Local Bounti

US based Indoor farming company Local Bounti has announced that it is acquiring the rival indoor farming company Hollandia Produce Group for $122.5 million. According to sources, the acquisition of Hollandia, which sells its products under the Pete’s brand name, may offer financial stability to Local Bounti as the Hollandia’s revenue totaled $22.7 million in 2021 with the gross margins reaching 45%, whereas Local Bounti reported sales of $638,000 in …