The Open Prairie Rural Opportunities Fund announces a growth-stage investment in Northern Feed and Bean.
Headquartered in Lucerne, CO, Northern Feed and Bean has been serving bean growers and livestock producers since 1952.
With a network of more than 300 growers across Colorado, Wyoming and Nebraska, Northern Feed and Bean has established itself as the leading provider of premium pinto, mayocoba and black beans – marketed and distributed in the United States, Mexico and the Dominican Republic under the Frontier™ brand. The company is also a Certified Expert distributor for Purina® and one of the nation's largest Purina® dealers, offering a complete line of Purina® products for livestock and companion animals.
In tandem with Northern Feed and Bean's management team and Fenix Equity Group, Open Prairie will work to leverage Northern Feed and Bean's nearly 70-year legacy of grower relationships and innovation.
"Building upon the multi-generational foundation and leadership that Northern Feed and Bean has created with the Frontier™ brand, we are excited about navigating the plethora of opportunities in partnership with the Open Prairie team as we embark on the company's next phase of growth," says Jay Ewald, CEO of Northern Feed and Bean.
Key initiatives for Northern Feed and Bean include development of new bean varieties, introduction of commercial programs targeting the plant-based food sector, acceleration of expansion into growing international markets and establishment of new distribution channels through retail, food service and e-commerce platforms.
The core of Northern Feed and Bean's strategy will have significant emphasis on the implementation of diversity, sustainability and environmental stewardship initiatives through all facets of company operations.
John Marsh, managing director at Fenix Equity Group, will work with management to oversee the execution of this strategy as chairman of the board of Northern Feed and Bean.
With the investment from the Open Prairie Rural Opportunities Fund, Lee Strom, partner at Open Prairie, will become a member of the Northern Feed and Bean Board of Directors.
About the Open Prairie Rural Opportunities Fund
The Open Prairie Rural Opportunities Fund is an $81 million private equity fund licensed by the US Department of Agriculture (USDA) as a Rural Business Investment Company (RBIC). With a collaborative partnership comprised of investors from Farm Credit institutions, commercial and community banks, strategics, family offices and high net worth individuals committed to advancing rural America, the Open Prairie Rural Opportunities Fund is focused on providing debt and equity capital of $2 - $10 million to growth companies in food and agriculture.
About Northern Feed and Bean
Northern Feed and Bean is a provider of services to growers and livestock feeders throughout the Western United States. With a legacy spanning more than sixty-five years, Northern Feed and Bean has become a leader in premium pinto, mayocoba and black beans.
