Verde Farms, a US provider of grass-fed and pasture-raised beef, has secured a $15 million investment from private equity firm Manna Tree Partners.
Founded in 2005, Verde Farms is based in Massachusetts and produces organic beef products such as sausages, steaks, hot dogs and grinds to both retail and foodservice customers in the US.
The capital will be used to accelerate channel and geographic market expansion, new product development, brand promotion and operational capacity.
“Manna Tree Partners shares our mission-driven commitment to providing consumers with beef that is better for people, better for the animal and better for the planet, and to craft products using only great-tasting, authentic ingredients like those you can find in your own cupboard at home,” said Dana Ehrlich, CEO of Verde.
“This partnership will better enable us to meet rising global demand for 100% grass-fed, 100% pasture-raised beef. In 2020, we are excited to introduce innovative, ready-to-eat mealtime options unlike anything on the market and to continue our geographic expansion within the United States in the near-term and internationally in the long-term.”
Manna Tree Partners is based in Colorado and was founded in 2018. In December, the firm invested in plant-based ingredient producer Nutriati. The Verde deal marks its fourth investment.
Manna Tree Partners COO Brent Drever said: “Consumers today are more keenly attuned to the impacts of their purchase decisions from a health and sustainability standpoint. We believe Verde is well-positioned to become the brand of choice for these consumers based on their sustainability and animal welfare standards, superior-quality products, traceable supply chain and a proven, sustainable business model.
“The grass-fed organic beef market remains under-penetrated with significant opportunity to expand with a branded product offering and a thoughtful go-to-market strategy. Dana Ehrlich and his team are tapping into that incredible growth opportunity.”
© FoodBev Media Ltd 2024
