Novacap invests in greenhouse vegetables business Mucci Farms

Canadian private equity firm Novacap has invested in Mucci Farms, a Kingsville, Ontario grower, packer and shipper of greenhouse vegetables. No financial terms were released. Established in 1963, the family-operated Mucci grows its own produce and helps market more than 700 acres of produce from other growers across North America. The company also operates warehouse and distribution facilities in Ontario and Michigan. President Bert Mucci said the partnership with Novacap will allow Mucci to focus on operations and growth. Mucci is the latest deal of Novacap Industries, one of the investor’s two sector-focused groups. Novacap Industries IV closed last year at $470 million.

PRESS RELEASE

Mucci Farms Announces Partnership with NOVACAP to Finance its Growth

KINSGVILLE, ON, May 23, 2017 /CNW Telbec/ – Mucci Farms (“Mucci”), one of the largest growers, packers and shippers of greenhouse vegetables in North America, is pleased to announce a partnership with NOVACAP, one of Canada’s leading private equity firms.

“We are very excited to be partnering with NOVACAP who, with its resources and expertise, will provide invaluable support to our company as we enter this next phase of growth.” said Bert Mucci, President of Mucci. “This partnership will allow us to focus on operations and growth as we aim to become the preferred quality supplier of our industry”.

Located in Kingsville, Ontario, Mucci grows its own produce and is involved in marketing over 700 acres of greenhouse produce from growers throughout North America. The company also operates warehouse and distribution facilities in Ontario and Michigan. Mucci is Kingsville’s largest employer with more than 1,200 full-time employees.

“This partnership is a great opportunity for NOVACAP to support a highly qualified management team and to partner with a leader in the industry” said Domenic Mancini, Senior Partner at NOVACAP. ”The company has an established track record and strong customer relationships and we are looking forward to working with the team and take the business to the next level.”

The company is adding capabilities to its Canadian operations with state-of-the-art equipment allowing them to produce high quality vegetables all year round, as well as building new and modern facilities in Ohio to provide a secure and healthy food supply to the consumer across all of its operations.

About Mucci
Mucci Farms is a multi-generation family business and a leader in the produce industry based in Kingsville, Ontario. Mucci is a grower, packer and shipper of produce across North America and is driven by the trust that consumers have shown them by bringing their products into their homes. For more information, visit www.muccifarms.com

About NOVACAP
Founded in 1981, NOVACAP is a leading Canadian private equity firm with over $1.6 billion of assets under management. The firm’s unique investment approach, based on deep operational expertise and an active partnership with entrepreneurs, has helped accelerate growth and create long-term value for its numerous investee companies. With an experienced management team and substantial financial resources, NOVACAP is well positioned to continue building world-class companies. For more information, visit www.novacap.ca.

For further information: Novacap: Lydia Veilleux, Senior Advisor, Communications & marketing, , 450 651-5000, ext. 225, lveilleux@novacap.ca; Mucci Farms: Emily Murracas, Marketing Coordinator, 519-326-8881, ext 1250, mmurracas@muccifarms.com

Photo courtesy of alvarez/E+/Getty Images