M&A Deal Summary

Cox Enterprises Acquires BrightFarms

On August 17, 2021, Cox Enterprises acquired food company BrightFarms from Catalyst Investors

Acquisition Highlights
  • This is Cox Enterprises’ 1st transaction in the Food sector.
  • This is Cox Enterprises’ 7th transaction in the United States.
  • This is Cox Enterprises’ 1st transaction in New York.

M&A Deal Summary
Date 2021-08-17
Target BrightFarms
Sector Food
Buyer(s) Cox Enterprises
Sellers(s) Catalyst Investors
Deal Type Add-on Acquisition

Target

BrightFarms

Irvington, New York, United States
BrightFarms is a provider of locally grown packaged salads, serving the freshest, tastiest, and most responsibly grown produce to consumers nationwide. BrightFarms operates hydroponic greenhouse farms in the communities it serves, enabling it to eliminate time, distance, and costs from the food supply chain. BrightFarms’ growing methods, a model for the future of scalable, sustainable local farming, use far less energy, land, and water than long-distance, field-grown agriculture. BrightFarms is based in Irvington, New York.

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Buyer(S) 1

Buyer

Cox Enterprises

Atlanta, Georgia, United States
Category Company
Founded 1898
Sector Diversified
Employees50,000
DESCRIPTION

Cox Enterprises is a global conglomerate with interests in communications, media, and automotive services. The company operates through its major subsidiaries, including Cox Communications, which is one of the largest broadband and entertainment companies in the United States, providing high-speed internet, digital television, and telephony services. Cox Automotive is another significant division, offering a wide array of automotive services and solutions, including vehicle remarketing, digital marketing, software solutions for automotive dealers, and financial services. Cox Media Group, although its portfolio has evolved over the years, has been involved in broadcasting, publishing, and digital media. Cox Enterprises was founded in 1898 and is headquartered in Atlanta, Georgia.

DEAL STATS #
Overall 7 of 10
Sector (Food) 1 of 1
Type (Add-on Acquisition) 4 of 7
State (New York) 1 of 1
Country (United States) 7 of 9
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-05 InSite Wireless Group

Alexandria, Virginia, United States

InSite Wireless Group LLC develops, owns, operates, and manages communications wireless infrastructure facilities primarily for the wireless and broadcast industries. InSite’s tower division is one of the largest privately-owned U.S. tower companies and develops, manages, owns, and operates approximately 1,500 telecommunications towers and sites for wireless carriers across the United States, Puerto Rico, the U.S. Virgin Islands, Canada, and Australia. InSite’s distributed antenna system (DAS) and small cell division specializes in the design, installation, operation, and maintenance of shared wireless infrastructure solutions that enhance the quality and capacity of wireless voice and data services in public facilities and complex environments. InSite Wireless Group was founded in 2000 and is based in Alexandria, Virginia.

Sell $3.5B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-03 Mucci Farms

Kingsville, Ontario, Canada

Mucci Farms is a second-generation fruit and vegetable grower. Vertically integrated from seed to retail, the company owns and operates greenhouse and warehouse facilities spanning the continent with a mission to deliver the highest quality of fresh produce in the market through innovation at all levels. Mucci Farms was founded in 2000 and is based in Kingsville, Ontario.

Buy -

Seller(S) 1

SELLER

Catalyst Investors

New York, New York, United States

Investor Investor Investor Investor Investor

Category Venture Capital Firm
Founded 1999
PE ASSETS 377M USD
Size Middle-Market
Type Sector Focused
DESCRIPTION

Catalyst Investors is a specialist private equity firm that targets investments in the media, communications and internet services industries. Specific areas of interest include, video and audio content and distribution, print and online publishing, out-of-home advertising, music publishing, wireless voice and data, wireless spectrum and other infrastructure, outsourced applications providers / software as a service (SAAS), subscription based services, and online advertising. Catalyst looks for the growth companies located in the US and Canada requiring $10 to $60 million in capital. Catalyst prefers businesses with 'high-margin economics', 'defensible market positions', and 'recurring revenues'. Catalyst was formed in 1999 and is based in New York.

DEAL STATS #
Overall 36 of 39
Sector (Food) 1 of 1
Type (Add-on Acquisition) 18 of 19
State (New York) 3 of 3
Country (United States) 34 of 37
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-06 Pax8

Greenwood Village, Colorado, United States

Pax8 is a provider of cloud platforms that modernizes the channel’s cloud journey with consolidated billing, automated provisioning, and industry-leading PSA integrations. Pax8 is based in Greenwood Village, Colorado.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-18 Clinicient

Portland, Oregon, United States

Clinicient provides web-based practice management systems for Outpatient Rehabilitation practices, giving physical therapy clinics patient scheduling, clinical documentation (EMR), billing and reporting software. Clinicient was founded in 1998 and is based in Portland, Oregon.

Sell -
Mergr

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