Greenfield Farms Food Inc. announced it is beginning a new licensing program for its "Greenfield Farms Grassfed Beef" trademark, which the company believes will allow it to expand its business and enhance its market and brand presence. With this program, the company will phase away from its traditional business model of taking cattle from farm to market thus eliminating all of the capital and startup costs required for such operations by expanding its brand presence with capable cattle producers and marketers. The company also believes that the trademark licensing concept allows for more rapid market penetration with minimal risk and the ability to more easily ascertain assumed returns.
Greenfield also announced that is has signed its first licensee, Hill Meadow Foods Inc., in an exclusive agreement until December 31, 2013, at which time it will become non-exclusive. The management of Hill Meadow Foods is headed by former Greenfield CEO, Larry Moore.
"This change is business model eliminates significant risk from this business because of the capital and overhead costs involved in getting the cattle to market and on to the retail outlets," commented Greenfield CEO, Henry Fong. "We believe this change will allow for more rapid expansion of the company's brand presence while keeping the highest quality as any prospective licensee would be required to conform to standards we set for delivery of their product."
Source: Greenfield Farms Inc.