Insight Equity said Monday that it has acquired a controlling stake in BFN Operations, which has bought nearly all the operating assets of the Berry Family of Nurseries. Financial terms were not announced. Insight Equity is a Dallas PE firm. Tahlequah, Okla.-based BFN is a wholesale grower of perennial and woody ornamental plants.
Insight Equity II LP (“Insight Equity”), a Dallas, Texas-area private equity fund, is proud to announce its acquisition of a controlling interest in BFN Operations LLC, which purchased substantially all of the operating assets of the Berry Family of Nurseries, including Tri-B, Zelenka, Judkins, and Zelenka West nurseries (“BFN”). BFN is now one of the nation’s largest wholesale growers of perennial and woody ornamental plants with locations across the country. BFN serves both big box retail stores and independent nurseries from its thirteen growing facilities throughout the United States.
Conner Searcy, a Partner at Insight Equity, commented, “BFN is now the market leader in the wholesale nursery perennials and woody ornamentals industry and this transaction solidifies the company’s business and positions it for growth. It is a testament to the strength of the business that in the last few years, it has grown and gained market share in an industry that has experienced a tremendous amount of turbulence.”
“We believe this transaction positions BFN to succeed and grow while maintaining a commitment to delivering excellent customer service and superior quality”, remarked Bob Berry, CEO of BFN.
Chris Zugaro, a Vice President at Insight Equity, stated, “We have been investigating the wholesale nursery sector for some time, and are excited about this investment and working with BFN’s industry-leading management team to build long-term value. Insight Equity and BFN are committed to the nursery business and look forward to considering further investments in the space in the future.”
BFN is now one of the nation’s largest wholesale growers of perennial and woody ornamental plants. BFN serves both big box retail stores and independent nurseries from growing facilities in Oklahoma, Florida, Michigan, North Carolina, Tennessee and Oregon. BFN is headquartered in Tahlequah, Oklahoma.
About Insight Equity
Insight Equity (www.insightequity.com) makes controlling investments in strategically viable, middle market, asset intensive companies across a wide range of industries. Insight Equity specializes in partnering with companies in complex and challenging situations, including corporate divestitures, bankruptcies, restructurings, and private family ownership. The firm leverages a proven, collaborative value creation model to facilitate operating enhancements and growth.