The well-known Grosvenor single family office has invested in Purfresh, a San Francisco based startup which is providing “fresh atmoshpere” transport solutions. The startup is tackling the problem that many container transports of food and other perishable goods are rejected at their destination because of spoilage.
Grosvenor’s Investment In Purfresh
In the recent transaction, the Grosvenor single family office has acquired 90% of Purfreshs shares through its investment arm Wheatsheaf. Purfresh’s main asset is a technology which enables active atmosphere management, reducing decay of food quality without the use of chemicals. According to Graham Ramsbottom, Wheatsheaf CEO, the investment in Purfresh is aligning with the strategy to invest in technologies to increase food supply chain efficiency.
About the Chester-based investment firm Wheatsheaf
Wheatsheaf is focusing on the increase of efficiency in agricultural businesses, as mentioned before. Consequently, the acquisition of Purfresh fits to the investment approach. Wheatsheaf has so far invested in 21 companies. Wheatsheaf is a direct investment arm of the Grosvenor family. Hugh Grosvenor’s wealth, the 7th Duke of Westminster, is estimated at 9 billion pounds.
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Picture Source: Emily Wang