Yasai, a Swiss vertical farming company will be integrated into GreenState, a Winterthur-based vertical farming company. The Yasai brand and operation will remain unchanged, and GreenState products from Neuhausen will also be marketed under the already-established Yasai brand in the future. The parties have agreed to keep the purchase price confidential.
"This move will allow us to finance new projects and therefore increase the capacity to grow more plants and enable more customers access to vertical farming products," Mark Essan Zahran, Co-founder and CEO of Yasai let VerticalFarmDaily know.
Both cultivation systems of YASAI and GreenState will be used and allow for doubling the current capacity of both companies. "They will be used to better understand the systems for the creation of a larger-scale project," as Mark explained. Given the Swiss market is large enough to scale operations in a first step, there is no desire shortly to expand across borders. However, Mark let us know that GreenState is working on establishing other strategic key markets. On top of that, the Swiss market can expect to see new products in the future.
Shareholders comments
"The integration of Yasai into GreenState is a classic win-win situation: we gain access to liquidity and growth potential, while GreenState leaps forward in terms of realized production capacity and sales volume," says Stefano Augstburger, Chairman of Yasai.
"With the integration of Yasai, we expand our production capacity and simultaneously gain an established sales channel. Additionally, we can bring our approach to the technical management of indoor farms into an established production environment," says Arsenije Grgur, CEO and Chairman of GreenState.
Yasai has been supplying retailers such as Coop and other buyers with herbs from its facility in Niederhasli since 2022, whereas GreenState has been supplying its produce in Manor stores with products from its Neuhausen site since January this year.
Yasai's founders, Stefano Augstburger, Mark Essam Zahran, and Philipp Bosshard, will retain their operational roles in the integrated company. Arsenije Grgur, Chairman and CEO of GreenState, will assume the role of CEO of the group after the initial integration phase.
For more information:
YASAI
www.yasai.ch
GreenState Ag
[email protected]
www.greenstate.ch