DENVER — Private equity firm Manna Tree announced on July 23 that it assumed controlling interest in Boston, Mass.-based Verde Farms, a beef company specializing in organic and grass-fed products. Manna Tree’s first investment in the company was in early 2020. Financial terms of the new transaction were not disclosed.

“At Manna Tree, we believe that by investing in the next generation of health-and-wellness-focused companies, we will empower consumers to live better, longer lives, and Verde perfectly delivers that vision,” said Steve Young, managing partner of Manna Tree, who also is a Verde Farms board member. “Through its organic, grass-fed, regeneratively farmed beef, Verde offers consumers a more nutrient-dense protein option, and we believe the company is well positioned to serve the growing demand for cleaner, more sustainable food choices by today’s consumer. We are strong believers in the opportunity for Verde and look forward to working closely with its highly experienced management team to scale the company in a meaningful way.”

According to Nielsen data, the better-for-you beef segment is valued at $4.4 million and has grown by 14% year-over-year, while organic beef has grown at an annual rate of 22%, making it a prime target for the private equity firm.  

“Since our initial investment into Verde Farms, we have been continually inspired and impressed by its commitment to sustainability and more environmentally conscious protein options,” said Gabrielle Rubenstein, co-founder and managing partner of Manna Tree. “We have worked very closely with the company to further strengthen its team and go-to-market strategy, and we’re excited to leverage our expertise and network to help Verde expand its reach and impact in the better-for-you food space.” 

Brad Johnson, chief executive officer of Verde Farms, said Manna Tree will provide new opportunities for growth for Verde, which was founded in 2005. 

“Our commitment to providing the purest form of beef aligns perfectly with consumer demand for healthier, more sustainable protein options,” Johnson said. “With Manna Tree’s strategic support, we’re well-positioned to scale our operations, innovate our product offerings and expand our market reach. I’m particularly excited about building on our recent successes, including our strong velocities and significant increases in store count and distribution points.”