Investor puts $3 million into MOOMilk
AUGUSTA — An anonymous New Hampshire benefactor has invested $3 million in Maine’s Own Organic Milk (MOOMilk), an Augusta-based company that launched in 2009 after H.P. Hood, Inc. dropped 10 Maine organic dairy farmers.
Company officials say the equity investment, which makes the anonymous investor part owner, is large enough to stabilize the startup for the foreseeable future.
The deal, which was finalized May 20, was facilitated through Slow Money Maine, a group of farmers, entrepreneurs and businesspeople interested in supporting local and sustainable food systems.
MOOMilk, which can receive grants and endowments as if it were a non-profit or co-op, produces 11,000 gallons of organic milk a week from 12 farms throughout the state including Chase’s Organic Dairy Farm in Mapleton.
