Closes funding to bring locally grown strawberries to communities year-round.
LARAMIE, Wyo., May 29, 2025 – Plenty Unlimited Inc. (“Plenty” or the “Company”), an innovative agricultural technology company with a unique indoor vertical farming platform, today announced that it has successfully emerged from chapter 11, after the United States Bankruptcy Court for the Southern District of Texas confirmed its plan of reorganization.
“This emergence is the start of a new, focused era for Plenty,” said Dan Malech, Plenty’s Interim CEO. “Our technology has the power to make fresh food accessible to everyone. To accelerate our impact, we are laser focused on strawberries. We’re expanding the growing capacity in the Plenty Richmond farm and pursuing opportunities to bring Plenty’s vertical strawberry farming technology to new locations through farm sales – something Plenty is uniquely positioned to offer based on its proprietary technology.”
Following a successful first planting cycle that produced some of the sweetest strawberries on the market, Plenty is now preparing for the second strawberry planting in its Richmond farm and to resume construction that will significantly expand the farm’s growing space.
Through the chapter 11 process, Plenty successfully negotiated the resolution of outstanding claims with its creditors, clearing a path forward for many of them to return to Chester, Virginia, to complete the buildout of growing spaces in Plenty’s strawberry farm.
“We appreciate the strong support we’ve received from our stakeholders and business partners, whose belief in Plenty made it possible for us to complete this process swiftly,” continued Mr. Malech.
Interim funding for the restructuring as well as exit financing was provided by One Madison and SoftBank Vision Fund 2, with further exit financing provided by additional investors.
“My conviction in the power of Plenty’s groundbreaking and innovative vertical farming platform to transform the future of crops like berries has deepened in the last few years,” said Omar Asali, cofounder of One Madison Group. “As a result of this process, Plenty has emerged as a more focused and efficient company, poised to expand its production of premium strawberries with industry-leading partners. The company will fill a supply gap in the market to meet demand for locally grown strawberries and delight consumers with high-quality product year-round.”
Sidley Austin LLP and Wilson Sonsini Goodrich & Rosati served as the Company’s legal counsel during the chapter 11 process. Jefferies LLC and Uzzi & Lall LLC served as financial advisors. Davis Polk & Wardwell LLP and Sullivan & Cromwell LLP represented One Madison Group and SoftBank Vision Fund 2, respectively.
