Farmer's Fridge, the Chicago-based company that sells salads out of vending machines is planning to expand in Milwaukee and other areas in the Midwest by adding an additional 200 locations this year.
CEO Luke Saunders' dream of increasing the accessibility of healthy food recently received a healthy boost of financing from Danone Ventures, the venture capital arm of the global dairy company, and Cleveland Avenue, the Chicago-based investment firm founded by former McDonald's CEO Don Thompson, among other investors. The financing round amounted to roughly $10 million; none of the investors took a majority stake.
"We're trying to be scrappy and make it. Because we see that as what matters. Setting the number at 200 (new locations) is ambitious. I think we can do it. But the ultimate goal is to be a successful company," Saunders said.
Farmer's Fridge, which was founded by Saunders in 2013 and currently has 75 locations in the Chicago area, has been busy hiring staff to help with the expansion, adding about 20 employees in the past three months to bring the head count to about 60. That number figures to keep growing.
source: chicagotribune.com
