Open Prairie Rural Opportunities Fund Records First Exit with Sale of Legacy Seed Companies
EFFINGHAM, Ill., June 9, 2021 /PRNewswire/ -- The Open Prairie Rural Opportunities Fund, a growth-stage private equity fund dedicated to providing capital for agribusiness companies throughout rural America, proudly announces its first exit with the sale of Legacy Seed Companies. Open Prairie's initial investment in July 2018 facilitated the Legacy Seed Companies strategy for integration of regional seed companies with an emphasis on non-GMO and organic product lines.
"The growth of Legacy Seed Companies is a compelling testament to the potential of rural American companies," stated Lee Strom, partner at Open Prairie. Strom went on to say, "Over the last three years, Open Prairie has worked with Legacy Seed Companies to successfully achieve operational efficiencies through implementation of new technology infrastructure, expansion of its geographic footprint within the upper Midwest and enhancement of its team with the addition of talent at all levels of the organization including Colin Steen as Chief Executive Officer. Leveraging its research and development capabilities, Legacy Seed Companies has also partnered with global leaders in the branded food and animal nutrition sectors to capitalize on demand trends for better quality, sustainability and transparency throughout the agricultural supply chain. These activities have resulted in market share gains and top-line revenue growth, positioning the company on a solid foundation for the future."
In these challenging times, the exit of Legacy Seed Companies generated a positive return for the partners in the Open Prairie Rural Opportunities Fund and achieved the goal of enabling sustainability, productivity, profitability and prosperity for today's agriculture and rural America. Open Prairie founder and managing partner Jim Schultz stated, "with eleven companies in the Open Prairie Rural Opportunities Fund, we continue to build a strong portfolio of investments like Legacy Seed Companies that are developing innovative products and technologies that will have a lasting impact on agricultural and rural American economies."
About Open Prairie
Open Prairie, based in the heartland of America with headquarters in Effingham, Illinois, is a multi-faceted private equity fund management firm with deep roots in rural America. For more than twenty years, Open Prairie has consistently focused on facilitating capital accessibility in underserved markets. The Open Prairie team has managed funds ranging from technology-based venture capital to farmland portfolios. Through its expertise across all functional business disciplines and an extensive network of professionals, Open Prairie works in partnership with its portfolio companies to accelerate growth while providing top tier returns to its investors. For more information about Open Prairie, please visit www.openprairie.com.
About the Open Prairie Rural Opportunities Fund
The Open Prairie Rural Opportunities Fund is an $81 million private equity fund licensed by the US Department of Agriculture (USDA) as a Rural Business Investment Company (RBIC). With a collaborative partnership comprised of investors from Farm Credit institutions, commercial and community banks, strategics, family offices and high net worth individuals committed to advancing rural America, the Open Prairie Rural Opportunities Fund is focused on providing debt and equity capital of $2 - $10 million to growth companies in food and agriculture. For more information on the Open Prairie Rural Opportunities Fund, please visit www.openprairie.com.
About Legacy Seed Companies
Legacy Seed Companies is a holding company that currently includes two brands – DF Seeds and Legacy Seeds. With a stated commitment to regenerative agriculture, and a mission to search out seed opportunities, Legacy Seed Companies focuses on a Food and Feed strategy that begins at the table with consumer demand and delivers results for producers while supporting rural communities. The company plans to operate acquired organizations as standalone entities with collaborative services and shared research and development. The company, number three in U.S. Alfalfa sales and a leader in the specialty soybean market, also offers unique product lines in corn and wheat including non-GMO and organic options. For more information about the mission, products, and services, visit www.legacyseeds.com or www.dfseeds.com.
SOURCE Open Prairie
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