Revol Greens Sells Greenhouse In Medford, Plans Expansion
In an announcement on January 2nd, Revol Greens sold its greenhouse in Medford to a Portland, Oregon business and is now leasing the space. Making the sale, has helped put more capital into Revol Greens and will allow the company to 'double' the size of its operations.
According to Twin Cities Business Magazine online Revol Greens sold its greenhouse in Medford to Equilibrium Capital Sustainable Investment for $11.286 million. Revol Greens told the TCB Magazine that the project plans are not yet finalized, but the idea is to at least double the size of the greenhouse, which is currently about 132,400 square feet in size.
Revol Green’s move to grow comes amid a business boon fueled by the nationwide romaine lettuce recall that unfolded in late November. While businesses struggled through it because their lettuce suppliers were involved in the recall, Revol Green’s products were deemed to be safe from any threat, which meant they were doing more business.
The sale will not impact any of the current employees and in fact, will mean that Revol might be hiring in the near future. Revol Greens is expecting that the expansion project will begin this spring.