PFG Holding Corporation on Tuesday said it is the successful bidder in a foreclosure auction for the assets of Pro Farm Group, Inc. The auction, held on Jan. 20, sets the stage for a transition of ownership expected to close on Feb. 18.
The acquisition marks a new chapter for Pro Farm Group, a specialist in biological agricultural solutions, providing the company with a simplified capital structure and renewed financial backing.
In a move to reassure stakeholders, PFG Holding Corp emphasized that the transition is not expected to impact the day-to-day roles or employment status of Pro Farm’s workforce. Furthermore, the new owners intend to:
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Honor all existing commercial contracts.
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Continue operations in the ordinary course of business.
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Maintain service levels for global growers and retail partners.
“We believe in Pro Farm’s potential as a fully integrated innovation and commercial leader in biologicals,” Noah Kolatch, principal at Jasper Lake Ventures One LLC, the majority shareholder of PFG Holding Corporation, said. “Our immediate priority is continuity—maintaining service levels for customers, being a reliable partner to suppliers, and supporting and retaining the talented people who make Pro Farm successful.”
Pro Farm Group has built a reputation for developing biological inputs that help growers improve crop yields and soil health. PFG Holding Corp, backed by a group of long-term investors with extensive experience in specialty agricultural inputs, plans to invest additional resources to build upon this foundation.
The ownership group’s strategy focuses on providing the necessary capital to ensure a smooth transition while fostering long-term growth in the competitive biologicals market.
