Greenleaf Fresh Ceases Operations Amid Sale Process

Highlights:

• Greenleaf Fresh (ASX: GNF) has entered voluntary administration, shutting down operations.
• Administrators Grant Thornton are exploring the sale of the business as a whole.
• The Hamilton-based vertical farming company specializes in growing leafy greens, including lettuce and herbs.

At the time of writing, Greenleaf Fresh (NZX: GNF), a vertical farming business based in Hamilton, has entered voluntary administration, with its future now hanging in the balance. Grant Thornton’s Adele Hicks and David Ruscoe were appointed as administrators during the Christmas and New Year period. The directors of the company believed that administration would provide an opportunity for restructuring if sufficient funding could be secured.

The Business

Greenleaf Fresh, which operated under the trading name Greengrower, specialized in growing leafy greens such as lettuce, kale, rocket, herbs, and microgreens. The company’s vertically integrated farming model aimed to produce fresh, locally grown produce, but financial challenges have forced it to shut down.

Administration and Sale

Following the appointment of administrators, Greenleaf Fresh has begun the process of winding down its operations and is exploring the possibility of selling the business as a whole. The administrators are seeking potential buyers who can sustain and develop the company’s vertical farming operations.

Future Uncertainty
As the administrators work to find a buyer, the fate of Greenleaf Fresh remains uncertain. Stakeholders, including farmers and suppliers, are watching closely as the administrators navigate the next steps in the administration process.

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