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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, Inc. (NASDAQ: VFF) announced the launch of the Synergy Collection through its subsidiary, Balanced Health Botanicals. This product line includes innovative hemp-derived CBD products featuring functional mushrooms, Kava Root, and Cannabidiolic Acid (CBDA), aimed at enhancing the entourage effect. The collection consists of tinctures, vegan capsules, and gummies categorized into Daytime, Sleep, Raw, and Wellness Synergy. This milestone is expected to solidify CBDistillery's position as a leading US CBD brand, leveraging years of product development.
Village Farms International (NASDAQ: VFF) will participate in the Benzinga Cannabis Capital Conference on October 14-15, 2021, in New York City and virtually. CEO Michael DeGiglio is set to present on October 14 at 1:10 p.m. ET. A live webcast of the presentation will be accessible on the company’s website, archived for 90 days. The company is recognized for its significant cannabis operations through its subsidiary Pure Sunfarms, and plans to enter the U.S. high-THC cannabis market leveraging its greenhouse expertise.
Village Farms International (NASDAQ: VFF) announced that its CEO, Mandesh Dosanjh, will participate in the A.G.P./Alliance Global Partners Virtual Fall Consumer Cannabis Conference on October 5, 2021. Dosanjh will be part of a panel discussing innovation in Canadian cannabis at 10:00 a.m. ET. The event will be webcast live on the company's website and archived for 90 days. Village Farms, through its subsidiary Pure Sunfarms, is a leading player in the cannabis industry, recognized for its low-cost greenhouse production and strong market presence.
Village Farms International (NASDAQ: VFF) announced that its subsidiary, Pure Sunfarms, has completed its first export of high-THC dried flower products to Altum International for the Australian medicinal cannabis market. This marks a significant milestone as it expands into Australia, which is experiencing a strong growth in its medicinal cannabis market, with patient numbers rising significantly. Additionally, Pure Sunfarms has commenced cultivation in its second greenhouse facility, Delta 2, with harvesting expected to begin in November and is in the process of obtaining EU-GMP certification.
Village Farms International (NASDAQ: VFF) announced a pivotal option agreement to acquire an 80% stake in Leli Holland B.V. for EUR 3,950,000, with an initial payment of EUR 950,000 due upon exercise. Leli is among ten companies eligible for a cannabis production license in the Netherlands, anticipated to open Europe's first legal recreational cannabis market through the Dutch Supply Chain Experiment. Village Farms aims to leverage its extensive experience in controlled environment agriculture (CEA) and plans to develop two production facilities, fulfilling a potential demand of up to 485,000 kilograms annually.
Village Farms International unveiled new corporate branding and a website on Sept. 15, 2021, reflecting its transformation into a vertical integrated plant-based consumer products company targeting high-growth opportunities in North America and globally, particularly in cannabinoids and health products. The branding emphasizes core values such as integrity and sustainability, encapsulated in the slogan 'Good, for All™'. CEO Michael DeGiglio highlighted significant sales growth, nearly doubling since 2017, and expressed optimism in the company's future, aiming for durable shareholder value. An updated investor presentation was also released.
On August 16, 2021, Village Farms International (NASDAQ: VFF) announced its acquisition of Balanced Health Botanicals (BHB) for US$75 million, consisting of US$30 million in cash and US$45 million in common shares. BHB, known for its brand CBDistillery, holds a significant market share in the CBD industry and will enhance Village Farms' e-commerce capabilities and retail access in the US. The acquisition aligns with Village Farms' strategy to expand into high-growth plant-based consumer goods and cannabis sectors, leveraging its extensive supply chain and greenhouse operations.
Village Farms International has acquired 100% of Colorado-based CBD-platform Balanced Health Botanicals for US$75 million. This acquisition grants Village Farms immediate entry into the US CBD market, which is projected to grow to US$16 billion by 2025. Balanced Health is a profitable entity with a strong e-commerce presence through its brand CBDistillery™, contributing expected annual sales of over US$30 million. The transaction is expected to be immediately accretive to net income, enhancing Village Farms' strategic positioning in the cannabis industry.
Village Farms International (NASDAQ: VFF) reported significant growth in its Q2 2021 results. Pure Sunfarms achieved a 22% sequential increase in retail branded sales, marking the fourth consecutive quarter of growth, and a 192% increase in adjusted EBITDA to C$9.1 million. Total net sales rose 38% sequentially, attributed to strong performance in the dried flower market, where Pure Sunfarms became the top-selling licensed producer in Ontario. The company's expansion strategy includes a 50% capacity increase in cultivation. However, the produce segment faced a 4% decline in sales due to lower tomato prices.
Village Farms International (VFF) plans to release its second quarter 2021 financial results on August 9, 2021, at 7:00 a.m. ET. A conference call will follow at 8:30 a.m. ET for discussion of the results. The call can be accessed via telephone or online. Village Farms is a major greenhouse grower in North America and aims to be a leader in cannabis and CBD products. Its subsidiary, Pure Sunfarms, is a significant global player in cannabis production, generating positive adjusted EBITDA for nine consecutive quarters.
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