We are a composting company that has pioneered the manufacture and distribution of bagged, compost-based, organically listed gardening soils in the Northeast and established a very strong consumer brand and market share, especially in New England.
Our mission has been and remains convincing suburban homeowners that the key to successful gardening is healthy, biologically active soil, best achieved with lots of well-made compost. We are composters specializing in fish, shell fish and farm manures, and are skilled marketers and brand managers. We sell exclusively through independent garden centers, also known as IGCs, as well as Whole Foods and Wegmans, both direct and through a few hard-goods distributors. We also have increasingly focused our selling and marketing efforts on the creative use of social media (check out our website, Facebook and YouTube pages).
We have just started our 18th fiscal year, building on a very good FY13 (sales +17 percent to $5.2 million, orders +25 percent to $5.7 million, and EBITDA of $500,000) and have made important breakthroughs with the nation’s largest IGC cooperative buying group, Master Nursery Garden Centers, and with True Value Home & Garden Showplace garden centers. We are poised to hit $6.5 million this year.
We also are expanding our composting operations in Maine to accommodate a significant increase in available lobster waste, which makes exceptional compost, and are contemplating a joint venture in a dehydration plant at our Downeast Maine facility to produce kelp and lobster meal, as well as dehydrated compost. The former would allow a well-supported entry into the granular organic fertilizer segment, the latter an easily applied lawn top dressing to get us into the lawn segment.
We have clearly reached a point of inflection and believe we can grow the business to $25 million in the next five years, establishing a national brand with a line of unique, premium-priced, high-quality “organic approved” soils and fertilizers. To accomplish this, we need to buy out our institutional shareholders (+/-$2 million) and invest an additional $1 million in operational, selling and marketing infrastructure.
If you’d like to learn more about how you can help or invest with Coast of Maine Organics, get in touch with Carlos Quijano at firstname.lastname@example.org.Register Now