Cincinnati Business Courier: BrightFarms expands to Ohio

Greenhouse startup opening $10M Greater Cincinnati facility to supply major grocery chains

Cincinnati Business Courier

By Andy Brownfield

A New York-based greenhouse startup is expanding its operations to Ohio, opening a $10 million Greater Cincinnati facility to supply large grocery chains in the region.

Ohio native Nick Chaney is moving back to his home state from Rochelle, Ill., to head up operations at the BrightFarms greenhouse in Wilmington, Ohio.

“BrightFarms is really centering their business around local,” Chaney told me. “We’re very community oriented, and we want to keep produce close.”

Chaney said the average time from cutting the produce until it appears on store shelves is 24 hours. That compares to up to seven days when you have large farms shipping produce across the country.

The Wilmington greenhouse is BrightFarms’ fourth, behind the original concept greenhouse in Pennsylvania, one in Northern Virginia and one in Rochelle. He declined to say how much the company invested in the Ohio greenhouse, but said that the average BrightFarms greenhouse takes between $10 million and $15 million in capital.

Read more…

News

Forbes: The World’s Most Reputable CEOs 2018

Created:

Catalyst-backed Reputation Institute released its inaugural CEO RepTrak highlighting the most reputable CEOs worldwide. Google’s Sundar Pichai topped the list with Campbell’s Denise Morrison and Nintendo’s Tatsumi Kimishima receiving honorable mentions.

Catalyst to exit WeddingWire investment

Created:

“In 2011, WeddingWire was our first Fund III investment and since the beginning, we benefitted from a great partnership with the Company’s management team,” said Ryan McNally, partner and co-founder of Catalyst Investors. “In the seven years that we have worked together, WeddingWire increased its revenues tenfold, expanded beyond the U.S. into 15 countries around the world, and grew to 950 employees. None of this would have happened without an exceptional management team. We wish them well as they continue to grow the business.”