Village Farms International Expands Medical Cannabis Distribution to New Zealand
Village Farms International (NASDAQ: VFF) has announced its expansion into New Zealand's medical cannabis market through its subsidiary Pure Sunfarms. The company has completed its first shipment featuring Pink Kush, the top-selling dried flower strain in Canada over the past four years.
The products will be distributed by Medleaf Therapeutics under the 'Bloom' brand through their nationwide network of clinics and healthcare practitioners. The New Zealand cannabis market shows promising growth potential with a projected compound annual growth rate of 58% by 2030.
Village Farms International (NASDAQ: VFF) ha annunciato la sua espansione nel mercato della cannabis medica della Nuova Zelanda attraverso la sua filiale Pure Sunfarms. L'azienda ha completato la sua prima spedizione contenente Pink Kush, la varietà di fiori secchi più venduta in Canada negli ultimi quattro anni.
I prodotti saranno distribuiti da Medleaf Therapeutics sotto il marchio 'Bloom' attraverso la loro rete nazionale di cliniche e professionisti della salute. Il mercato della cannabis in Nuova Zelanda mostra un promettente potenziale di crescita con un tasso di crescita annuale composto previsto del 58% entro il 2030.
Village Farms International (NASDAQ: VFF) ha anunciado su expansión en el mercado de cannabis medicinal de Nueva Zelanda a través de su subsidiaria Pure Sunfarms. La compañía ha completado su primer envío que incluye Pink Kush, la cepa de flores secas más vendida en Canadá durante los últimos cuatro años.
Los productos serán distribuidos por Medleaf Therapeutics bajo la marca 'Bloom' a través de su red nacional de clínicas y profesionales de la salud. El mercado de cannabis de Nueva Zelanda muestra un prometedor potencial de crecimiento con una tasa de crecimiento anual compuesta proyectada del 58% para 2030.
Village Farms International (NASDAQ: VFF)는 자회사 Pure Sunfarms를 통해 뉴질랜드의 의료용 대마초 시장으로의 확장을 발표했습니다. 이 회사는 지난 4년 동안 캐나다에서 가장 많이 판매된 건조 꽃 품종인 Pink Kush를 포함한 첫 번째 선적을 완료했습니다.
제품은 Medleaf Therapeutics에 의해 'Bloom' 브랜드로 전국의 클리닉 및 의료 전문가 네트워크를 통해 배포될 것입니다. 뉴질랜드의 대마초 시장은 2030년까지 58%의 연평균 성장률이 예상되며 유망한 성장 잠재력을 보여줍니다.
Village Farms International (NASDAQ: VFF) a annoncé son expansion sur le marché du cannabis médical en Nouvelle-Zélande à travers sa filiale Pure Sunfarms. L'entreprise a complété sa première expédition contenant Pink Kush, la variété de fleurs séchées la plus vendue au Canada au cours des quatre dernières années.
Les produits seront distribués par Medleaf Therapeutics sous la marque 'Bloom' à travers leur réseau national de cliniques et de professionnels de la santé. Le marché du cannabis en Nouvelle-Zélande montre un potentiel de croissance prometteur avec un taux de croissance annuel composé de 58% d'ici 2030.
Village Farms International (NASDAQ: VFF) hat seine Expansion in den medizinischen Cannabis-Markt Neuseelands durch seine Tochtergesellschaft Pure Sunfarms angekündigt. Das Unternehmen hat seine erste Lieferung mit Pink Kush abgeschlossen, der meistverkauften getrockneten Blüten-Sorte in Kanada in den letzten vier Jahren.
Die Produkte werden von Medleaf Therapeutics unter der Marke 'Bloom' über ihr landesweites Netzwerk von Kliniken und Gesundheitsdienstleistern verteilt. Der neuseeländische Cannabismarkt zeigt ein vielversprechendes Wachstumspotenzial mit einer prognostizierten jährlichen Wachstumsrate von 58% bis 2030.
- Entry into new international market with high growth potential (58% CAGR by 2030)
- Distribution partnership with established local company Medleaf
- Expanding global reach with top-selling Pink Kush strain
- None.
Insights
Village Farms' expansion into New Zealand's medical cannabis market represents a strategic but likely modest near-term revenue opportunity for this $84 million market cap company. While the 58% projected CAGR through 2030 sounds impressive, New Zealand's medical cannabis market is still nascent with an estimated current size of only $5-10 million annually, meaning initial sales impact will be minimal.
This move should be viewed in context of VFF's broader international strategy. The company has been aggressively pursuing overseas markets to offset challenging conditions in its core Canadian operations, where cannabis prices have faced persistent downward pressure. VFF's Canadian cannabis segment generated
International medical markets typically command higher margins than recreational channels, potentially
For investors, the key question is whether these international initiatives can meaningfully improve VFF's financial profile. The company has struggled with profitability, reporting a
The strategic value lies in establishing early market position in developing cannabis markets globally, potentially creating more substantial revenue streams if these markets accelerate faster than projected.
– Company Expands Exports to Overseas Medical Cannabis Market with Top-Selling Pink Kush Cultivar –
VANCOUVER, British Columbia, Feb. 27, 2025 (GLOBE NEWSWIRE) -- Village Farms International, Inc. (“Village Farms” or the “Company”) (NASDAQ: VFF) today announced its first shipment to New Zealand through its wholly-owned subsidiary Pure Sunfarms. The shipment features Pink Kush, the top-selling dried flower strain over the past four years1 in Canada, the largest federally legal market in the world.
Pink Kush, along with a portfolio of our globally recognized strains, will be distributed in New Zealand by Medleaf Therapeutics (“Medleaf”) under its the ‘Bloom’ brand, created specifically for products from Pure Sunfarms. Medleaf is an established New Zealand-based medical cannabis company with a comprehensive distribution network, collaborating with clinics and healthcare practitioners nationwide. The New Zealand cannabis market is projected to grow at a compound annual growth rate of
Michael DeGiglio, Chief Executive Officer of Village Farms commented, “Pink Kush is a major contributor to the continuing success of Village Farms’ Canadian Cannabis business and is being sought out internationally as we continue expanding our presence in strategic markets around the world. We are proud to export Pure Sunfarms’ leading cannabis products to growing international medical markets, and to announce this partnership with Medleaf. The addition of New Zealand to our international portfolio represents another meaningful step forward in our strategy to continue to grow our international cannabis business.”
Courtney Letica, Chief Executive Officer of Medleaf, commented, “We are excited to bring Canada’s number one cannabis product to New Zealand patients. Pure Sunfarms’ renowned Pink Kush has an amazing track record and we are eager to share this offering.”
About Medleaf Therapeutics
Medleaf Therapeutics, founded in 2018, is one of the leading local Cannabis suppliers, focused exclusively on branding, distribution and sales. Medleaf has a preference for market proven Medical Cannabis products, so has focused on Canadian suppliers such as Pure Sunfarms with excellent track records.
About Village Farms International
Village Farms leverages decades of experience as a large-scale, Controlled Environment Agriculture-based, vertically integrated supplier for high-value, high-growth plant-based Consumer Packaged Goods. The Company has a strong foundation as the leading and longest-tenured fresh produce supplier to grocery and large-format retailers throughout the US and Canada and is capitalizing on new high-growth opportunities in the cannabis and CBD categories in North America, the Netherlands and selected markets internationally.
In Canada, the Company's wholly-owned Canadian subsidiary, Pure Sunfarms, is one of the single largest cannabis operations in the world, the lowest-cost greenhouse producer and one of Canada’s best-selling brands. The Company also owns
Internationally, Village Farms is targeting selected, nascent, legal cannabis and CBD opportunities with significant medium- and long-term potential. The Company exports medical cannabis from its EU GMP certified facility in Canada to a growing list of international markets including Germany, the United Kingdom, Israel, and Australia. The Company is expanding its international presence with additional export contracts to new countries and customers in the Asia-Pacific and European regions, as well as select strategic investments in operating assets. In Europe, wholly-owned Leli Holland has one of 10 licences to grow and distribute recreational cannabis products.
In the US, wholly-owned Balanced Health Botanicals is one of the leading CBD and hemp-derived brands and e-commerce platforms in the country. Subject to compliance with all applicable US federal and state laws and stock exchange rules, Village Farms plans to enter the US high-THC cannabis market via multiple strategies, leveraging one of the largest greenhouse operations in the country (more than 5.5 million square feet in West Texas), as well as the operational and product expertise gained through Pure Sunfarms' cannabis success in Canada.
Village Farms Clean Energy (VFCE), through a partnership with Atlanta-based Terreva Renewables, creates clean energy from landfill gas at its Delta RNG facility. VFCE receives royalties on all revenue generated. This partnership reduces Vancouver’s greenhouse gas emissions by 475,000 metric tons of CO2 per year, equivalent to removing more than 100,000 vehicles off the road or the energy use equivalent of powering 51,300 homes for one year.
Cautionary Statement Regarding Forward-Looking Information
As used in this Press Release, the terms “Village Farms”, “Village Farms International”, the “Company”, “we”, “us”, “our” and similar references refer to Village Farms International, Inc. and our consolidated subsidiaries, and the term “Common Shares” refers to our common shares, no par value. Our financial information is presented in U.S. dollars and all references in this Press Release to “$” means U.S. dollars and all references to “C$” means Canadian dollars.
This Press Release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995, Section 27A of the U.S. Securities Act of 1933, as amended, (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and is subject to the safe harbor created by those sections. This Press Release also contains "forward-looking information" within the meaning of applicable Canadian securities laws. We refer to such forward-looking statements and forward-looking information collectively as "forward-looking statements". Forward-looking statements may relate to the Company's future outlook or financial position and anticipated events or results and may include statements regarding the financial position, business strategy, budgets, expansion plans, litigation, projected production, projected costs, capital expenditures, financial results, taxes, plans and objectives of or involving the Company. Particularly, statements regarding future results, performance, achievements, prospects or opportunities for the Company, the greenhouse vegetable or produce industry, the cannabis industry and market and our energy segment are forward-looking statements. In some cases, forward-looking information can be identified by such terms as "can", "outlook", "may", "might", "will", "could", "should", "would", "occur", "expect", "plan", "anticipate", "believe", "intend", "try", "estimate", "predict", "potential", "continue", "likely", "schedule", "objectives", or the negative or grammatical variation thereof or other similar expressions concerning matters that are not historical facts. The forward-looking statements in this Press Release are subject to risks that may include, but are not limited to: our limited operating history in the cannabis and cannabinoids industry, including that of Pure Sunfarms, Corp. (“Pure Sunfarms”), Rose LifeScience Inc. (“Rose” or “Rose LifeScience”) and Balanced Health Botanicals, LLC (“Balanced Health”); the limited operational history of the Delta RNG Project in our energy segment; the legal status of the cannabis business of Pure Sunfarms and Rose and the hemp business of Balanced Health and uncertainty regarding the legality and regulatory status of cannabis in the United States; risks relating to the integration of Balanced Health and Rose into our consolidated business; risks relating to obtaining additional financing on acceptable terms, including our dependence upon credit facilities and dilutive transactions; potential difficulties in achieving and/or maintaining profitability; variability of product pricing; risks inherent in the cannabis, hemp, CBD, cannabinoids, and agricultural businesses; our market position and competitive position; our ability to leverage current business relationships for future business involving hemp and cannabinoids; the ability of Pure Sunfarms and Rose to cultivate and distribute cannabis in Canada; existing and new governmental regulations, including risks related to regulatory compliance and regarding obtaining and maintaining licenses required under the Cannabis Act (Canada), the Criminal Code and other Acts, S.C. 2018, C. 16 (Canada) for its Canadian operational facilities, and changes in our regulatory requirements; legal and operational risks relating to expected conversion of our greenhouses to cannabis production in Canada and in the United States; risks related to rules and regulations at the U.S. Federal (Food and Drug Administration and United States Department of Agriculture), state and municipal levels with respect to produce and hemp, cannabidiol-based products commercialization; retail consolidation, technological advances and other forms of competition; transportation disruptions; product liability and other potential litigation; retention of key executives; labor issues; uninsured and underinsured losses; vulnerability to rising energy costs; inflationary effects on costs of cultivation and transportation; recessionary effects on demand of our products; environmental, health and safety risks, foreign exchange exposure, risks associated with cross-border trade; difficulties in managing our growth; restrictive covenants under our credit facilities; natural catastrophes; elevated interest rates; and tax risks.
The Company has based these forward-looking statements on factors and assumptions about future events and financial trends that it believes may affect its financial condition, results of operations, business strategy and financial needs. Although the forward-looking statements contained in this Press Release are based upon assumptions that management believes are reasonable based on information currently available to management, there can be no assurance that actual results will be consistent with these forward-looking statements. Forward-looking statements necessarily involve known and unknown risks and uncertainties, many of which are beyond the Company's control, which may cause the Company's or the industry's actual results, performance, achievements, prospects and opportunities in future periods to differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, the factors contained in the Company's filings with securities regulators, including the Company’s most recently filed Quarterly Report on Form 10-Q and the Company’s most recently filed annual report on Form 10-K.
When relying on forward-looking statements to make decisions, the Company cautions readers not to place undue reliance on these statements, as forward-looking statements involve significant risks and uncertainties and should not be read as guarantees of future results, performance, achievements, prospects and opportunities. The forward-looking statements made in this Press Release relate only to events or information as of the date on which the statements are made in this Press Release. Except as required by law, the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.
- Hifyre data 2021-2024
- New Zealand Cannabis Pharmaceuticals Market Size & Outlook – Grand View Research
Contact Information
Sam Gibbons
Senior Vice President, Corporate Affairs
Village Farms International
Phone: (407) 936-1190 ext. 328
Email: sgibbons@villagefarms.com
A photo accompanying this announcement is available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/c0263b75-2f12-441a-a3d1-174b3e8a4783
FAQ
What is the projected growth rate for New Zealand's cannabis market by 2030?
Which product is Village Farms (VFF) introducing to the New Zealand market?
Who will distribute Village Farms' cannabis products in New Zealand?
What is the significance of VFF's expansion into New Zealand for the company?
