M&A Deal Summary

Artemis Capital Partners Acquires Bridge Farm Nurseries

On May 15, 2020, private equity firm Artemis Capital Partners acquired agriculture company Bridge Farm Nurseries from Sundial Growers for 105M USD

Acquisition Highlights
  • This is Artemis Capital Partners’ 1st transaction in the Agriculture sector.
  • This is Artemis Capital Partners’ largest (disclosed) transaction.
  • This is Artemis Capital Partners’ 2nd transaction in the United Kingdom.

M&A Deal Summary
Date 2020-05-15
Target Bridge Farm Nurseries
Sector Agriculture
Buyer(s) Artemis Capital Partners
Sellers(s) Sundial Growers
Deal Type Divestiture
Deal Value 105M USD

Target

Bridge Farm Nurseries

Lincolnshire, United Kingdom
Bridge Farm Nurseries is a producer of ornamental plants, flowers, and herbs. It works with major UK supermarkets under the brand name Neame Lea, the 2017 UK Grower of the Year. Bridge Farm’s core supermarket customer base, which includes Tesco and Aldi, is growing faster than the overall market as supermarkets increase garden ranges targeting shoppers buying for convenience or on impulse, and accordingly securing a greater share of the market. Bridge Farm Nurseries was formed in 1988 and is based in Lincolnshire, United Kingdom.

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Buyer(S) 1

Buyer

Artemis Capital Partners

Boston, Massachusetts, United States

Investor Investor Investor

Category Private Equity Firm
Founded 2010
Size Small
Type Sector Agnostic
DESCRIPTION

Artemis Capital Partners is a private equity firm focused on buyouts and growth equity investments in industrial technology businesses. Artemis likes businesses with unique and defensible products, technology and/or intellectual property. Specific areas of interest includes industrial automation and software, life sciences laboratory automation and software, controls, devices, sensors and instrumentation. Target companies generate revenues of $2 to $50 million and at least $500k of EBITDA. Artemis is based in Boston, Massachusetts.

DEAL STATS #
Overall 10 of 17
Sector (Agriculture) 1 of 1
Type (Divestiture) 1 of 1
Country (United Kingdom) 2 of 2
Year (2020) 2 of 4
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-03-27 BioDot

Irvine, California, United States

BioDot, Inc. is a manufacturer of automated ultralow volume fluid dispensing systems. BioDot's wide range of platforms serves customers from R&D through high volume manufacturing in the industrial, diagnostic, life science, and medical product markets BioDot was founded in 1994 and is based in Irvine, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-09 Tekscan

Norwood, Massachusetts, United States

Tekscan is a manufacturer of flexible, ultra-thin sensors and systems that has been at the forefront in the research and development of ultra-thin force and pressure sensing technology to create differentiated products or improve clinical and research outcomes. With a wide range of applications, a strong patent portfolio, and proprietary technology. Tekscan has developed a diversified business of customers within test and measurement, medical, dental, and retail industries, whether as stand-alone solutions or as an embedded technology. Tekscan was formed in 1981 and is based in Norwood, Massachusetts.

Buy -

Seller(S) 1

SELLER

Sundial Growers

Calgary, Alberta, Canada
Category Company
Founded 2006
Sector Consumer Products
Employees394
Revenue 61M USD (2020)
DESCRIPTION

Sundial Growers is a licensed producer that crafts cannabis using state-of-the-art indoor facilities. Sundial Growers was incorporated in 2006 and is headquartered in Calgary, Canada.

DEAL STATS #
Overall 1 of 1
Sector (Agriculture) 1 of 1
Type (Divestiture) 1 of 1
Country (United Kingdom) 1 of 1
Year (2020) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-05 Bridge Farm Nurseries

Lincolnshire, United Kingdom

Bridge Farm Nurseries is a producer of ornamental plants, flowers, and herbs. It works with major UK supermarkets under the brand name Neame Lea, the 2017 UK Grower of the Year. Bridge Farm’s core supermarket customer base, which includes Tesco and Aldi, is growing faster than the overall market as supermarkets increase garden ranges targeting shoppers buying for convenience or on impulse, and accordingly securing a greater share of the market. Bridge Farm Nurseries was formed in 1988 and is based in Lincolnshire, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-05 Inner Spirit Holdings

Calgary, Alberta, Canada

Inner Spirit Holdings is a retailer and franchisor of Spiritleaf recreational cannabis stores across Canada. The Spiritleaf network includes 86 franchised and corporate-owned locations, all operated with an entrepreneurial spirit and with the goal of creating deep and lasting ties within local communities. Spiritleaf aims to be the most knowledgeable and trusted source of recreational cannabis by offering a premium consumer experience and quality curated cannabis products. Inner Spirit Holdings was founded in 2017 and is based in Calgary, Alberta.

Buy CA$131M
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