GoodLeaf Farms, Canada’s only national and largest vertical farming operator, has completed an equity financing totaling $52 million, to expand the production capacity of GoodLeaf’s farms in Alberta and Quebec and establish a new research and development centre in Ontario.
The past year was transformational for GoodLeaf Farms, marked by accelerated growth and a sharp increase in demand for its Canadian-grown baby greens, microgreens, and blends across Canada. Combined with the launch of its Agricultural Centre of Excellence in Guelph, Ontario as a new hub for research and development, the company is well positioned to lead the vertical farming industry into a strong and viable future, explained the company.
“We entered 2025 with incredible momentum, and by April, demand for our products nearly doubled as Canadians from coast to coast embraced Canadian-grown greens,” said Andy O’Brien, CEO of GoodLeaf Farms. “With this new funding, we will double the capacity of our two largest farms in 2026, giving Canadians even greater access to premium, locally grown baby greens and nutrient dense microgreens.”
GoodLeaf was founded in Halifax in 2011.
Like many Canadian brands this year, GoodLeaf is reaping the benefits of a strong Buy Canadian movement in response to the trade war with the U.S.
“For every Canadian brand, for whatever reason, that first week of March our sales quadrupled and the biggest challenge we had over the course of the next four or five months was meeting the needs of our customers. Not consumers. Loblaw, Sobey’s. It was mayhem. We spent all of our energy on increasing capacity, getting stuff out the door,” said O’Brien.
“The whole Canadian buy sentiment. I’ve been in this business for 30 years. I’ve never seen this level of Canadians before. It was crazy . . . I think it struck a personal cord . . . We’ve been on fire since then. Increasing capacity. Increasing our retail footprint. We’ve launched a bunch of SKUs.”
O’Brien said R&D has been a cornerstone of GoodLeaf for 15 years.
He said the company is evolving the portfolio to more value-added products. Salad kids and salad bowls will be launched in the New Year. Other new products will be launched later in 2026.
The company will be expanding geographically into the northeast U.S. by March or April. It will also expand its channels into other areas such as convenience stores, drugstores, transportation networks.
“The demand for Canadian, the demand for healthier, the demand for 365 high quality long-lasting nutritious produce is just increasing,” said O’Brien.
“Lots going on and part of the (funding) raise was to allow us to do that.”
The recent funding round included investments from new and existing shareholders including Farm Credit Canada (FCC), Power Sustainable Lios and McCain Foods.
“FCC is proud to deepen our partnership with GoodLeaf, supporting Canada’s growing appetite for locally produced, fresh food,” said Adam Smalley, Managing Director of FCC Capital. “GoodLeaf’s innovative approach is exactly what Canada needs to drive productivity, strengthen our food economy and ensure a reliable supply of fresh produce for families nationwide. By investing in forward-thinking businesses like GoodLeaf, FCC is helping secure Canada’s food future for generations to come.”
“The ability to raise funds in today’s market speaks to the confidence investors have in vertical farming as a key solution to Canada’s food security challenges, and the key operational and financial milestones GoodLeaf has achieved,” said Jonathan Belair, Managing Partner of Power Sustainable Lios. “We’re proud to support Canadian companies like GoodLeaf that are reimagining the future of our food system and driving sustainable agriculture forward.”
Part of the new investment will support the creation of a new research and development centre in Ontario focused on developing more sustainable and efficient growing practices across GoodLeaf’s three vertical farms.
“McCain Foods is a homegrown Canadian success story; we invest in fellow Canadian innovators transforming agriculture and advancing sustainability. From the early days, we have been a key partner in GoodLeaf’s development, and we’re excited to continue supporting their mission,” said Charlie Angelakos, Vice President, Global External Affairs and Sustainability of McCain Foods.
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