Farmstead Manufacturing, a Leeds, UT-based supplier of croissants, donuts, danishes and pastries, received a $1.7M investment from Advantage Capital.
The investment was made in connection with the Utah Rural Jobs Act (RJA)—a program that was first signed into law in 2018 and renewed in 2022. The program supports businesses in rural Utah with needed capital to create full-time, high-wage jobs by providing flexible and affordable capital.
The company intends to use the funds to support the land purchase and build out of a commercial bakery from 1,000-square-feet to 5,000-square-feet to expand its operations and distribution through wholesale, e-commerce, and catering.
Led by CEO Shawn Christensen, and COO Li Hsun, Farmstead Manufacturing is a supplier of croissants, donuts, danishes and pastries to cafes, hotels and wholesalers across Utah, while also providing catering services. With the expansion of its facility, the company will become a major employer in Leeds, Utah with plans to hire 25-30 new employees, offering competitive starting wages of $21 per hour with comprehensive health, dental and vision benefits.
FinSMEs
20/12/2023