Organto Expands Sales into Asia
- Organto expands into Asian market, opening up growth opportunities in large and growing markets.
- None.
Initial Sales to International Retailer for Chinese Market
TORONTO, ON and BREDA, THE NETHERLANDS / ACCESSWIRE / October 3, 2023 / Organto Foods Inc. (TSXV:OGO)(OTCQB:OGOFD)(FSE:OGF) ("Organto" or "the Company"), a leading provider of organic and non-GMO fruit and vegetable products, today announced that it has successfully expanded its sales into Asia with an international retailer, representing the first substantive sales for Organto outside of its established European markets. The sales are being managed from Organto's commercial platform located in the Netherlands for distribution in the retailer's Chinese operations.
"We are pleased to expand our customer base into Asia, and we are excited by the opportunity to grow in these large and growing markets. Working closely with an international retailer allows us to maximize their market knowledge while leveraging our sourcing and supply capabilities." commented Rients van der Wal, Co-CEO of Organto Foods Inc. and CEO of Organto Europe B.V. "Expanding beyond our current European markets in a thoughtful and responsible manner aligns with our strategy of bringing healthy and nutritious fruits and vegetables to consumers around the world."
Organto is an integrated provider of branded, private-label, and distributed organic and non-GMO fruit and vegetable products serving growing global demand for healthy and socially responsible foods. Organto operates a strategic and flexible asset-light business model, sourcing products from five continents, and using its certification, supply chain, marketing, and distribution expertise currently brings products to markets across Europe, and now Asia. Organto markets a number of branded product offerings, including its flagship I AM Organic brand along with non-GMO brands ORO and Awesome Fruits. Organto has realized sixteen consecutive quarters of record revenue growth versus the same quarter in the prior year. Organto's long-term growth strategy is to build an ethics-driven "one-stop-shop" in fresh organic and specialty fruit and vegetable products fueled by a combination of strong internal growth and acquisitions.
ON BEHALF OF THE BOARD,
Steve Bromley
Chair and Co-Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
For more information contact:
Investor Relations
info@organto.com
John Rathwell, Senior Vice President, Corporate Development and Investor Relations
647 629 0018
ABOUT ORGANTO
Organto is an integrated provider of branded, private label, and distributed organic and non-GMO fruit and vegetable products using a strategic asset-light business model to serve a growing socially responsible and health-conscious consumer around the globe. Organto's business model is rooted in its commitment to sustainable business practices focused on environmental responsibility and a commitment to the communities where it operates, its people, and its shareholders.
FORWARD LOOKING STATEMENTS
This news release may include certain forward-looking information and statements, as defined by law including without limitation Canadian securities laws and the "safe harbor" provisions of the US Private Securities Litigation Reform Act of 1995 ("forward-looking statements"). In particular, and without limitation, this news release contains forward-looking statements respecting Organto's business model and markets; Organto's belief that expanding beyond current European markets in a thoughtful and responsible manner aligns with its strategy of bringing healthy and nutritious fruits and vegetables to consumers around the world; Organto's belief that expand the Asian market is large and growing; Organto's belief that working closely with an international retailer to enter the Asian market will allow Organto to maximize on their market knowledge while leveraging Organto's sourcing and supply capabilities; Organto's belief that demand for sustainable, transparent fresh organic fruit and vegetables continues to grow globally; management's beliefs, assumptions, and expectations; and general business and economic conditions. Forward-looking statements are based on a number of assumptions that may prove to be incorrect, including without limitation assumptions about the following: the ability and time frame within which Organto will execute and implement the Consolidation; Organto's business model will be implemented and product supply will be increased; cost increases; dependence on suppliers, partners, and contractual counter-parties; changes in the business or prospects of Organto; unforeseen circumstances; risks associated with the organic produce business generally, including inclement weather, unfavorable growing conditions, low crop yields, variations in crop quality, spoilage, import and export laws, and similar risks; transportation costs and risks; general business and economic conditions; and ongoing relations with distributors, customers, employees, suppliers, consultants, contractors, and partners. The foregoing list is not exhaustive and Organto undertakes no obligation to update any of the foregoing except as required by law.
SOURCE: Organto Foods Inc.
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