David Stone sells Forager to Canadian acquirer
File photo / Tim Greenway
David Stone, founder and CEO of Forager, has sold his company to Local Line, a Canadian local food sourcing platform, for an undisclosed amount.
Serial entrepreneur David Stone has sold Portland-based food procurement startup Forager to Local Line, a Toronto-based local food sourcing platform, for an undisclosed amount.
Forager, founded in 2014, has connected hundreds of Maine’s food producers and retailers via a digital platform the company credits with revitalizing Maine’s local food system.
The strategic acquisition, announced Wednesday, marks a significant milestone for both companies and reinforces their mutual commitment to transforming the food industry, Forager said.
"Maine should be a national leader in food systems. Food is the largest economic segment in the state, and this partnership will continue to accelerate this amazing culture and economy of food innovation,” Stone said in Wednesday’s announcement. “Forager, and now Local Line, are connecting the dots."
Forager emerged from Stone’s vision to counter the carbon-intensive industrialized food supply chain and champion Maine’s local food ecosystem. Since its inception, the platform has garnered tremendous success, facilitating connections between 150 farmers, cheese makers and other food producers with over a dozen grocers in the region.
In dollar terms, more than $20 million worth of food has been procured via the platform.
The new Canadian owner gives Forager access to a wider customer base and a suite of innovative tools for farmers, Forager said. The company said its operations will remain in Maine, reinforcing its commitment to supporting local farms and the state’s vibrant food community.
Local Line views the acquisition as a strategic move to enhance its offerings to farmers.
“Together, we can empower more farmers and revolutionize the way local food systems operate,” said Cole Jones, the company’s CEO.”
The companies said they look forward to a seamless integration and to working together to drive innovation and growth within the food industry.
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