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Village Farms International, Inc. (symbol: VFF) is a leading North American grower and marketer of branded, high-quality, hydroponic greenhouse-grown produce. The company produces a variety of fresh vine-ripened tomatoes, bell peppers, and cucumbers that are handpicked at their peak flavor. With operations in British Columbia and Texas, Village Farms is committed to exceeding customer expectations through quality produce, food safety standards, and sustainable growing practices.
Village Farms prides itself on their HydroPerfect® growing methods, which allow for year-round production of vegetables that are healthier for both consumers and the planet. The company operates intensive agricultural greenhouse facilities and also delves into the cannabis industry through its wholly owned subsidiary, Pure Sunfarms, which supplies cannabis products to other licensed providers and provincial governments in Canada and internationally. Another subsidiary, Balanced Health, focuses on developing and selling CBD-based products including ingestible, edible, and topical applications.
The company’s core business is divided into four operating segments: Produce, Cannabis-Canada, Cannabis-U.S., and Energy, with a majority of revenue generated from the Produce segment. Village Farms has demonstrated consistent industry leadership, evidenced by its #1 position in Ontario's licensed producer market and significant market share gains in Quebec, Alberta, and British Columbia. Recent launches such as Super Toast have rapidly gained national momentum in Canada, reinforcing Village Farms' market standing.
Village Farms continues to expand its footprint and market presence, consistently retaining dominant positions in various categories across multiple provinces. As of May 2024, the company is poised to expand further into Atlantic Canada, ensuring nationwide availability of its leading brands.
Village Farms International (NASDAQ: VFF) has expanded its international cannabis strategy by commencing shipments of cannabis to Israel through its subsidiary, Pure Sunfarms. This follows a three-year exclusive agreement with Better Pharma, which has a strong distribution network covering over 95% of Israeli pharmacies. Initial product offerings will include popular strains like Pink Kush. Despite challenges in U.S. cannabis legislation, Village Farms focuses on markets with better regulatory frameworks, including Australia and Germany. This move signifies a significant milestone in its global cannabis strategy.
Village Farms International (NASDAQ: VFF) reported its Q3 2022 financial results, showing a slight sales decline to $71.1 million. However, the Canadian Cannabis segment thrived, with sales up 14% year-over-year, driven by Pure Sunfarms and Rose LifeScience. The company achieved adjusted EBITDA of -$2.2 million, down from $6.9 million in Q3 2021. Notably, Village Farms became Canada's #3 cannabis producer and #1 in October 2022. Retail branded sales surged 46% YOY. Fresh Produce operations faced challenges, including cost inflation and product supply issues.
Village Farms International (NASDAQ: VFF) will announce its third quarter 2022 financial results on November 9, 2022, at 7:00 a.m. ET. A conference call to discuss these results is scheduled for the same day at 8:30 a.m. ET. Participants can join via phone or online. The company has a strong position in the cannabis and CBD markets, with its subsidiary Pure Sunfarms being a major player in Canada. Additional details regarding the call can be accessed from the company's investor relations page.
Village Farms International (NASDAQ: VFF) will participate in the A.G.P./Alliance Global Partners Virtual Consumer Cannabis Conference on October 4, 2022, at 2:00 p.m. ET. Orville Bovenschen, Vice President of European Business Development, will discuss the Potential of Germany's Adult-use Market. A live webcast will be available on their website and archived for 90 days. Village Farms is a leader in controlled environment agriculture, focusing on high-growth cannabis and CBD markets in North America and internationally.
Village Farms International (NASDAQ: VFF) has acquired an 85% stake in Leli Holland, which received the final license to cultivate cannabis under the Dutch Closed Supply Chain Experiment in the Netherlands. This makes the Netherlands the first major European country to permit large-scale recreational cannabis cultivation, commencing next year. The program aims to assess the effects of regulated cannabis supply to retailers. Village Farms aims to leverage its extensive experience in controlled agriculture to succeed in this market.
Village Farms International (NASDAQ: VFF) reported its Q2 2022 financial results, showing a 18% increase in consolidated revenue to $82.9 million year-over-year. Canadian cannabis sales surged 25% to a record $29.8 million, driven by strong performance from its Pure Sunfarms brand, which remains the top seller in Canada. However, the company faced a net loss of $36.6 million due to impairments and rising costs, leading to negative adjusted EBITDA of ($10.3 million).
Village Farms International (VFF) will hold a conference call on August 9, 2022, at 8:30 a.m. ET to discuss its second-quarter financial results. The results will be released on the same day at 7:00 a.m. ET. Participants can join by phone or online. Village Farms is a significant player in controlled environment agriculture with a focus on high-growth cannabis and CBD markets, leveraging its experience in fresh produce. The company operates Pure Sunfarms, one of the largest cannabis operations in Canada, and has plans for expansion into the U.S. cannabis market.
Balanced Health Botanicals, a subsidiary of Village Farms International (NASDAQ: VFF), announced significant findings from a Pathfinder Mission analyzing the effects of its Daytime Synergy 500mg CBG + 500mg CBD tincture on anxiety. Conducted with MoreBetter, the study revealed that 83% of participants experienced quality of life improvements, with 90% recommending the product for mild anxiety. Users reported benefits such as increased focus and relaxation. These insights underscore CBDistillery’s commitment to research and innovation in cannabinoid wellness, responding to rising anxiety rates impacting over 40 million U.S. adults.
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