Little Leaf Farms is rapidly expanding from its Massachusetts base, doubling in size during 2020. As the farm expands into New York, New Jersey, Pennsylvania and North Carolina, Bank of America stepped in with more than $18 million of financing, which will be followed by another $20 million to help finance the company’s continued growth.
Little Leaf Farms, leading producer of packaged lettuces in New England, is producing more than 1 million boxes of fresh greenhouse-grown baby green lettuce per month in Devens, Massachusetts. When the company expands from five acres to 10 acres alongside the opening of a new greenhouse in May 2020 at Devens, production of the sustainably grown lettuce will double to 2 million boxes delivered to New York and New Jersey’s major supermarket chains.
“We are supportive of Little Leaf Farms’ efficient growing methods, using sunlight and captured rainwater, to grow delicious lettuce that only travels locally so it remains flavorful,” said Randy Mitchell, an SVP of Global Commercial Banking at Bank of America. “We believe in the company’s environmentally and socially responsible mission as they expand into new markets on the East Coast.”
CEO of Little Lead Farms, Paul Sellew, commented on the partnership with Bank of America. “Having Bank of America so solidly behind us as we expand into several new regions is critical to our momentum,” Sellew said. “Customers have really responded to our lettuces, saying we have the best, most flavorful product, and we are now the number one packaged lettuce in New England. The support of the Bank of America team is going to help us more forward all the more.”