CENTENNIAL, Colo. – Greenfield Farms Food Inc. is starting a new licensing program for its grassfed beef and moving away from its traditional business model of taking cattle from farm to market, the company announced March 12. The company said the move will spur market penetration with minimal risk.
"This change is business model eliminates significant risk from this business because of the capital and overhead costs involved in getting the cattle to market and on to the retail outlets," said Henry Fong, Greenfield CEO. "We believe this change will allow for more-rapid expansion of the company's brand presence while keeping the highest quality as any prospective licensee would be required to conform to standards we set for delivery of their product."
The company's first licensee is Hill Meadow Foods Inc., which is headed my Larry Moore, former Greenfield CEO. Hill Meadow has an exclusive agreement until Dec. 31.
Greenfield Farms Food is a publicly traded producer and marketer of grassfed beef. The company supplies a North Carolina grocer on a limited basis.