Soil and mulch supplier merges with biomass energy developer
Coastal Supply Co., a supplier of bagged soil, mulch and stone products to such companies as Home Depot and Lowe’s, has been purchased by Harvest Power, which processes organic materials to generate energy. Financial terms of the deal were not disclosed.
Coastal Supply is a Delaware-based company that distributes its products through 14 states. The company will be renamed Harvest Garden Pro, but Joe Kollock and Steve Liffers will continue to lead the company as co-presidents.
Harvest Power, based in Waltham, Mass., owns and operates renewable energy facilities in British Columbia, Ontario, California and throughout the Mid-Atlantic states. It produces energy through nutrient-rich soils, mulches and fertilizers. Last week, the three-year-old company raised $1.25 million of a targeted $2.25 million in private equity funds, according to the Boston Business Journal.