THE FARMER’S COW AND FC DEVELOPMENT CORP.  FEATURED IN THE HARTFORD BUSINESS JOURNAL FOR THE COMPANIES’ COMBINED EFFORTS IN ESTABLISHING AND EXPANDING THEIR IMPRESSIVELY UNIQUE BUSINESSES AND OFFERINGS

Norwich, Connecticut – May 6, 2025

FC Development Corp. with the Farmer’s Cow and their full Brand of Companies announced today that they have been featured in Connecticut’s Hartford Business Journal for the companies’ combined history of achievements and their work in supporting small family farming, community service and support, and providing their and partner farms’ locally-based farm-fresh food, beverages, and ice cream through the cooperative’s Calfés – and distributed to local grocers and large chain stores including Stop & Shop, Big Y, Whole Foods, and others.

In our committed pursuit to expand our efforts and secure real achievements for farmers and the local farming communities in which we work and live, we continue to develop and put into practice strategic improvements to each of our operational silos – our Calfés; our farm-fresh food and beverages; and our distribution network that supports and serves each local community.  This series of non-stop effort was well-captured and presented by the Hartford Business Journal’s feature story, titled, Restaurant and Food Brand Backed by CT Dairy Farmers Eyes Aggressive Growth, by Michael Puffer, and can be accessed via the following link: https://www.hartfordbusiness.com/article/restaurant-and-food-brand-backed-by-ct-dairy-farmers-eyes-aggressive-growth.

“We have spent the past few years developing an incredible ecosystem of revenue streams with our cooperative and strategic brand partners,” said Steve Lane, President of FC Development Corp. “Farmers everywhere face immense challenges, and through this process we have built a significant viability model for them, one that we are now moving from development to growth. This will not just support our current cooperative and partner farmers, but many more family farms along the way.”

Our fast-casual dining experience showcased within our Calfés bring farm-fresh quality to a whole new level. This unique concept is a product of our ongoing strategic partnership with The Farmer’s Cow Cooperative, designed to introduce locally-sourced, and house-made products to a broader audience thereby supporting both the farmers and our local communities, while offering a dining experience that prioritizes quality and uniqueness.

Lane further explained how creating the restaurants is about the impact for farmers and the passion of the development company’s founder, Steven Ayer, who has a true commitment to feeding people and those in need.  Ayer, who is also immersed in another high-profile (i.e., finance) industry, has a special place in his heart for farms and farmers – it has been a passion mission to help build out the ‘Calfés.’  Ayer’s family owns a farm dating back to 1665, Ayer Farm in Franklin, and he recalls when his grandfather was forced to sell the dairy herd in 1979 because they couldn’t make ends meet. “Dairy farming is really hard work,” he said. “You’re at the mercy of so many things including big agriculture and business, the weather, and wild fluctuations in the price of milk.” Ayer continued, “The farmers involved in the Farmer’s Cow are just good, hard-working people and I wanted to help them, knowing the challenges that they face on a daily basis.”

Several years ago, before he partnered with The Farmer’s Cow, Ayer began giving vegetables away from what his family and he had grown on the farm, helping people within his and surrounding communities in need – and it became a ‘real passion.’ “I love every part of farming,” he said.

Some excerpts from the Hartford Business Journal’s article that highlight the efforts of the entire Farmer’s Cow Brand follow here:

The farmers and organizers behind the brand are eying a significant expansion this year, with plans to add a line of cheeses on store shelves and one new Farmer’s Cow Calfe & Creamery restaurant. They aim to add at least two more restaurants and additional locally grown retail products in 2026.

The effort will be fueled this spring by an equity fundraising campaign through online crowdfunding investment site StartEngine,” said Steven Ayer, chairman of FC Development Corp., the investment and management vehicle for the Farmer’s Cow brand. “The goal is to raise up to $2.5 million from investors within six months.  It’s about partnering with farmers to help launch the brand into the next level,” he added. “People love the brand. They love the idea of supporting the local farmer. People are passionate about that.”

Bill Peracchio, a member of the family that owns Hytone, said there were about 1,700 registered dairy farms in Connecticut when he enrolled in the University of Connecticut’s agricultural school in 1969. Today, there are 85. They face the constant squeeze of rising prices for feed, energy and other inputs. Hytone has about 400 milking cows and 240 calves on its 250-acre farm, which produces more than 3,500 gallons of milk daily.  Peracchio’s farm also hosts an organic digester that composts manure and food waste. Methane is siphoned off and burned by a generator to produce electricity sold into the electric grid. The resulting compost is spread over Hytone’s fields to help raise cow-feed crops.

“If you are dealing with farmers, you are dealing with optimists, because if you are not an optimist, you can’t do this business,” Peracchio said. “Because we are going to put half-a-million dollars of money into the ground expecting a return at the end of the year, whether there’s a drought or a hurricane or a flood or whatever. We are raising cattle or breeding cattle to come into this operation. Well, we are figuring things are going to be good going forward.”

Ayer, a partner in Norwich-based boutique wealth management firm Strata Wealth Partners at Hightower, said FC Development is in a phase where any profits are reinvested into the company. He aims to begin paying dividends in about five years. He said FC Development’s value — as measured by online startup valuation platform Equidam — has increased from $3 million to $22 million.

FC Development Corp. recently engaged Fayetteville, Arkansas-based marketing firm The Artist Evolution for its new push.  The company is also working with North Haven-based ShelfSpace Marketing to develop new Farmer’s Cow-branded products, and get them onto grocery shelves.

The restaurants and retail products both reinforce each other’s identity, said FC Development CEO Edwin Molina. “I see the restaurants as a megaphone to the community with the grocery stores,” Molina said. “It all ties together.”

Jim Smith, part-owner of Cushman Farm in Franklin and chairman of The Farmer’s Cow LLC, said the cooperative hopes to eventually draw in all Connecticut dairy farmers, cutting them into the retail markup for processed milk. Smith’s 2,300-acre Cushman Farm has 1,700 milking cows and 1,200 calves. Last year it produced about 5 million gallons of milk. The farm leases another 1,200 acres of cropland. “Ideally, what we want to do is market all Connecticut milk through The Farmer’s Cow to narrow the gap of the higher cost of farming here and other places,” Smith said.

About FC Development Corp.

FC Development Corp. functions as the premier management and development entity for the esteemed Farmer’s Cow brand of companies, partnering with the Farmer’s Cow collective of six Connecticut-based family farms (i.e., the Farmer’s Cow Cooperative). FCDC was established to extend and manage the cooperative’s brand, addressing systemic challenges like the financial pressures of large agribusinesses, environmental regulations, and global competition for farmland. Recognizing these obstacles as opportunities, FCDC focuses on diversifying revenue streams, boosting brand visibility, and safeguarding the future of small family farms. This commitment is reinforced by a leadership team with expertise across finance, technology, energy, marketing, and more, collectively responsible for founding multi-million-dollar companies and raising hundreds of millions in capital.

About The Farmer’s Cow

Founded in 2003, The Farmer’s Cow cooperative unites six family-owned Connecticut dairy farms that have collectively preserved more farmland through the Connecticut Farmland Preservation Act than any other group in the state. This commitment, and 20 years of proven success, earned them the prestigious Connecticut Legacy Recognition Award in 2023, affirming their contributions to manufacturing, retail, restaurants, franchising, and clean energy – the sole recipient for the state.

For More Information:

Contact FC Development Corp. at info@fcdevcorp.com
To learn more, visit: https://fcdevcorp.com