Partnership with Farm Credit and USDA Rural Business Investment Program Marks Fund's Fifth Investment
ST. LOUIS, Sept. 3, 2015 – Advantage Capital Agribusiness Partners, LP (ACAP) has announced an investment in Shenandoah Growers, the largest provider of certified organic herbs in the U.S. specializing in supplying retail grocers. Based in Harrisonburg, Va., Shenandoah Growers produces and sells both live potted herbs and fresh cut herbs to some of the nation's largest retailers, from Wal-Mart to Whole Foods and Wegmans to Kroger. ACAP invested in Shenandoah alongside food and agriculture equity groups Middleland Capital and S2G Ventures.
"The Rural Business Investment Company is a new and innovative way to encourage more private sector investment in rural America," said U.S. Secretary of Agriculture Tom Vilsack. "Matching private investors with small businesses in rural communities helps companies get the capital they need to grow and create jobs. We are excited to see this fund continue to support businesses like Shenandoah Growers and look forward to seeing more partnerships like this come to fruition in the coming months."
Founded in 1990, Shenandoah Growers' vision is to bring fresh organic culinary herbs to stores across the U.S. The company's substantial evolution is evident in its growth from a packaging facility that was less than 1,000 square feet in 1998 to operating in a 213,000-square-foot greenhouse today.
"We are true entrepreneur farmers committed to being a part of America's healthy food movement and passionate about providing the finest produce possible," said Timothy Heydon, President and CEO at Shenandoah Growers. "This important investment allows us to expand our use of state-of-the-art greenhouses in Virginia, enabling us to increase our production of quality organic herbs for American families."
ACAP is a $154.5-million fund that is licensed by the U.S. Department of Agriculture (USDA) as a Rural Business Investment Company (RBIC). The fund is a partnership between Advantage Capital Partners and nine Farm Credit organizations, established to bring together resources and people focused on providing more private capital, small business investment and quality jobs to rural America.
"Shenandoah Growers' dedication, innovation and passion for controlled, sustainable agriculture have been key to its success over the past 25 years," said Tyler Mayoras, Principal at Advantage Capital Partners. "We are excited about the investment opportunity and looking forward to seeing continued growth at Shenandoah Growers."
Previously announced investments made by ACAP include funding for Pacific Ag in August 2015, Hortau in June 2015, North American Natural Resources, Inc. (d/b/a American Botanicals) in March 2015 and Iowa Cage-Free, LLLP in February 2015.
About Shenandoah Growers
Shenandoah Growers' story began over 20 years ago as entrepreneur farmers with a vision of bringing fresh culinary herbs to the eastern U.S. Since then, the company has become a leading provider of fresh herbs in the U.S., specializing in supplying the retail grocer. The company is actively committed to being part of America's healthy food movement and aims to provide 100 percent natural, regionally grown, sustainably farmed fresh herbs to its customers who supply the kitchens and tables of the American family.
About Farm Credit
Farm Credit supports rural communities and agriculture with reliable, consistent credit and financial services, today and tomorrow. Farm Credit has been fulfilling its mission of helping these areas grow and thrive for a century by providing farmers, ranchers and others in rural America with the capital they need to make their businesses successful and by financing vital infrastructure and communication services. Because a steady flow of capital means more jobs and economic growth, Farm Credit is able to invest in the vibrancy of communities throughout rural America. For more information about Farm Credit, visit www.farmcreditnetwork.com
About Advantage Capital Agribusiness Partners, LP (ACAP)
Advantage Capital Agribusiness Partners, LP (ACAP) is a $154.5-million fund that is licensed as a Rural Business Investment Company (RBIC) by the U.S. Department of Agriculture (USDA), which focuses on businesses involved in the production, processing and supply of agricultural products. It is a partnership between Advantage Capital Partners and nine Farm Credit organizations: AgCountry Farm Credit Services (Fargo, N.D.); AgStar Financial Services (Mankato, Minn.); AgriBank (St. Paul, Minn.); Capital Farm Credit (Bryan, Texas); CoBank (Denver, Colo.); Farm Credit Bank of Texas (Austin, Texas); Farm Credit Services of America (Omaha, Neb.); Farm Credit Services of Mid-America (Louisville, Ky.); and United FCS (Willmar, Minn.). The Farm Credit System is a nationwide network of banks and lending institutions federally chartered to serve agriculture and the U.S. rural economy.