Kent-based vertical farming company GrowUp Farms has been rescued from administration by private equity firm Sun Capital Ltd in a pre-packaged deal on 16 December. As a result, the company’s operations have been unaffected.
The move came after former parent company GrowUp Group Limited experienced difficulties securing new capital in what it described as ‘a challenging controlled environment agriculture investment landscape’. According to media reports the company had burnt through £140 million of previous investment from US-based Generate Capital. The Grocer reported that recent losses escalated sharply, with pre-tax deficits exceeding £22 million on revenues of less than £3 million in the year to the end of December 2024.
The deal returns the B Corp Certified company to its former CEO Marcus Whately who previously ran the company for six years until November 2024. It also secures 83 jobs at the company’s Pepperness production facility at Sandwich in Kent, although 30 staff have been made redundant in total.
Rick Harrison, managing director at Interpath and joint administrator, said, “The investment landscape within controlled environment agriculture has been difficult, with notable challenges in the sector in the UK. Against this backdrop, we are pleased to have secured a transaction that places GrowUp Farms under new ownership and with fresh investment.”
Fellow joint administrator Thomas Swiers, director at Interpath and food & drink sector lead, added that the sale reflects continued retailer interest in strengthening domestic supply chains through onshoring food production.
Founded in 2013, GrowUp farms supplies a number of UK retailers with pre-packed salad products including the Unbeleafable and Fresh Leaf Co. brands.
