McCain Foods Limited makes $65 million investment in GoodLeaf Farms

McCain Foods Limited makes $65 million investment in GoodLeaf Farms

GoodLeaf Farms is 45,000-square-foot vertical farm based in Guelph, Ontario, Canada.

Subscribe
February 26, 2021

Per a press release, McCain Foods Limited made “substantial investment” in TruLeaf Sustainable Agriculture and GoodLeaf Farms, TruLeaf’s wholly owned subsidiary.

McCain, per the announcement, has invested more than $65 million into GoodLeaft, making it the largest shareholder in the company. The money will be used to build out a “national network” of sustainable vertical farms.

McCain Foods Limited has made a substantial investment in TruLeaf Sustainable Agriculture and its wholly owned subsidiary GoodLeaf Farms, Canada's largest commercial vertical farming operation, to help drive the company's growth and expansion plans.

"At its heart, McCain is an innovative agricultural company," says Peter Dawe, McCain's Chief Growth and Strategy Officer. "This is why we're excited to support the growth and scale up of this Canadian start up that lives at the intersection of food, agriculture and technology. GoodLeaf's vertical farm technology creates spring and summer growing conditions in Canada year-round, growing local, fresh, healthy and tasty leafy greens instead of being trucked long distances into Canada. We are thrilled to contribute to bringing GoodLeaf's delicious produce to Canadians across the country." 

GoodLeaf's first commercial farm is a fully automated 45,000-square-foot facility in Guelph, Ontario. Using a proprietary system of specialized LED lights and hydroponics, GoodLeaf grows five microgreens — Spicy Mustard Medley, Asian Blend, Micro Arugula, Pea Shoots and Micro Radish — and three baby greens — Ontario Baby Arugula, Ontario Baby Kale and Ontario Spring Mix — for the domestic market 365 days a year.