One of the largest vertical farms in the U.S., Bowery Farming, has reportedly ceased all operations.
All employee sites, including indoor farming facilities, will be closed and employees laid off effective immediately, according to a document seen by PitchBook and multiple company employees.
At its peak, New York-based Bowery was valued at $2.3 billion and raised more than $700 million in venture capital from high profile firms and celebrities such as Justin Timberlake, Natalie Portman and Lewis Hamilton.
Bowery Farming grew leafy greens, herbs, and berries, and supplied more than 1,000 grocery stores in the Northeast and Mid-Atlantic regions, including Albertsons Companies (Safeway and Acme), Amazon Fresh, Giant Food, Walmart, Wakefern, Weis, Whole Food Markets, and specialty grocers, and worked with local distributors such as Four Seasons Produce.
It operated vertical farms in Bethlehem, PA, and Nottingham, MD, and its headquarters was in Manhattan.
In 2023, the company had multiple rounds of layoffs and delayed project openings.
Bowery raised $94 million at a $944 million valuation in October 2023, according to PitchBook data, soon after two of its creditors marked down the value of their loans to the company.
Blue Book was unable to reach anyone at Bowery, and Pitchbook reports that an email to the company was returned with a notice that the account would be monitored through Nov. 30.
One of the largest vertical farms in the U.S., Bowery Farming, has reportedly ceased all operations.
All employee sites, including indoor farming facilities, will be closed and employees laid off effective immediately, according to a document seen by PitchBook and multiple company employees.
At its peak, New York-based Bowery was valued at $2.3 billion and raised more than $700 million in venture capital from high profile firms and celebrities such as Justin Timberlake, Natalie Portman and Lewis Hamilton.
Bowery Farming grew leafy greens, herbs, and berries, and supplied more than 1,000 grocery stores in the Northeast and Mid-Atlantic regions, including Albertsons Companies (Safeway and Acme), Amazon Fresh, Giant Food, Walmart, Wakefern, Weis, Whole Food Markets, and specialty grocers, and worked with local distributors such as Four Seasons Produce.
It operated vertical farms in Bethlehem, PA, and Nottingham, MD, and its headquarters was in Manhattan.
In 2023, the company had multiple rounds of layoffs and delayed project openings.
Bowery raised $94 million at a $944 million valuation in October 2023, according to PitchBook data, soon after two of its creditors marked down the value of their loans to the company.
Blue Book was unable to reach anyone at Bowery, and Pitchbook reports that an email to the company was returned with a notice that the account would be monitored through Nov. 30.
