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On May 30, 2025, Vanguard Food, a privately-held joint-venture between Kennedy Lewis Investment Management, Sweat Equities, and Village Farms International, Inc. closed a transaction to privatize the majority of the fresh produce business of Village Farms International, Inc.
Village Farms retains ownership of its 30-acre Monahans and 20-acre Marfa I greenhouses, with Marfa I leased to Vanguard and adjacent to 950 acres of Village Farms-owned land, supporting potential future cannabis expansion. In Canada, Village Farms will continue operating its three Delta, BC greenhouses (totaling 110 acres) and enter long-term supply agreements with Vanguard.
Charlie Sweat, founder of Sweat Equities and former CEO of Earthbound Farm, will chair Vanguard’s Board, with Village Farms CEO Michael DeGiglio serving as interim CEO and board member. The transaction was unanimously approved by Village Farms’ board. FTI Capital Advisors, LLC and Torys LLP advised Village Farms, while Houlihan Lokey and Akin Gump Strauss Hauer & Feld LLP advised Sweat Equities. Cassels acted as Canadian counsel for Kennedy Lewis Investment Management.
Parties
Company
Village Farms International, Inc.
Company
Sweat Equities, LLC
Company
Kennedy Lewis Investment Management
Deal Type
Joint VentureIndustry
AgricultureTransaction
$ 54,800,000Deal Status
ClosedClosing Date
30 May 2025