Latest News Releases
Forage Invests in Manitoba based Bushel Plus
New investment propels Bushel Plus's mission to bring more products and innovation to optimize harvest efficiency and improve farmers' profitability.
BRANDON, MAN. (Oct. 25, 2022) New investment in Bushel Plus, a leading agriculture technology company that manufactures harvest efficiency products, is fueling the company’s strategic direction to provide farmers with more innovative technology, products, services and systems to minimize yield loss at harvest time.
The injection of investment dollars will benefit growers and dealers by increasing the scope and pace of new product innovations and development, allowing more research to be done in different geographic locations and on different crops, and giving farmers and retailers more access to a broader range of products designed to increase harvest efficiency, minimize harvest loss, and maximize profitability. It will also lead to more employment opportunities and community engagement with the hiring of more sales, service and technical staff.
Marcel Kringe, founder and chief executive officer of Bushel Plus, explains that this adds up to more value for farmers and dealers across North America.
“We will continue to innovate and build on the success of the Bushel Plus Drop Pan System for measuring yield loss out the back of the combine, and advance development of new products that improve farmers’ harvest efficiency and returns. We will expand our research and demonstration trials so farmers and dealers can have confidence in the performance of our products. And an expanded technical sales and service team will provide more expertise and advice regarding how to get the most out of harvest.”
Jim Taylor, managing director and founder of Forage Capital Ag & Food Business Solutions Fund, an equity fund that invests along the entire agriculture and food industry value chain, agrees.
“Agriculture plays a critical role to boost economic sustainability and growth. We’re excited by the potential we see in Bushel Plus, a company that is forward-thinking, farmer-focused and leading the way in agricultural technology and innovation. Improving harvest efficiency means more crop in the bin, which ultimately means greater global food production and that’s now more important than ever,” says Taylor.
Headquartered in Brandon, Manitoba, Bushel Plus distributes products in Canada, U.S., Europe, New Zealand, Australia and South America. Its product line includes a patented Drop Pan harvest loss system featuring an air separator, digital field scale and mobile app, grain shaker boxes, fledbags, and most recently, concaves through its acquisition of MAD Concaves.
For more information, contact:
Marcel Kringe
CEO, Bushel Plus
marcel@bushelplus.ca
phone: +1 204 402-0666
Canadian Food Startup, Fieldless, Raises $17.5M for Major Expansion
Funding round led by Forage Capital Partners, includes Farm Credit Canada and BDC
July 14, 2022, OTTAWA—Fieldless Farms, a modern food and Controlled Environment Agriculture company that launched in 2019, announced a Series A round raising $17.5 million in equity and debt to expand operations at its Cornwall facility by 10 times. The expansion will help Fieldless better meet demand for its cut lettuce mixes, and introduce new products to displace imports with local and more
sustainable options in high-volume grocery categories.
“Since launching across the Farm Boy chain in 2019 we’ve been propelled by the enthusiasm for our products. Canadians are hungry for better options and we can’t keep shelves stocked,” said Fieldless CEO, Jon Lomow. “Fieldless is directly addressing long, complicated and mostly foreign supply chains by offering products that are local and more sustainable, but most of all, that people fall in love with.”
The financing round was led by Canada’s most experienced Ag & Food fund, Forage Capital Partners and includes Farm Credit Canada (FCC) and BDC, the bank for Canadian entrepreneurs.
“We really like Fieldless’ approach and what the company has been quietly and cost effectively building here in Canada,” said Jim Taylor, CEO of Forage Capital Partners. “We think the company is well positioned in the current economic climate for steady and significant growth.”
BDC participated equally in the debt portion of the fundraise with FCC.
"BDC is thrilled to be working hand-in-hand with FCC to support Fieldless with its expansion plans. A greener future is on the horizon, when we invest side-by-side in projects that are essential for Canada's food sovereignty," said Kunle Tauhid, BDC's Vice President for Eastern and Northern Ontario.
The company’s first farm in Cornwall, Ontario, launched in 2019. The operation grows no-need-to-wash leafy greens using highly-controlled environments, renewable energy, and without herbicides or pesticides. Shortly after launching, Fieldless Ontario Sweets and Northern Crunch lettuce mixes obtained listing across Ontario in the rapidly expanding grocer, Farm Boy, in addition to a handful of independent grocers.
“In Canada we import around $60 billion worth of food each year and happen to have the largest trade deficit in the world for lettuce. We rely on other nations to feed us, and it’s risky and unsustainable,” said Fieldless Farms CEO Jon Lomow. “We’re building Fieldless to address that massive opportunity—the
need to locally produce food that is safer, secure, and more sustainable, 365 days a year.
About Fieldless
Fieldless is a modern food company focused on solving food sovereignty and sustainability, based out of Ottawa and Cornwall, Ontario. The company launched in 2019 to displace foreign products and complex supply chains with safer, secure, more sustainable foods that people fall in love with. Fieldless products can currently be found in Farm Boy and independent retailers across Ontario. Visit fieldless.com.
About Forage Capital Partners
Forage Capital Partners is Canada’s most experienced team of Ag & Food investors, having managed over
$500 million in commitments to the industry over the last 18 years. Forage Capital Ag & Food Business Solutions Fund works to provide its portfolio companies with the stability and flexibility they need to expand and adapt their business models during these challenging times. The fund will invest with creative business owners that are looking to capitalize on new and innovative opportunities that will emerge as the Canadian economy prospers. For more information on Forage Capital Partners, visit foragecapitalpartners.com.
For more information or interviews, please contact:
Fieldless
613-806-5168 media@fieldless.com
Nuts for Cheese Closes $5.35 M Round to Expand Manufacturing & Distribution
Chef Founded Organic, Plant-Based, Artisanal Cheese Company Ready to Go Nuts!!!
LONDON, ONTARIO (June 15, 2022) – Nuts For Cheese™, maker of dairy-free, plant-based, artisanal cheeses, today announced a $5.35 million round of funding led by Forage Capital Partners along with highly experienced CPG veterans Mike Fata and Dror Balshine.
Founded in 2015 by vegan chef, Margaret Coons, Nuts For Cheese™ self-manufacturers its complete line of fermented cashew-based cheeses and butters with house-made cultures in a certified organic facility without the use of any starches, gums, fillers or artificial flavors. The investment will go towards CAPEX for equipment and facility enhancements to support the rapidly growing consumer demand as well as towards key hires, innovation and marketing initiatives. The company will also be implementing a board of directors led by Mike Fata as Chairman of the Board.
“From the early days I’ve worked hard to surround myself with the right partners,” said Margaret Coons, CEO and Founder at Nuts For Cheese™. “It’s been such a journey, from a rented commercial kitchen to building out our current 25,000 square foot facility. What once looked huge to me is now quickly becoming ready for more expansion. This investment comes at a perfect time for us to be able to keep pace with our growth and I couldn’t be happier partnering with a company like Forage which has extensive experience in the food space and such an incredible team.”
“Nuts For Cheese™ is exactly the type of creative and innovative company that Forage loves to invest in,” said Jim Taylor, Partner. “Forage is really excited to invest in a leading vegan cheese company that provides consumers with a real food alternative to traditional cheeses.”
According to Nielsen data, the non-dairy cheese category is growing 21% and fueled by an increasing number of consumers adding more plant-based products to their baskets. Per Spins data, sixty-two percent or 79 million U.S. households are now buying plant-based products. Since its founding days sold at farmers markets Nuts For Cheese™ has quickly expanded into more than 1,900 retail outlets in Canada including Sobey’s, Fortinos and Save On Foods and almost 2,000 doors in the U.S. made up of a few regions of Whole Foods Market and many strong independent chains with the most recent national launch into Sprouts Farmer’s Market in June.
Made with chef-grade quality, Nuts For Cheese™ has always been about innovative recipes that deliver exceptional taste. “I love to create delicious vegan food that brings everyone together,” said Coons. “My recipes for our SKUs, Un-Brie-lievable, Smoky Gouda, Black Garlic, Artichoke & Herb, Super Blue and Chipotle Cheddar, focus on delivering a smooth, creamy texture with bold, distinctive flavors. Perfect as the center-piece on a plant-based charcuterie board or as part of a vegan recipe, we hope Nuts For Cheese™ helps elevate any culinary experience.”
To learn more about Nuts For Cheese™, visit www.nutsforcheese.com, or follow Nuts For Cheese™ on Instagram (@NutsForCheese), Facebook (@NutsForCheese) and Twitter (@NutsForCheese).
About Nuts for Cheese™
Founded in 2015, Nuts For Cheese™ started with an inspired chef who has an unparalleled passion to spread positive, sustainable change through food. Originally crafted in the back of a vegan kitchen, Nuts For Cheese quickly built their own manufacturing facility in order to preserve the integrity of the recipes and chef-grade quality. Recognized as a leader in the plant-based cheese movement, the complete line of 100% dairy-free, plant-based fermented cashew-based cheeses and butters are made with house-made cultures in a certified organic facility without the use of any starches, gums, fillers or artificial flavors. Nuts For Cheese™ is a certified Women Business Enterprise and certified LGBTBE. To learn more about Nuts For Cheese™, visit www.nutsforcheese.com, or follow Nuts For Cheese™ on Instagram (@NutsForCheese), Facebook (@NutsForCheese) and Twitter (@NutsForCheese).
About Forage Capital Investments
Forage Capital Partners is Canada’s most experienced team of Ag & Food investors, having managed over $500 million in commitments to the industry over the last 18 years. Forage Capital Ag & Food Business Solutions Fund works to provide its portfolio companies with the stability and flexibility they need to expand and adapt their business models during these challenging times. The fund will invest with creative business owners that are looking to capitalize on new and innovative opportunities that will emerge as the Canadian economy recovers and prospers. For more information on Forage Capital Partners, visit www.foragecapitalpartners.com.
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