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Just three months after snapping up Sydney-based grocery delivery service VOLY and recently augmenting its board prowess with experts who have worked at David Jones, Woolworths (ASX: WOW) and Archistar, paddock-to-plate company Our Cow has bolstered its database and product range with the purchase of Brisbane Valley Farm Direct's online business for an undisclosed sum.
Through the deal the fourth-generation family farmers will become beef and quail suppliers to Our Cow while continuing to grow the Brisbane Valley Farm Direct catering business, which sells quail to more than 100 top restaurants in Brisbane, Sydney and Melbourne and Michelin-starred restaurants in Hong Kong.
Based in Casino, NSW, Our Cow now generates more than $20 million in annual recurring revenue (ARR) from more than 50,000 customers with its direct delivery model sourcing from 150 farmers across Queensland and New South Wales.
In March the company, founded by two-time Australian Young Entrepreneur Awards finalists Bianca Tarrant and Dave McGiveron, raised $2.1 million in a crowdfunding campaign to help fund national expansion. More than $100,000 was pledged in the first 15 minutes of the offer opening and $1 million within the first day.
Tarrant says Brisbane Valley Farm Direct, located near Wivenhoe Dam to the west of Brisbane, has built an admirable brand and loyal customer bases that share Our Cow's ethos.
“People are increasingly searching for better ways to source sustainable, ethical, fresher and tastier produce that provides support to Australian farmers. The fact that people are looking for this alternative has already been proven by the amazing support for Our Cow as well as Brisbane Valley Farm Direct," says Tarrant, who alongside her co-founder appeared in the 2023 Australia's Top 100 Young Entrepreneurs list.
"The assets we’ve acquired primarily consist of information and materials that will help Our Cow reach a broader demographic in the Australian market who we believe are eager to source their daily food needs from sustainable, ethical Australian producers.
"The information is already being seamlessly integrated into the internal databases and marketing systems that Our Cow utilises to communicate with existing as well as prospective customers."
Duncan Brown of Brisbane Valley Farm Direct is excited by the partnership and what it will mean for his retail customers.
"Our family is grateful to have had the opportunity to build such a loyal customer base and we’re really thrilled those retail customers will continue to receive great service and an expanded range of quality products from the Our Cow team while we focus on the farming side of the business and supporting our commercial customers," he says.
"It’s a testament to the strong foundation of support we’ve built together and I’m excited to watch the next chapter unfold. Here’s to a thriving future for both Brisbane Valley Farm Direct and Our Cow."
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