Radfords, a globally recognised 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 leadership, guiding the company's vision and execution.
Founded in 1989 by Phil Radford through 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" acquirers that slowly liquidate businesses rather than grow them.
"Amid increasing consumer and retailer demands, the fresh produce sector craves a digital partner to assist their value chain from soil to supermarket. We've capitalised on this demand in recent years," said Cuming.
Cuming said that with Arcadea, the company could elevate its products and services for its valued existing customers and serve the many new customers who will join as it expands into new markets.
"Choosing to partner with Arcadea from among many interested parties was a clear decision due to their commitment to long-term customer relationships, global growth vision, and established presence in our core growth regions," added Radford.
Radford shared that the company's customers and the exceptional team have evolved together over 30 years. The expertise of Arcadea in international expansion and operational scaling will be a chance for Radfords to drive even more value across the global fresh produce industry.
Paul Yancich, Managing Director of Arcadea Group, shared that as the company has studied the market, Radfords stood out amongst its competitors through its ability to bring material value to complex crops and market ecosystems.
"Radfords also met our rare mix of criteria in our investees: customer centricity, mission-critical products, and unassailable market leadership and knowledge," explained Yancich.
Nelson Ball, Vice President of Arcadea Group, stated that Radfords' customers could have confidence in the long-term growth and financial health of Radfords. With Arcadea aggressively building in the AgTech sector, with more exciting developments to share soon, the company was thrilled to announce its entry into the market in partnership with Radfords.
Daniel Eisen, Managing Director of Arcadea, also shared the excitement of the partnership.
"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 region's only truly growth-oriented VSaaS investor," concluded Eisen.
