MIAMI and VIDALIA, Georgia, Dec. 11, 2019 /PRNewswire/ -- Optimum Agriculture (Optimum), a leading global agricultural company focused on land acquisition and management, today announced that Optimum ICD Holdings LLC has acquired 5,587 acres of farmland, processing facilities and the trademark Generation Farms, as well as other assets in Tattnall and Toombs counties, Georgia from Generation Farms, LLC and affiliates (Generation Farms). Terms of the transaction were not disclosed. From now on, all products and operations will be branded under the Generation Farms name.
Generation Farms grows, packs, and ships onions, watermelons, and other produce through its operations in and around Vidalia, Georgia. Optimum plans to continue these operations, including supplying many of Generation Farms' previous customers.
"We welcome the talented team at Generation Farms to the Optimum family. This acquisition is part of a long-term plan to maximize operational efficiencies by diversifying weather and harvest risks across states," said Gaston Marquevich, CEO of Optimum Agriculture. "Our short-term objective is to increase the utilization of the facilities by increasing production and to deliver a constant supply of food to retailers throughout the year."
Through this transaction, Optimum ICD Holdings LLC will vertically integrate their businesses by growing, packing and shipping fresh produce to some of the largest retailers across the US. Following the acquisition of Generation Farms, Optimum ICD Holdings LLC aims to expand the production line focusing on products such as onions, watermelons, sweet potatoes, green beans, cabbage and sweet corn.
A company with family values at its core, Generation Farms was formerly owned by the Stanley family with three generations of farming experience dating back to 1964. This heritage is combined with Optimum's proven track record in agriculture, whose success can be attributed to replicating family farming models that have been popular across Latin America for decades.
The Generation Farms transaction represents the third acquisition of Optimum ICD Holdings LLC in the US, following the acquisition of El Maximo Ranch and Island Pond respectively. Further information on Generation Farms can be found at www.generationfarms.com
SOURCE Optimum Agriculture