Arable Capital Partners has invested in branded organic packaged salads provider Organicgirl.
Financial details were undisclosed and the size of Arable’s equity stake in the business was not revealed.
The California-headquartered business delivers packaged salads to retailers across the US and “is dedicated to finding better ways to grow, package and deliver a wide variety of premium greens,” said a statement from Arable.
“This is exactly the sort of company we want to partner with,” said Arable Capital Partners managing director Derek Yurosek. “Organicgirl has already delivered on a big vision for packaged organic salads and we look forward to supporting expansion with its consumer, customer and product base. The current management team will continue to lead Organicgirl’s thriving business.
Arable Capital Partners manages a single fund called Arable Capital, in which the Washington State Investment Board is the sole investor.
The $156.6 billion pension added a $250 million commitment to its existing $300 million investment in the vehicle, according to WSIB’s 2022 September Investment Advisory.
“This will be a follow-on investment in a fund that originally started with a $300 million commitment from WSIB in May 2017. In this round, the WSIB will continue to be the sole source of funding for the vehicle,” the pension said.
Arable’s portfolio includes irrigation services provider Laurel Ag & Water, which the firm created in 2018 after having previously acquired micro-irrigation technology provider Hydratec as well as Lodi Pump & Irrigation and Universal Irrigation.
The firm also manages investments into Los Angeles-headquartered Pacific Trellis Fruit and Royal Ridge Fruits, which supplies conventional and organic cherries, blueberries, raspberries and other fruit from its headquarters in Royal Ridge, Washington.
The fund manager is also invested in Blazer Wilkinson Gee, which is a grower, packer and shipper of strawberries in the US.
Arable Capital Partners total assets under management was worth more than $550 million in July 2022, according to a statement from the firm.