Tuesday, January 5, 2021

TruLocal sold to Emerge Co.

TruLocal, an online business started in 2016 to link farmers with meat customers, has been sold for up to $16.8 million to Emerge Co.

TruLocal works from the Communitech Hub for internet startups in Kitchener and employs 55 people there and in Alberta and British Columbia where it has customers.

The COVID-19 pandemic prompted subscriptions to increase three-fold in a six-week period.

Customers sign a subscription to receive boxed meat from local farmers they pick from TruLocal’s website.

The company has plans to enable farmers to set up their own online “store” from which customers can pick what they want to buy.

TruLocal is also in the process of expanding into Quebec.

The full value of the deal remains to be determined because it's a combination of cash and shares in Emerge Co.