The investment bolsters Radfords' international growth and secures its reputation of quality and innovation for decades to come.
TAURANGA, New Zealand & TORONTO--(BUSINESS WIRE)--#VSaaS--Radfords, a globally recognized leader in fresh produce software serving the entire fresh produce value chain – including orchard owners, packhouses, and marketers – has secured a strategic investment from Arcadea Group, a global, long-hold and growth-oriented SaaS investor.
The investment sees Phil Radford, Founder, transitioning to a Board role while continuing to influence key projects. Meanwhile, CEO Adam Cuming will maintain his leadership, guiding the company's vision and execution.
Founded in 1989 by Phil Radford through a close collaboration with the Kiwifruit Industry in the Bay of Plenty, New Zealand, the Company has become an indispensable and uniquely capable software provider for diverse produce sectors including Kiwifruit, Avocadoes, Cherries, Citrus, Apples, and Vegetables.
Arcadea's investment will further empower and secure Radfords' unwavering commitment to its customers and facilitate international expansion to meet the incredible demand for its trusted fresh produce software suite worldwide. Radfords’ customers can have confidence in a permanent and innovative home, unlike competitors that are PE-backed and perpetually flipped, or those by low-growth “strategic” acquirors that slowly liquidate businesses rather than grow them.
"Amid increasing consumer and retailer demands, the fresh produce sector is craving a truly digital partner that can assist their value chain from soil to supermarket. We've capitalized on this demand in recent years, but now, with Arcadea, we have the opportunity to elevate our products and services for our valued existing customers, as well as to serve the many new customers joining our family as we expand into new markets," said Cuming.
Radford added, "Choosing to partner with Arcadea from among many interested parties was a clear decision due to their commitment to long-term customer relationships, their global growth vision, and their established presence in our core growth regions. Our customers and our exceptional team have evolved together over 30 years. With Arcadea’s expertise in international expansion and operational scaling, we're excited about driving even more value across the global fresh produce industry."
Paul Yancich, Managing Director of Arcadea Group, remarked, "As we studied the market, Radfords stood out amongst competitors due to its ability to bring material value to complex crops & market ecosystems. Radfords also met the rare mix of criteria we have in our investees: customer centricity, mission-critical products, and an unassailable market leadership and knowledge.”
Nelson Ball, Vice President of Arcadea Group, went on to say, “Radfords’ customers can have the confidence in the long-term growth and financial health of Radfords. Arcadea is aggressively building in the AgTech sector, with more exciting developments to share soon; we’re thrilled to announce our entry into the market in partnership with Radfords.”
Daniel Eisen, Managing Director of Arcadea, said, “We’re excited to be teaming up with Phil, Adam and the Radfords team as they embark on their next phase of material international growth. This investment, our second in New Zealand, and third in the Australasia region, demonstrates our commitment to high-quality, growing, founder-controlled businesses, and our differentiation as the only truly growth-oriented VSaaS investor in the region.”
Radfords has been helping fresh produce operators transform the way they grow, pack and sell for more than 30 years. Its software solutions are designed to give complete control and visibility across the supply chain, from soil to supermarket. Based in New Zealand, Radfords is trusted by many of the world’s leading fresh produce growers, producers and distributors.
About Arcadea Group
Arcadea Group invests in high-quality, strongly growing, typically founder-led vertical software companies over durations of time that no traditional private equity or growth equity firm can match. With headquarters in Toronto, offices in Florida, and portfolio companies in North America, Europe, and Asia, Arcadea maintains a global investment purview. Arcadea leverages tailor-made, flexible strategies that prioritize value creation for all stakeholders, offering an alternative to the rigid playbooks of Private Equity or Software Aggregators, which prioritize owner returns at the expense of customers and employees.
Paul Yancich, Managing Director