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Fresh Origins
Realized
Fresh Origins is a leading grower of microgreens and edible flowers in North America, primarily serving the foodservice market.
How We Partnered
Situation:
Existing LPs in 2010 vintage fund were looking for liquidity from the fund’s two remaining assets; LPs willing to sell for a 15% discount to 3/31/21 NAV or 38% discount to 12/31/19 NAV in order to fully exit the end-of-life fund
Structure:
Two-asset continuation vehicle with a 3 year term and dry powder to support acquisitions.
Headquarters:
San Marcos, CA
Stage:
Realized
Business Model:
Specialty Manufacturing
Sponsor:
LaSalle Capital
Investment Date:
December 2021
Investment Thesis
Attractive pricing during Covid pandemic with strong visibility on rebound
Strong organic revenue growth and EBITDA margin expansion
Market leader with the best brand recognition
Nascent industry with a strong growth rate
Strong GP alignment
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