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On December 11, 2019, Optimum ICD Holdings LLC acquired 5,587 acres of farmland in Georgia, along with processing facilities, the Generation Farms trademark and other assets. The purchase included a working produce operation in Tattnall and Toombs counties—not just land. The price and other terms were not disclosed.
What Optimum acquired
Optimum Agriculture announced that Optimum ICD Holdings LLC bought the assets from Generation Farms, LLC and its affiliates. The package included:
- 5,587 acres of farmland in Tattnall and Toombs counties, Georgia;
- processing facilities;
- the Generation Farms trademark; and
- other related assets.
Optimum described the transaction as its third U.S. acquisition, following El Maximo Ranch and Island Pond. That characterization comes from the company’s announcement.
What the farm operation did
Generation Farms grew, packed and shipped onions, watermelons and other produce through operations in and around Vidalia, Georgia. Optimum said it planned to continue those operations and supply many of Generation Farms’ previous customers.
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Optimum also said it planned to expand production to include onions, watermelons, sweet potatoes, green beans, cabbage and sweet corn. Those were stated plans at the time of the acquisition, not confirmation that every crop was later grown at scale.
Why Optimum said it made the purchase
Optimum Agriculture CEO Gaston Marquevich described the deal as part of a long-term effort to improve operational efficiency by diversifying weather and harvest risks across states. He also said the short-term objective was to increase facility use by raising production and provide retailers with a more constant food supply throughout the year.
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The company’s 2019 announcement said Generation Farms brought three generations of Stanley family farming experience dating back to 1964. That heritage detail was part of Optimum’s account of the operation.
What happened to the Vidalia operation
Optimum’s company history later reported that it and an institutional investor or wealth sovereign fund bought the Vidalia onion-growing operation in December 2019, describing it as almost 5,600 acres with packing and processing facilities. The page says production was ramped up, a watermelon program was added and the soil was recovered. It also says the operation was sold in 2023.
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Optimum’s retrospective does not identify the buyer in that later sale or disclose its price. The 2019 acquisition should therefore be understood as a historical transaction, not evidence that Optimum still owns the operation.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Announcement date and coverage
Optimum gives December 11, 2019, as the acquisition announcement date. The Produce News and Successful Farming published contemporaneous reports on December 10, a one-day difference in publication timing. Successful Farming notes that its coverage is primarily based on company-provided releases.
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