October 10, 2023

By Lynda Kiernan-Stone, Global AgInvesting Media

Boston-based Solum Partners has made an undisclosed investment in North American berry plant propagator Nourse Farms, creating a partnership that will position the company to better accelerate its growth and modernize its propagation footprint. 

In business for more than 90 years, what began as a strawberry nursery serving local growers has grown to be an internationally recognized producer and seller of nursery strawberry, raspberry, blueberry, and blackberry plants for global commercial fruit growers and resellers. 

Nourse Farms is one of the early innovators in North America of the propagation of tray plant strawberries and long cane brambles. It plans to intensify its focus on these products, innovation, and quality to support its ability to meet rapidly increasing interest and demand. 

“Our top priority is to ensure that every plant grown by Nourse Farms continues to meet the highest standards of quality and performance,” said John Place, CEO, Nourse Farms.

“We understand how important it is for growers to be able to trust that high-quality, high-performing plants will be available where and when they need them. Our customers will receive the same remarkable plants and customer service they have come to expect from us over the many decades in business.”

The company’s approach to strategic growth includes the addition of a modern tissue culture laboratory and a seven-acre greenhouse for foundation material, located in Whately, Massachusetts. Additionally, the company has acquired a 15-acre greenhouse in North Carolina as part of its expansionary vision. All facilities are scheduled to be open in 2024.

“We believe that the future of berry production will demand more substrate-grown plants,” noted Place. “After spending the last several years developing our substrate production processes, we are excited to expand this area of the business and are confident that we will maintain the same level of trust with our valued customers.”

Solum

Making these plans by Nourse Farms possible is Solum Partners, which was founded at the height of the pandemic in October of 2020, when Harvard University’s $41.9 billion endowment spun off its natural resources portfolio and team into a new independently managed firm focused on investment opportunities in the global agriculture and food spaces.

Under its own mandate, Solum takes a hands-on approach and targets large-scale, efficient ag production assets that present potential for vertical integration into distribution and marketing channels. The process and approach taken by Solum’s team of professionals, led by CEO Colin Butterfield, takes a hands-on approach and focuses on the formation of local partnerships with top operators with the goal of achieving operational excellence underpinned by comprehensive ESG initiatives. 

In April 2023, Solum announced the close of its Fund II oversubscribed at $850 million. Continuing as a channel for successful partnerships, Fund II invests on a global scale in production assets across a range of crop types including coffee, almonds, apples, avocados, berries, and olive oil. 

Through its capital investments, Solum extends its commitment to supporting local communities in which it is active, and aims to be a driver of sustainable impact through portfolio management – a mandate to which Nourse Farms is in alignment. 

“I’m pleased to see the berry plant propagation business continuing to advance and evolve with the needs of berry growers,” said Tim Nourse, Board Chair, Nourse Farms.

“Berry growers around the world are facing unprecedented challenges and we are excited to support their adoption of more sustainable growing practices. I have been farming my entire life and the one constant is change. This is an exciting time for our team and for the industry!”

~ Lynda Kiernan-Stone is editor in chief with GAI Media, and is managing editor and daily contributor for Global AgInvesting’s AgInvesting Weekly News and  Agtech Intel News, as well as HighQuest Group’s Unconventional Ag. She can be reached at lkiernan-stone@globalaginvesting.com.

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