Former CEO Rescues GrowUp Farms In Pre-Pack Administration Deal
Britain’s largest vertical farming operator, GrowUp Farms Limited, has been bought out of
administration through a pre-packaged sale arranged by its former chief executive,
sources including The Grocer have reported.
The parent company, GrowUp Group Ltd, entered administration on 16 December after
appointing insolvency specialists Interpath to find a way forward for the business amid
mounting financial pressures.
Marcus Whately, who led the business for six years until late 2024, acquired the core
operational unit — including its flagship vertical farm in Sandwich, Kent — with backing
from private equity investor Sun Capital Partners. The deal secures continued operations at
the Kent facility and safeguards 83 existing jobs tied directly to farm activities.
The restructuring follows an extended period of heavy investment in controlled
environment agriculture (CEA), with the group having raised roughly £140 million,
predominantly from US investor Generate Capital, including a £38 million round in mid-
2024. Despite this capital, losses escalated sharply, with pre-tax deficits exceeding £22
million on revenues under £3 million in the year to the end of December 2024.
As part of the administration process, around 30 employees at the group level were made
redundant, with a further 12 transferring to the new ownership. Senior managers, including
the incoming CEO appointed in 2024 and the UK managing director, have left as part of the
transition.
GrowUp Farms, founded in 2013 and recognised as an early UK supplier of year-round
bagged salad to major supermarkets, will continue to supply produce to the retail sector
under the new structure.
The pre-pack agreement underlines ongoing turbulence within the CEA sector, which has
seen several high-profile collapses internationally.
https://sofortcasinos.com aside, what strikes me about this pre-pack is how it mirrors the broader pattern in CEA where massive capital raises don't translate into viable margins, and the £22 million loss on under £3 million revenue really underscores that disconnect. Whately stepping back in with Sun Capital backing suggests the Kent facility still has real operational value even if the parent structure didn't. I've watched a few vertical farming ventures struggle with the same energy cost problem, and it usually takes an insider who knows the specific facility to make the numbers work after restructuring.