Coffee farm group attains $9.6m investment and acquires new land to nearly double its existing holdings as it seeks to become Colombia’s leading coffee producer.
Colombian coffee farm group, The Green Coffee Company (GCC), has attained $9.6m series B funding as it seeks to become Colombia’s leading coffee producer.
According to a press release, GCC has also acquired an additional 2,340 acres of land adjacent its existing network of farms in southwestern Antioquia, a move which the company says will nearly double its existing holdings and makes it second largest producer in the country.
GCC is comprised of 11 farms spanning around 956 hectares around 90km from the city of Medellin. The group promotes a holistic business model, working across the coffee supply chain, from cultivation, to processing and direct trade with end clients.
In August 2021, GCC became the largest Rainforest Alliance-certified coffee producer in Colombia.
The company is part of The Legacy Group, an alternative asset manager that targets profitable investment opportunities with high social and environmental impact in Latin America.
Colombia is the third-largest coffee producer in the world by volume, behind Brazil and Vietnam, producing around 13.4 million 60kg bags in the 2020-21 season. Around 550,000 Colombian families make a living from growing coffee.
World arabica coffee prices have soared by more than 50% in 2021, the highest in nearly a decade, mainly due to coffee farmers in the world’s largest coffee producer, Brazil, being severely impacted by droughts, unseasonable frosts, and Covid-19 disruption.