Photo courtesy of Little Leaf Farms/Brian Riedel
Little Leaf Farms, which produces packaged lettuce sustainably grown through controlled environment agriculture, has announced its expansion in McAdoo, Pennsylvania, with a new greenhouse set to open this fall.
The new 10-acre greenhouse is the third greenhouse for Little Leaf Farms in the state and will make Little Leaf Farms' Pennsylvania campus the largest leafy greens CEA campus in North America, according to the company.
The 10 additional acres of greenhouse space will increase Little Leaf Farms' Pennsylvania staff count to more than 300 and support the company's expansion throughout the southeast and Midwest regions, increasing its retail presence to more than 7,000 grocery stores.
"With our latest expansion in Pennsylvania, which increases our total acreage and supports our progress toward our goal of reaching $200 million in retail sales this year, we are well positioned to continue to lead the CEA leafy green industry," says Paul Sellew, founder and CEO of Little Leaf Farms. "Importantly, it expands our commitment of bringing fresh, leafy greens to all."
Little Leaf Farms currently represents nearly 50% of packaged salad grown through CEA in the United States and is accessible to more than 53% of the country's population, a number that will continue to grow once the new greenhouse opens. The brand plans to open several more greenhouses in the future to continue to serve its growing consumer base.
Little Leaf Farms also recently closed a new credit facility with capacity of $250 million, comprised of term loan facilities, delayed draw facilities and a revolving credit line. The credit facility is a significant milestone supporting the brand's ongoing capital expansion initiatives as it continues to meet growing consumer demand.
The transaction was arranged with a syndicate of banks led by Bank of America, alongside banks within the Farm Credit System, demonstrating a strong commitment from the financial community to support Little Leaf Farms' growth trajectory.
"Securing this substantial credit facility marks a significant achievement for Little Leaf Farms as we continue to invest in expanding our operations and meeting the increasing demand for locally grown, sustainably produced lettuce," Sellew says. "This funding will enable us to accelerate our growth plans, further strengthening our position as a leader in the CEA industry."
"We are gratified to continue our longstanding partnership with Little Leaf Farms," said Randy Mitchell, senior vice president of Bank of America. "This transaction underscores our confidence in the company's vision and ability to execute its strategic initiatives. We remain committed to providing tailored financial solutions to support their continued success."
