Middleburg, VA, Aug. 04, 2020 (GLOBE NEWSWIRE) — Forbes magazine, reporting on Vital Farms blockbuster IPO, said it proves Wall Street has an appetite for sustainable farming. The public offering, made during an historical downturn in the market, gave Vital Farms $200 million and set its market cap at $1.3 billion. Just 2 years ago, its value was estimated at $136 million.
Vital Farms is the largest pasture-raised egg brand in the U.S., growing from a start-up to market dominance in just a few short years based on founder Matt O’Hayer’s bet that a more ethical set of operating standards – paying farmers and plant workers more and selling eggs from humanely raised hens – would appeal to consumers.
O’Hayer told Forbes, “We wanted to produce food from small family farms at scale. We treat hens like the sentient being they are, not egg-laying machines.”
“We applaud Matt O’Hayer on his commitment to animal welfare and for his belief in the Humane Farm Animal Care standards for pasture-raised laying hens. The Certified Humane® logo on their egg cartons also reinforced consumers’ confidence in the Vital Farm brand,” says Mimi Stein, Executive Director of HFAC.
About Humane Farm Animal Care (HFAC) and the Certified Humane® program.
Humane Farm Animal Care, headquartered in the Washington DC Metropolitan region, is a worldwide organization and administer of the Certified Humane® program founded in 2003 in response to grocery shoppers’ demand for treatment guidelines for farm animals in food production. For animal agriculture businesses in North and South America, Europe, the Middle East and Asia, the Certified Humane® logo verifies that food products have come from operations that meet precise, scientific standards for farm animal treatment.
HFAC is endorsed by the ASPCA, the Center for Food Safety and more than 70 other humane groups. Among other things, HFAC’s Standards requires that:
Certified Humane® products are currently available in over 60,000 stores and restaurants worldwide. As of 2019, more than 250 companies, representing 6,000 farms and 1 billion farm animals, have joined the program.