Portfolio News

The Packer: BrightFarms building fifth greenhouse



BrightFarms plans to open Texas facility

The Packer
By Chris Koger

BrightFarms plans to build its newest greenhouse, which will be its fifth, in Abilene, Texas.

The 195,000-square-foot facility is slated to begin supplying herbs and salad greens to area grocery stores in early 2019, according to a news release.

Demand for local produce is boosting BrightFarms’ sales incrementally, according to the release, with 3% new category buyers and 22% category growth.

CEO Paul Lightfoot said retailers are finding that meeting demand for local produce is challenging. Year-round local production at BrightFarms facilities is solving that problem in markets the company serves, Lightfoot said in the release.

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Portfolio News

Reputation Institute releases RepTrak 100 list of world’s most reputable companies

Google is up and Apple is down in the annual Global RepTrak 100 report put out by Catalyst-backed Reputation Institute. Companies’ scores are down by an average of 1.4 points; 58% of companies in the report saw a significant drop in rankings. Results reflect macroeconomic trends — more than in previous years consumers are judging companies on their actions, not the bottom line, and supporting those that are ethically responsible.

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Portfolio News

Reputation Institute expands in APAC

Catalyst portfolio company Reputation Institute opened new offices in Australia and New Zealand. The expansion enables RI to raise its game in the APAC region, allowing the team to better serve its clients and create significant opportunity to further drive the company’s growth.

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