Costa sells majority share to holding company

Markel has reached an agreement to acquire a majority interest in Costa Farms and its related operating companies. Headquartered in Miami, Fla., Costa Farms is the largest producer of ornamental plants in the world. Founded in 1961 by Jose Costa, Costa Farms is a third-generation, family-owned business that stretches over 4,000 acres globally and employs nearly 5,000 people. Along with indoor and bedding plant divisions, Costa Farms operates merchandising services and young-plant production divisions, with operations in South and Central Florida, North Carolina and South Carolina, and abroad in the Dominican Republic and Asia. Markel is a financial holding company serving a variety of niche markets.