AUGUSTA — Maine’s Own Organic Milk Company recently announced that it has successfully completed its third round of investment funding totaling $3,900,000 and reorganized its board of directors.

Maine’s Own Organic Milk Company, or MOO Milk, was formed in 2009 by 10 Maine organic dairy farmers after they had their supply contract terminated by HP Hood. Unable to find another processor, they joined with a small group of early supporters — including the Maine Organic Farmers and Gardeners Association (MOFGA), the Maine Farm Bureau and a handful of local investors — to start up their own company. It has since expanded to now include 12 Maine family farms and has increased distribution of its products to more than 200 retail stores in Maine, Massachusetts, New Hampshire, Connecticut and Rhode Island, as well as organic ice cream producers in four states.

New investor

Concurrent with the recent funding, the company has appointed representatives of its three major investors to the board of directors. New investor, Norman Cloutier, founder and former CEO and chariman of United Natural Foods, Inc., joins Steve Ruchefsky, a representative of early investor Donald Sussman, and Ron Phillips of Maine-based Coastal Enterprises Inc. as its outside directors. Along with CEO Bill Eldridge and three farmer members, this brings a total of seven members to the board.

Cloutier has also agreed to join the company’s Executive Committee and oversee the development of marketing, production and distribution programs to support MOO’s introduction of new products and expansion into new markets.

Commenting on joining MOO, Cloutier said, “I am very pleased and excited to be part of such an important undertaking. Maine’s Own Organic Milk Company represents the values and commitment to sustainable agriculture that are critical to maintaining viable family dairy farms in Maine and throughout the region. As a longtime consumer, marketer and advocate of organic foods, I recognize the critical need for a business model that compensates its farmers at a fair price and without putting the interests of short-term profits ahead of long-term farmer security.”

CEI’s Phillips

Phillips, CEO of CEI, joined the MOO Milk effort in May of 2011 to help grow the company. “With high mission goals, it has been a challenging journey to stay engaged in a very difficult environment,” Phillips said. “But MOO exists today because of the resiliency of the Maine dairy farmer, the persistence of its board and staff to overcome the odds in a tough economy, the support of retailers and consumers to carry and purchase the high quality organic milk product and, most importantly, the patience of a group of social investors to hang in when the odds might say otherwise.”

CEI saw its role as building upon the initial investor base and farmer commitments to help prove the economic potential of the startup business. “With the latest investment round we have added to the company not only capital, but, the experience brought by Norman Cloutier. We hope to continue adding strength and economic opportunity to the dairy industry and benefit local communities in the state of Maine,” Phillips said.

For more information on the company, visit www.moomilkco.com.