Three Farmers receives $6.2M investment from District Ventures and existing investors
By Food in Canada StaffBusiness Operations Bake & Snack Food District Ventures Capital Editor pick Export Development Canada Saskatchewan Three Farmers Foods
District Ventures Capital announce the closing of a $6.2 million equity investment in Three Farmers Foods, a provider of whole roasted bean snacks. The round was led with $3 million from District Ventures and included $3.2 million from existing investors including Export Development Canada, Golden Opportunities Fund and PIC Investment Group.
Founded with the belief that everyone should have access to wholesome food and an understanding of its origins, Three Farmers products are made using sustainable practices on Canadian soil. The company currently has five product lines, which are sold in retailers across North America including national chains such as Loblaws, Sobeys, Whole Foods and Walmart.
“Canada continues to demonstrate its enormous agricultural and health expertise and resources. Investments in vertically integrated companies like Three Farmers are what will create generational opportunity for our country,” said Arlene Dickinson, general partner of District Ventures Capital. “As leading producers for lentil and green pea production in the world, Canada is missing out by not participating in the commercialization of these resources into products – a gap Three Farmers is able to help fill.”
“Three Farmers is a shining example of a Canadian-made brand with Canadian-made sustainable products, and EDC is proud to be a part of their continued growth,” said Lissa Bjerkelund, vice-president, Investments and Mid-Marketing Lending at EDC. “Through EDC’s investment, we’ve been able to support this women-led company and their commitment to sustainable growing practices and aspirations to have a positive impact on the future of farming in Canada. They are a Canadian success story and one that we’re delighted to be a part of.”
“We are very excited to welcome District Ventures as a partner in Three Farmers Foods. Armed with the resources required to build our brand and distribution across Canada and the USA and expand our manufacturing in Saskatchewan, we will be able to continue to push toward our goal of making whole bean snacking a staple in all households across North America,” said Natasha Vandenhurk, CEO of Three Farmers Foods. “Now, more than ever, consumers are relying on brands like us to provide them with healthy, wholesome foods that truly deliver on the promise of nutrition while still satisfying the need for big crunch and flavour.”
The new investment will support Three Farmers’ continued growth in Canada with strategic marketing efforts, along with providing sales and business development support for the company’s US expansion efforts.
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