Organto Foods Stock Price, News & Analysis

Organto Foods Inc. announced an expansion of its I AM Organic product line with NS Stations, adding organic bananas to retail formats. This addition increases Organto's presence by 130 points of sale across the Netherlands' train stations. The bananas are sourced sustainably and sold year-round, accompanied by a digital product passport for transparency. Co-CEO Rients van der Wal expressed excitement over the partnership, focusing on convenience and sustainability. NS Stations aims to offer healthy products, aligning with Organto's mission of accessible organic options.

Organto Foods has launched its organic fresh cut fruits at Julia's, a convenience store in Dutch train stations, aiming to cater to health-conscious commuters. The fruit offerings include organic red apples, white grapes, and blueberries in recyclable packaging. This initiative enhances the company's commitment to sustainability and transparency through digital product passports. Furthermore, Organto clarified its planned acquisition of Beeorganic B.V., correcting the transaction value to €400,000 for shares. The company also granted stock options totaling 300,000 with a five-year term.

Organto Foods Inc. has signed a Letter of Intent to acquire Beeorganic B.V., a Dutch supplier of fairtrade organic bananas, for €900,000 in cash and shares. This acquisition aims to enhance Organto's portfolio of organic fruits and vegetables, leveraging Beeorganic's expertise and assets. Beeorganic expects revenues of approximately CDN $6.0 million with positive EBITDA margins. The deal is considered EBITDA accretive and will facilitate growth in the banana category, aligning with Organto's strategy of internal growth and acquisitions.

Organto Foods Inc. has partnered with Gorillas, listing their I AM Organic branded products in the Netherlands and Belgium. This partnership aims to enhance access to organic fruits and vegetables through rapid delivery methods, promoting sustainability and reducing food waste. The initial product range includes organic bananas, assorted fresh cut fruits, and green asparagus, with plans for expansion across other Gorillas-active countries. The collaboration aligns with Organto's long-term growth strategy to create a unified source of organic produce while improving consumer transparency.

Organto Foods Inc. announced the addition of fresh organic fairtrade bananas to its product portfolio, initially sourced from the Dominican Republic and available year-round. The company aims to achieve annual sales of CDN $5.0 to $7.0 million, ultimately targeting $25.0 million through expanded sourcing and customer growth. Additionally, Organto granted 150,000 stock options to employees at an exercise price of CDN $0.43, with a five-year term. The move aligns with Organto's commitment to sustainability and meeting growing consumer demand for organic products.

Organto Foods Inc. has announced the addition of a variety of organic fresh cut fruits to its product portfolio. This includes red apples, grapes, mango, pineapple, blueberries, and raspberries, sourced from growers in Europe and Latin America. The Company aims to achieve annual sales of approximately CDN $2.5 to $3.5 million within a year, targeting a long-term goal of CDN $10 million. Products will feature eco-friendly packaging and utilize the I AM Organic digital passport technology for transparency regarding product details.

Organto Foods Inc. reported record second quarter revenues of $5,372,162, a 148% increase year-over-year, and the largest quarterly gross profit of $648,987 (12.1% of revenues). Despite operational challenges, including lower avocado prices and logistics issues, the company reaffirmed its 2021 revenue guidance of $35 million to $37 million. Positive balance sheet improvements include cash on hand of $2,760,506 and a working capital of $1,996,710. However, the company reported a net loss of $1,155,758 for the quarter.

Organto Foods Inc. (OGOFF) has entered a strategic agreement with The Greenery Logistics to enhance logistics in key European markets. This partnership aims to streamline product handling, quality control, and warehousing, expected to improve cost efficiencies and service levels. Co-CEO Rients van der Wal emphasized that this collaboration aligns with Organto's asset-light business model and supports the development of its branded products.

The Greenery Logistics is an established market leader with automated distribution centers, focusing on independent logistics services.

Organto Foods has filed a final short form base shelf prospectus with Canadian securities regulators, enabling the company to offer up to CDN $50 million in various securities over the next 25 months. This includes common shares, debt, convertible securities, and more. Though the prospectus allows for future offerings based on market conditions, Organto currently has no immediate plans to raise funds. The company aims to maintain financial flexibility as it develops its organic and value-added products.