Vital Farms in numbers
Sustainable egg | Learn more on Commonshare | and dairy producer Vital Farms successfully went public last Friday, raising $200 million and reaching a market cap of $1.3 billion. This success boosted the Vital Farms(1) | #Vital Farms | share price by 60%, closing at $35.00 and securing Vital Farms’ status as the largest pasture-raised egg brand in the United States.
Commitment to sustainable, socially responsible practices
What makes Vital Farms’ success so exciting is that it is built on a foundation of commitment to sustainable, socially responsible practices. Vital Farms pays its farmers and plant workers at a premium and does not use futures contracts to hedge on prices.
The beginning of Vital Farms
Founder Matt O’Hayer started Vital Farms as a small egg company with 20 hens. His vision is to produce food | Learn more on Commonshare |from small family farms, but at scale.
In his words: “There doesn’t have to be a tradeoff with being a profitable company and focusing on your stakeholders. We treat the hens like the sentient beings they actually are, not egg-laying machines.”
This approach has been a resounding success. Vital Farms’ products were distributed in 13,000 stores last year, including Kroger | Learn more on Commonshare | and Whole Foods | Learn more on Commonshare |, and reached sales of $140 million.
Not only is Vital Farms profitable, but the company’s net income margin was also 2.3% last year, almost double that of Cal-Maine, the only other publicly traded egg company. The success of Vital Farms is a big win not only for the company but for the cause of sustainable agriculture | Learn more on Commonshare | as a whole.
Vital Farms website | https://vitalfarms.com/ |