Portfolio Update: Patch Plants exit
I am pleased to announce that Arena Online Limited (Arena) has acquired Patch Plants. Patch is a highly-curated ecommerce site aimed at urban dwellers, enabling them to discover appropriate plants for their space, purchase, and then help care for the plants during their lifetime.
Graffiti first invested in Patch in 2019 and the company more than double revenues in the last 3 years, achieving EBITDA breakeven in 2022. The transaction will result in Graffiti receiving equity in Arena.
I want to congratulate Freddie and Patch team for the hard work of the last 3 years and I am looking forward to the future with Arena.