Skagit Gardens Sold To Outside Investor
Skagit Gardens, the wholesale greenhouse operation in Washington State founded by Jim Youngsman in 1966 and sold to International Garden Products 10 years ago, was recently acquired by Aequitas Capital Management.
July 9, 2008
The acquisition should expand Skagit's capacity and give the operation more resources to make new introductions and improve service.
"The Skagit Gardens management team was instrumental in selecting our new partner and feels strongly that this long-term relationship and compatibility of core values will enable us to continue our customer focus," says Chris Colasono, president and CEO of Skagit Gardens. "We look forward to building a stronger future with Aequitas Capital as our strategic and financial partner."
Skagit Gardens, which earned Greenhouse Grower's Grower of the Year honors in 1986, first marketed chrysanthemums for Mother's Day when Youngsman founded it as a small greenhouse operation more than 40 years ago. Today, Skagit Gardens specializes in perennials and encompasses 13 acres of heated greenhouses and 20 acres of outdoor growing beds.
Additionally, it delivers 1,500 to 2,000 varieties each year to growers across the United States and Canada and to retailers between California and Minnesota. The company's quality service is also well known and was a key factor in Aequitas Capital Management's decision to acquire Skagit.
"We have been impressed with the service and value Skagit Gardens brings to its customers and are proud to partner with the Skagit management team to continue growing and delivering superior annuals and perennials in the Pacific Northwest," says Brian Oliver, executive vice president of Aequitas.