Oishii Farm Corporation
About Oishii Farm Corporation
Company overview
Oishii Farm Corporation, also known as Oishii, is a vertical farming company founded in 2016 by Hiroki Koga and Brendan Somerville, with its headquarters located in Jersey City, New Jersey. The company specializes in the indoor cultivation of premium strawberries and other flowering produce using a combination of traditional Japanese farming techniques and advanced technology. Originally starting with a 74,000-square-foot facility in Jersey City, the company expanded its operations in 2024 with the opening of a 240,000-square-foot indoor farm in Lopatcong Township, New Jersey. In March 2025, Oishii further grew its agricultural footprint through the acquisition of Tortuga AgTech, a company specializing in agricultural robotics. Business/Product Breakdown Oishii Farm Corporation operates indoor vertical farms that replicate the environmental conditions of the Japanese Alps to grow high-quality produce year-round. The company's core product line features specialized strawberry varieties, including the Omakase Berry, Koyo Berry, and Nikko Berry, alongside the Rubi Tomato. These products are cultivated in a pesticide-free environment that integrates artificial intelligence, machine vision, and robotics to monitor over 60 billion data points annually. A distinguishing feature of Oishii's production model is its proprietary natural pollination system, which utilizes live bee colonies within its vertical farms - a process traditionally difficult to achieve in indoor settings. The company's technology stack includes approximately 50 proprietary robots that analyze flower development and bee activity to optimize harvest timing at peak ripeness. Beyond fresh produce, Oishii manages food waste by repurposing "perfectly imperfect" fruit into a line of consumer goods, such as strawberry-flavored butter, vinegar, and oat milk, developed through partnerships with various food brands. These products, marketed under the "Wabi-sabi Berries" name for smaller fruits, are distributed through high-end retailers and artisanal partnerships. Oishii's facilities also incorporate sustainable infrastructure, such as solar power and advanced water recycling systems, to support its large-scale indoor ecosystem.
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Revenue
EBITDA
Valuation
| Line Item | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Revenues | $380 MM | $250 MM | $90 MM | $120 MM | $65 MM |
| Gross Profit | $190 MM | $125 MM | $45 MM | $60 MM | $32.50 MM |
| Net Income (Loss) | $43 MM | $25 MM | $9 MM | $12 MM | $6.50 MM |
| Line Item | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Total Assets | $850 MM | $720 MM | $680 MM | $650 MM | $600 MM |
| Total Liabilities | $450 MM | $400 MM | $380 MM | $350 MM | $320 MM |
| Total Equity | $400 MM | $320 MM | $300 MM | $300 MM | $280 MM |
Ratios
Employee Figures
Key Executives
See All401K
M&A2024-03-15Completed
Investor Sponsors NorthBridge PE | Stake Tags 100% |
Deal Amount $120M | Is PE deal Yes |
Target Company Valuation $1.20 MM | Is deal PE backed Yes |
Techniques Acquisition of Assets, Taken Private | Total Acquired 100% |
Investor Sponsors
Deal Amount
$120M
Target Company Valuation
$1.20 MM
Techniques
Acquisition of Assets, Taken Private
Stake Tags
100%
Is PE deal
Yes
Is deal PE backed
Yes
Total Acquired
100%
Secondary Transaction2023-09-01Canceled
Investor Sponsors -- | Stake Tags Majority |
Deal Amount Undisclosed | Is PE deal No |
Target Company Valuation -- | Is deal PE backed Yes |
Techniques Secondary Sale, Management Buy-out (MBO) | Total Acquired 65% |
Investor Sponsors
--
Deal Amount
Undisclosed
Target Company Valuation
NaN
Techniques
Secondary Sale, Management Buy-out (MBO)
Stake Tags
Majority
Is PE deal
No
Is deal PE backed
Yes
Total Acquired
65%
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