Blue Road Capital acquires NatureSweet

Blue Road typically makes investments worth $75m or more to secure its favored controlling or influential minority positions.

Blue Road Capital has acquired greenhouse vegetable grower NatureSweet from growth equity venture capital firm Silver Ventures. Financial details were undisclosed.

NatureSweet grows tomatoes, peppers and cucumbers across five greenhouses in Mexico, which are supported by the company’s in-house packaging facilities.

New York-based Blue Road Capital is exclusively focused on investments in food, beverage and agribusiness companies.

The firm is in market seeking to raise $750 million for its second flagship vehicle, which had taken at least $400 million by June 2021.

“We are confident in Blue Road’s ability to lead NatureSweet into a promising future,” said Bryant Ambelang, CEO of Silver Ventures and former executive chairman of NatureSweet, in a statement.

“They understand the value of this company lies in its people and are committed to the principles of growing the best-tasting produce through transforming the lives of agricultural workers. NatureSweet is transitioning into capable and caring hands.”

Blue Road’s strategy focuses on companies in North and South America and makes an average investment per transaction of $75 million or more, according to its website.

The firm prefers to take a controlling or influential minority position in its portfolio companies and is invested in businesses such as nut grower Diamond Foods, food distributor Vanguard International Group and baby leaves processor B&W Quality Growers, among others.

Blue Road has more than $1.2 billon in assets under management, according to Agri Investor’s database.