The Fresh Factory
The Fresh Factory operates a vertically integrated platform from farm to shelf, focusing on fresh, clean-label, and plant-based products. Listed on the TSX Venture Exchange, the company achieved record revenue in fiscal 2023 and supports emerging brands through its Fresh Start mentorship program.
Overview of The Fresh Factory
The Fresh Factory operates a vertically integrated platform, managing the process from the farm to the shelf. The company's emphasis lies in producing fresh, clean-label, and plant-based products. As a public benefits corporation, it also prioritizes social and environmental performance. The company utilizes innovative processing techniques to create real food without artificial colors or preservatives. It works with a variety of partners, including leading direct-to-consumer brands, quick service restaurants, and disruptive retail brands, to produce a wide range of products.
Certified SQF Level III Facility
The Fresh Factory is a certified SQF Level III facility, a certification it has maintained for five consecutive years. This designation ensures that the company adheres to the highest standards of food safety and quality. The certification is an essential marker of compliance and reliability in the food industry, positioning The Fresh Factory as a trusted supplier and manufacturer.
Product Offerings and Services
The Fresh Factory produced over 250 different SKUs for 36 different brands last year. The company's services extend from innovation, supply chain, manufacturing, fulfillment, to financing. They handle fresh produce and convert it into plant-based foods, offering assembly, packing, and pick-pack-ship services. Additionally, they provide on-site and off-site storage for both ingredients and finished products. The company’s expertise in working with fresh and plant-based products along with its extensive service offering makes it a comprehensive partner in the food industry.
Financial Performance
The Fresh Factory recorded a record annual total billed revenue of $23.7M in fiscal 2023. In the same fiscal year, they achieved their highest-ever quarterly billed revenue of $6.5M in Q4. These financial milestones underline the company’s growth and its successful business strategies. Additionally, the company completed a US$2.0 million sale-leaseback financing, aimed at fueling further business expansion.
Community and Environmental Initiatives
The Fresh Factory runs several programs aimed at community and environmental betterment. Their Fresh Start mentorship and accelerator programs assist emerging brands in going to market with fresh, clean-label, and plant-based products. The company also donates 100% of product extras and 1% of sales to help the local community. Environmentally, the company is committed to using produce seconds whenever possible, composting 100% of waste, and working towards achieving a carbon-neutral facility.