The funding round includes a $13m lead investment by KAL Investment Group to cultivate the continued growth of the Georgia-based dairy producer. Hart Dairy will utilize the capital to further expand its dairy product range through farm acquisitions and strategic marketing plans to drive sales.
“I am thrilled we have raised in excess of $20m in funding,” said Tim Connell, chief executive officer for Hart Dairy.
“These funds allow us to provide more marketing support as we drive sales velocity on a per-store basis and allow us to purchase farms as part of our farm roll-up strategy. I am very excited about Hart Dairy’s future as we continue to accelerate our business plans and product innovation throughout the US dairy landscape.”
The latest announcement follows Hart Dairy’s recent addition of two new members to its executive team, with Olga Longan serving as the chief finance officer and George Konovalov as the vice president of sales.
Hart Dairy milk products are available in more than 1,900 retail locations as the company continues its expansion plans across the country.