The Green Coffee Company, a Legacy Group portfolio enterprise, has closed its initial $9.6 million Series B funding round and now has over 180 individual investors in the business.
The company also has contracted to purchase 2,340 additional acres of coffee land adjacent to its farms, which nearly doubles its existing landholdings. This acquisition positions it to become the No. 2 largest coffee producer in Colombia, according to the company.
With this acquisition and the development of the acquired land, the Green Coffee Company aims to become the No. 1 largest coffee producer in Colombia with 4,700 acres of available farmland prior to the projected 2025 sale or IPO without the need for any further acquisitions.
Green Coffee Company will extend the Series B funding round by an additional $3.5 million due to investor demand and to complete the acquisition. Investors will be given a chance to invest at the $700 per share price that was offered in the Series B funding round, with a projected seven-time return through a potential 2025 IPO exit.
The company's business model allows complete control of the supply chain, from cultivation through processing to direct trade with end clients. Its holistic approach to the coffee sector and commitment to best environmental practices establishes the long-term profitability and sustainability of the business and improves the quality of the coffee produced on the farms, according to the company.
Related: Funding Your Business: What Investors Look For; Branch Venture Group's Abda Offers Investment Advice.