Organto Announces Plans to Expand into North America
- Organto plans to enter the US market in late 2023, leveraging its capabilities in organic and non-GMO fruit and vegetable products. The US market offers immense potential due to increased consumer consciousness of food choices and a growing demand for healthier alternatives.
- None.
Initially into the United States, the Largest Organic Foods Market in the World
TORONTO, ON and BREDA, THE NETHERLANDS / ACCESSWIRE / October 5, 2023 / Organto Foods Inc. (TSXV:OGO)(OTCQB:OGOFF)(FSE:OGF) ("Organto" or "the Company"), a leading provider of organic and non-GMO fruit and vegetable products in Europe, today announced that it plans to expand its existing platform and enter the North American market, initially in the US. With its extensive experience in sourcing, distribution, and marketing of organic and non-GMO fruit and vegetable products in a number of European markets, and most recently Asia, Organto plans to leverage its capabilities and enter the US market in late 2023. Organto is in the process of building an experienced team as well as developing strategic partnerships to support this market expansion.
Rients van der Wal, Co-CEO of Organto Foods Inc. and CEO of Organto Europe B.V. commented, "The decision to enter the North American marketplace comes as part of our strategic expansion plan which is focused on leveraging the platform we have built and expand into new markets. Adding North America to our platform will enhance the service we can provide to our strategic supply partners and our international customers, while at the same time leveraging our diverse sourcing, distribution, and marketing expertise. The United States is the largest organic foods market in the world, and with consumers becoming more conscious of their food choices and seeking healthier alternatives, we recognize the immense potential the US market offers, and we are excited to enter this market with our unique value proposition."
Organto is an integrated provider of branded, private-label, and distributed organic and non-GMO fruit and vegetable products serving global demand for healthy and socially responsible foods. Organto operates a strategic and flexible asset-light business model, sourcing products from five continents, and uses its certification, supply chain, marketing, and distribution expertise to bring products to markets across Europe and Asia. Organto markets a number of branded product offerings, including its flagship I AM Organic brand and 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 the US is the largest organic foods market in the world and entering the US marketplace will provide multiple opportunities for future growth; Organto's belief that adding North America to its platform will enhance the service it can provide for strategic supply partners and international customers; 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: 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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