Golden Opportunities Fund has invested in Three Farmers Foods, a Saskatoon, Saskatchewan-based provider of sustainable, healthy food products that are sourced locally. Golden led an undisclosed financing of Three Farmers, partnering with Export Development Canada to support the company’s growth.
SASKATOON, SK, Jan. 28, 2021 /CNW/ – Golden Opportunities Fund Inc. (“Golden” or the “Fund”), Saskatchewan’s local investment Fund, is pleased to announce a new investment in the innovation company, Three Farmers Foods Inc. (“Three Farmers” or the “Company”). The round was led by Golden in partnership with Export Development Canada to fund the Company’s growth plan.
Established more than a decade ago, Three Farmers Foods sources local products from Saskatchewan family farms, adding value through its proprietary roasting technology that is completed locally as well, to deliver homegrown healthy snack products to the world. As an established consumer packaged foods brand, the Company delivers a variety of product lines including Three Farmers Camelina Oil and the Three Farmers roasted snacks line consisting of roasted chickpeas, roasted peas and whole roasted lentils.
With its home base in Saskatchewan, the Company was initially founded by three farmers, a group of second and third generation local farmers, and two local sisters – Natasha Vandenhurk, Chief Executive Officer and Director, and Elysia Vandenhurk, Chief Revenue Officer and Red Seal Chef. Although the company’s products are all locally sourced, Three Farmers has grown to have a global reach with the Company’s healthy snack products now sold in over 4,000 retailers across North America, including all national grocery retail chains, and online through the Amazon platform.
“Golden is pleased to lead this next round of growth funding for this local company in our innovation sector – a key and flourishing sector in our Province that the Fund continues to champion. Our investment will further support the ongoing growth of Three Farmers, as the Company continues to grow its product lines, markets, customers and distribution channels all from right here at home,” says Grant Kook, President and CEO of Golden Opportunities Fund Inc.
Through the Company’s innovations, Three Farmers also provides its customers with the ability to trace their food – from ‘Farm to Fork’ through a simple product code that connects the consumer, openly sharing how the Company’s products are grown and made. Three Farmers also has a commitment to preserving the land through sustainable growing practices.
“The success of Three Farmers to date is driven by where we are rooted – our Company’s strength is its local supply chain, from the purchase of raw products to the roasting, it’s all done locally. This reflects our core values of sustainability, traceability, innovation, promoting the land we farm on, and connecting farmers to consumers,” says Natasha Vandenhurk. “We are excited to work with Golden Opportunities – a local investment fund, which further supports our roots, that has a deep understanding of value-added agriculture as we continue to drive innovation in our Province and grow the Three Farmers brand and products for generations to come.”
Overall, the snack food category continues to experience strong growth with healthy snack food products leading the way. The Better for You (BFY) snack category has been growing at a rate of approximately 20% per year, while pulse-based snacks have been growing at a rate of over 40% per year, according to Mintel’s BFY November 2017 study.
Three Farmers will keep growing from where it started – locally in Saskatchewan, while it continues to address the increasing demand, and expand its products and presence around the globe.
About Three Farmers Foods Inc.
Three Farmers Foods Inc. is a privately held corporation based in Saskatoon, Saskatchewan. Three Farmers is a trusted brand and provider of foods with natural goodness. They are an integrated organization that delivers nourishing food the way it was meant to be – sustainably grown on Canadian farms and minimally processed to reveal its natural goodness. It’s delicious food with real substance; so you can feel good about the food you eat. Their current product lines include camelina oil and roasted snacks consisting of roasted chickpeas, roasted peas and roasted lentils.
About Golden Opportunities Fund Inc.
Founded over 20 years ago, Golden Opportunities Fund Inc. is the first and longest-standing Provincial Retail Venture Capital (RVC) Fund in Saskatchewan. The Fund makes strategic investments in high-growth sectors of the economy to maximize shareholder value. Learn more at GoldenOpportunities.ca