Food & Beverage: Costa Buys Mushroom Grower
PE-backed Costa will buy Adelaide Mushrooms’ production complex and farms
Produce grower Costa Group will buy Adelaide Mushrooms for an undisclosed amount.
The deal includes Adelaide’s Monarto production complex in South Australia, farms in Tasmania and mushroom center at the Adelaide markets.
Adelaide sells its mushrooms to supermarkets, institutions and food-service operations across Australia. Its Monarto complex includes 30 growing rooms, 26,000 square meters of growing space and 20,000 square meters of composting space.
Victoria, Australia-based Costa grows, packages, ships, markets, imports and exports produce.
Private equity firm Paine & Partners LLC , which owns Costa, focuses on the food and agribusiness sector. The firm, headquartered in San Mateo, Calif., has also invested in Icicle Seafoods Inc., Eurodrip and R360 Environmental Solutions.
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