US free-range milk company Hart Dairy has raised $10 million in a seed funding round led by Sydney-based investment firm Alium Capital.
Hart will deploy the capital to expand its dairy product offerings, increase production capabilities and continue to innovate its animal welfare practices. The company is targeting growth in America and Asia.
Located near Augusta, Georgia, Hart Dairy has more than 3,500 cows on 4,000 acres of farmland, and claims to be the “the largest single-source producer of 100% free-range, grass-fed milk in North America”.
Tim Connell, Hart Dairy CEO, said: “This significant influx of new capital is a clear validation of how we see free-range, grass-fed milk emerging in America. With consumers’ paradigm shift toward better-for-you products and our recent Certified Humane certification for the farms we care for most, we believe we are on the right trajectory.
“Having a world-class organisation such as Alium Capital in our corner is a huge endorsement for Hart Dairy as we continue to grow and pioneer the 100% free-range, grass-fed movement for our cherished consumers.”
Alium director Jason Rich added: “We were very impressed with Hart Dairy’s exceptional operation, along with their ability to recognise and fill this significant gap in the dairy market.
“We were also attracted by the team’s ability to scale quickly and, most importantly, they have the expert management team in place to execute appropriately to achieve success in this category.”
© FoodBev Media Ltd 2019
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