Nov 30, 2006

Costa Farms Acquires New PropertySource: Costa Farms

Costa Farms announced the acquisition of a production facility in Pipersville, Pa. Located one hour north of Philadelphia and two hours west of New York City, the newly acquired facility will stretch Costa’s footprint through the Mid-Atlantic States and into the Northeast, creating a contiguous service area from Miami to New York.

Formerly owned by Hines Horticulture, the Pipersville property consists of 11 acres of greenhouse production plus shipping and office space. Costa’s current plans are to produce bedding plants for the local market from this facility and possibly supplement some deliveries with foliage shipments from Miami.

“Part of Costa’s mission is to create opportunities for growth,” said Jose Smith, president and CEO of Costa Farms. “We saw an opportunity at Pipersville that puts us in a better position to better serve our customers. It made sense for us right now, so we grabbed it. Pipersville is a great production facility managed and operated by great people,” added Smith, “and it’s in an area of the country that continues to grow. We are very excited about the opportunities this acquisition brings to our company and our customers.”

Costa took possession of the property at close and will begin shipping in spring 2007. As with other Costa locations, Pipersville will be strictly a production facility, with all purchasing, management and planning coming from corporate headquarters in Miami. Details of the deal, finalized Nov. 15, 2006, were not disclosed.