Radfords, a globally supplier of 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.
Phil Radford, Founder, will transition to a Board role while continuing to influence key projects. While, CEO Adam Cuming will maintain his leadership, guiding the firm’s vision and execution.
What does the funding mean for Radfords?
Founded in 1989 by Phil Radford through a close collaboration with the Kiwifruit Industry in the Bay of Plenty, New Zealand, the firm has become an indispensable software provider for diverse produce including Kiwifruit, Avocadoes, Cherries, Citrus, Apples, and Vegetables.
Arcadea’s investment will further empower and secure Radfords’ unwavering commitment to its clients and facilitate international expansion to meet the incredible demand for its trusted fresh produce software suite worldwide. Its clients 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.
Phil Radford commented, “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,” Radford further said.
“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,” commented Adam Cuming.
Why did Arcadea Group invest in Radfords?
Paul Yancich, Managing Director of Arcadea Group, said, “As we studied the market, Radfords stood out 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, also commented, “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 are 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.”