Fast Growing Trees Completes Acquisition of the Planting Tree
Fast Growing Trees, a portfolio company of Summit Park, is pleased to announce the acquisition of The Planting Tree, an e-commerce direct-to-consumer (“DTC”) provider of trees, shrubs, grasses, and perennials to customers located across the continental United States. Since its founding in 2014, The Planting Tree has developed a strong brand and a loyal customer base due to its broad assortment of high-quality products and rapid fulfillment capabilities.
Headquartered in Fort Mill, SC, FGT is the market-leading e-commerce DTC provider of live goods – predominantly trees and shrubs – going to market under its Fast Growing Trees and Brighter Blooms brands. Summit Park invested in FGT in February 2018.
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Adam Smith, CEO of Fast Growing Trees, said, “We are excited to add The Planting Tree’s strong brand and loyal customer base to the FGT platform. The Planting Tree will allow FGT to grow its product portfolio and reach new customer demographics. Throughout our 17-year history, the Fast Growing Trees brand name has been known for unmatched quality, assortment, and customer service, and we are looking forward to providing this same level of service to The Planting Tree customers.”
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Mike York, a Principal at Summit Park, added, “We are very pleased to add The Planting Tree to our portfolio of DTC brands in the live goods industry. The Planting Tree’s products are highly complementary to FGT, and we are optimistic that we can leverage our marketing and customer service capabilities as well as our supply chain to materially accelerate the brand’s growth.”