Dairy products retailer buys farmers market for $6 million
A farmer’s market, where milk producers sell their produce to a casual customer for less than $6,000 a year, is booming in the state of Wisconsin.
The Agri-Dairy Products and Foods, Inc. (ADP) announced on Thursday that it had bought the AgriFarm Market in the Milwaukee suburb of Elkhart for $4.8 million.
AgriFarm is the largest dairy farmer’s markets in the United States.
It has been operating since 2013 in the area around the University of Wisconsin-Madison campus.
The market was built on the premise that a farmer’s livelihood is more valuable than a supermarket checkout, said Steve Schuessler, vice president of operations and development for ADP.
“Farmers need to know that they’re contributing to their community.
They need to see that they can buy produce that’s grown on their land.”
In 2016, AgriDairy and its competitors in the dairy industry, including the Aldi and Trader Joe’s chains, launched farmers markets in more than 30 U.S. cities and towns, including Milwaukee.
Schuessler said the Agripanel deal will allow AgriGard to expand its market presence in Wisconsin.
He said the company will continue to invest in new markets as well as in growing its presence in markets in Iowa, Minnesota, Iowa, Missouri, Oklahoma, South Dakota and Texas.
The company is also looking at expansion to markets in other countries.