TORONTO - Fresh City announced today the acquisition of Mama Earth Organics. Fresh City is a Toronto urban farm and omni-channel organic retailer, and Mama Earth is a subscription organic e-grocer. The companies share a common mission: to help people have a positive impact on the planet through their food choices. This joining of forces will elevate this mission and position the company to compete with the grocery giants.
"From our first harvest of snow peas in the Spring of 2011, we have relentlessly sought new ways to create a kinder and more sustainable food system. Uniting Fresh City and Mama Earth is a huge win for local farmers and makers, for our 500 plus dedicated team members and for the tens of thousands who we feed each week," said Ran Goel, founder and CEO of Fresh City.
"We each have our strengths, and together we can provide even better products, experiences, and service for our customers. Further, together we can better advance our mutual missions of helping people make a positive impact on the planet through their food choices", said Mary Graham, former CEO of Mama Earth, now President of Fresh City.
The combined company will own and operate several brands including Fresh City, Mama Earth, The Healthy Butcher, and Mabel's Bakery, with both ecommerce and retail businesses, creating more variety and options for customers looking for local and sustainable choices. This transaction creates the largest organic retailer in Ontario with almost 80% of revenues online. The acquisition was financed by existing Fresh City investors including Bennett Church Hill Capital, Good & Well, TELUS Pollinator Fund for Good and Dragonfly Ventures.
Source : Cision