Fast Growing Trees Completes Acquisition of The Planting Tree

FORT MILL, S.C., July 8, 2021 /PRNewswire/ -- Fast Growing Trees ("FGT"), a portfolio company of Summit Park, is pleased to announce the acquisition of The Planting Tree, an e-commerce direct-to-consumer ("DTC") provider of trees, shrubs, grasses, and perennials to customers located across the continental United States. Since its founding in 2014, The Planting Tree has developed a strong brand and a loyal customer base due to its broad assortment of high-quality products and rapid fulfillment capabilities.

Headquartered in Fort Mill, SC, FGT is the market-leading e-commerce DTC provider of live goods – predominantly trees and shrubs – going to market under its Fast Growing Trees and Brighter Blooms brands. Summit Park invested in FGT in February 2018.

Adam Smith, CEO of Fast Growing Trees, said, "We are excited to add The Planting Tree's strong brand and loyal customer base to the FGT platform. The Planting Tree will allow FGT to grow its product portfolio and reach new customer demographics. Throughout our 17-year history, the Fast Growing Trees brand name has been known for unmatched quality, assortment, and customer service, and we are looking forward to providing this same level of service to The Planting Tree customers."

Mike York, a Principal at Summit Park, added, "We are very pleased to add The Planting Tree to our portfolio of DTC brands in the live goods industry. The Planting Tree's products are highly complementary to FGT, and we are optimistic that we can leverage our marketing and customer service capabilities as well as our supply chain to materially accelerate the brand's growth." 

About Fast Growing Trees

Fast Growing Trees offers consumers a broad variety of high-quality trees and shrubs through its websites fast-growing-trees.com and brighterblooms.com. The company provides customers with a best-in-class e-commerce experience and access to over 1,100 products that are available for delivery, typically within two days of placing an order. FGT sources its products from a geographically diverse network of trusted suppliers and has built a reputation in the marketplace for offering high quality products and superior customer service. The company's differentiated consumer experience is disrupting traditional channels in its large and steadily growing category. For more information, visit www.fast-growing-trees.com.

About Summit Park

Summit Park is a Charlotte, NC-based private investment firm focused exclusively on the lower middle market. The firm invests across a range of industries, including business and consumer services, light manufacturing, and value-added distribution in the Eastern half of the United States. The firm's capital can be used to facilitate a change in ownership, to support expansion and growth, to provide partial liquidity to existing owners, or to support an industry consolidation plan. For more information, visit www.summitparkllc.com.

Point of Contact: Liz Kettler, [email protected]

SOURCE SPP Management Services

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