The Green Coffee Company, a Legacy Group portfolio company and Colombia’s largest coffee producer, today announced the launch of its $100 million Series C funding round. The round consists of a proposed $25 million in equity financing and $75 million in debt funding.
Equity funding to date exceeds $35.0 million from more than 275 high-net-worth investors. Founded in 2017, the U.S.-headquartered coffee company currently boasts 27 farms spanning 6,652 acres in total landholdings and roughly 7.7 million coffee trees. The company is on track for $13.4 million in 2022 sales (a 10x increase from 2021) and approximately $1.95 million in 2022 EBITDA, with plans to scale revenue and profitability substantially in the coming years.
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The fresh capital will enable the company to drive forward a new way of doing business that transforms the manner in which coffee is produced, processed and monetized in Colombia. The new investment is expected to provide the Green Coffee Company with the capital needed to further expand its Colombian operations, accelerate its U.S.-based coffee roasting operations and enable the company to launch its own lines of liquors and spirits distilled from coffee cherries and other coffee by-products.
“This funding round will push us further towards our goal of becoming the world’s largest arabica-coffee producer,” said Cole Shephard, Green Coffee Company Founder and partner at Legacy Group, the company’s asset manager. “Through the buildout of our roasting facility and the monetization of coffee byproducts, we will be able to fully vertically-integrate additional lines of business from roasted coffee to business-to-consumer alcohol products. We already have the most sophisticated coffee processing facilities in Colombia, and, we believe, globally. We intend on continuing to be leaders of innovation in the coffee industry in Colombia and throughout the world.”
Integrating environmental, social and economic sustainability is at the core of all of the Green Coffee Company’s operations. The company prides itself on having obtained the sustainable-agriculture certification of the Rainforest Alliance and for adhering to the Coffee And Farmer Equity (C.A.F.E.) Practices standard, a program developed by Starbucks, Conservation International and SCS Global Services.
In July, the company was recognized by the president of Colombia’s Congress and Colombia’s minister of agriculture for its advances in agriculture. GCC’s CEO, Boris Wullner, accepted the award for “Best Technological Innovation” in agriculture. Additionally, the company has become a national leader by practicing digital agronomy, using mobile technology to monitor farm conditions and trends, so farming decisions may be made based on the best data available.