January 14, 2025

By Gerelyn Terzo, Global AgInvesting Media

Baden Capital, a San Francisco, California-based private investment firm specializing in food, ag and water in the Western U.S., has set its sights on the farming community. Founded in 2022, Baden Capital has acquired plant protection specialist ORCAL, a Junction City, Oregon-domiciled company that designs and manufactures proprietary crop protection products to bolster yields.

Baden is purchasing 100 percent of ORCAL, which is located in the heart of the Willamette Valley, but is keeping the size of the transaction close to the vest. The deal aligns with Baden Capital’s strategy to back companies that provide essential services and products to the ag sector. According to The Wall Street Journal, the private equity industry was sitting on $500 billion in dry powder as of Q1 2024 from funds that were closed in recent years, capital that is expected to come off the sidelines in 2025.

Baden Capital Partner Josh Guggenheim, who also has a seat on ORCAL’S board of directors, spent some time with GAI News. He told us that Baden was drawn to ORCAL for a myriad of reasons, particularly the company’s differentiated, proven products that customers appreciate, a skilled team, and great opportunity to grow by selling existing products in new regions and developing new products.

ORCAL’S products include snail and slug baits as well as organic fungicide, insecticide and miticide formulations, solar protectants, and chilling solutions for crops. ORCAL formulates and packages solutions for several high-profile brands, including The Scotts Miracle Gro Company, Bonide Products, Central Garden & Pet, VPG and Southern Ag.

“We like that many products are organic and that many products help farmers adjust to climate change by reducing heat stress and increasing water efficiency,” said Guggenheim.

The deal’s origin harkens back to ORCAL President Steve Horn’s desire to bring the company to the next level. In order to do so, he was looking for a partner with both ag chemical industry experience and financial expertise/resources — two boxes that Baden Capital checked. As a former agronomist at fellow ORCAL backer Wilbur Ellis, Baden Capital Operating Executive Brandon Rebiero brings a wealth of industry experience. Guggenheim boasts a valuable set of financial skills, drawing on his investment experience at Lightview Capital and Gold Leaf.

Of the deal, Guggenheim stated, “We are thrilled to be able to invest in ORCAL. We firmly believe in ORCAL’s mission to deliver critical, differentiated products to America’s farmers. We look forward to working collaboratively with the ORCAL team for years to come.”

Baden Capital’s Rebiero said, “We are excited to take on this new chapter with ORCAL, a company dedicated to helping farmers grow better crops. I look forward to building on its mission and supporting farmers with solutions that add real value.”

Baden Capital considers the deal a significant milestone as it continues to target companies that are advancing innovation in farming. The companies expect the partnership to enhance ORCAL’S product lineup and bolster its capabilities to benefit growers and the wider ag industry.

*The content put forth by Global AgInvesting News and its parent company HighQuest Partners is intended to be used and must be used for informational purposes only. All information or other material herein is not to be construed as legal, tax, investment, financial, or other advice. Global AgInvesting and HighQuest Partners are not a fiduciary in any manner, and the reader assumes the sole responsibility of evaluating the merits and risks associated with the use of any information or other content on this site.