production capacity and sales volume.”
Arsenije Grgur, CEO and Chairman of GreenState, added, “By integrating Yasai, we expand our production capacity and simultaneously gain an established sales channel. Additionally, we can implement our approach to the technical management of indoor farms in an established production environment.”
GreenState’s Innovative Approach
GreenState, established in early 2021, has produced basil and microgreens for retail in a repurposed SIG industrial hall in Neuhausen using its self-developed indoor farming modular system since January. The company also actively develops hardware and software solutions for the technical management of AI and big-data-supported indoor farming operations. Furthermore, GreenState offers its climate-friendly modular systems through a franchising model, broadening its market reach.
Yasai’s Commitment to Sustainability
Founded in 2020, Yasai operates a vertical farm in Niederhasli with around 14 employees. It supplies Coop, Farmy, and Jelmoli with locally and sustainably produced herbs. Yasai’s vertical farming system requires minimal water and operates without chemical pesticides. The year-round local production also reduces transportation emissions, aligning with environmentally friendly practices.
Image provided by Yasai
