10:34:25 EDT Sun 05 May 2024
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or Name
USA
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Organto Foods Inc (2)
Symbol OGO
Shares Issued 28,568,382
Close 2023-10-30 C$ 0.305
Market Cap C$ 8,713,357
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Organto Foods forms partnership with Alpasa Farms

2023-10-31 11:13 ET - News Release

Mr. Steve Bromley reports

ORGANTO ESTABLISHES STRATEGIC PARTNERSHIP AGREEMENT WITH ESTABLISHED MEXICO BASED PRODUCER

Organto Foods Inc. has entered into a strategic partnership with Mexico-based Alpasa Farms S de RL de CV. This strategic partnership aims to facilitate expansion of each company's operating platforms by leveraging their respective strengths and capabilities, with a focus on the North American and European markets.

Key areas of collaboration:

  • Sales expansion: Leveraging each company's current geographic selling focus, with an initial goal of facilitating Organto's entry into the U.S. market and concurrently expanding Alpasa's distribution network;
  • Sourcing expansion: Leveraging each company's diverse sourcing and supply capabilities to benefit existing growers and expand market presence;
  • Branding: Collaborative branding efforts to assist both companies in establishing a stronger presence in their target markets;
  • Digital artificial intelligence implementation for traceability and supply chain efficiencies: Incorporating digital AI solutions into traceability and supply chain management leading to enhanced efficiency, transparency and waste reduction;
  • Organic certification: Leveraging each party's focus on sustainable and transparent organic farming practices, this partnership underscores a commitment to leverage processes of each company in driving best practices.

Alpasa is a multigenerational family-owned and operated commercial farming and marketing organization located in the state of Miochoacan, Mexico. It has dedicated many years to the production and distribution of the highest-quality fresh fruits while complying with the highest global food standards and certification practices. Alpasa is recognized as a local leader in growing and distributing both organic and non-GMO (genetically modified organism) blueberries, blackberries, raspberries, figs and avocados on a global scale.

Alejandro Moldonado, an owner of Alpasa and a director of Organto Foods, commented: "We have been supplying both organic and non-GMO products to the U.S. and Europe for many years and look to continue to expand our business on a global basis. We are hopeful that this new strategic partnership with Organto will allow us to collaborate and leverage our industry knowledge to efficiently expand our businesses while respecting our diverse capabilities."

Steve Bromley, chair and co-chief executive officer of Organto Foods, and Rients van der Wal, co-CEO of Organto Foods and CEO of Organto Europe BV, commented: "We have known and worked with the Alpasa team for a number of years and respect and admire the business they have built. As we grow, we are confident that we can share capabilities and best practices and in doing so leverage our respective platforms to drive profitable future growth."

Organto is an integrated provider of branded, private-label and distributed organic and non-GMO fruit and vegetable products serving the growing global demand for healthy and socially responsible foods. Organto operates a strategic and flexible asset-light business model, sourcing products from five continents, and using its certification, supply chain, marketing and distribution expertise currently brings products to markets across Europe and recently announced its first sales into Asia, with plans to enter the North American market. Organto markets a number of branded product offerings, including its flagship I AM Organic brand. Organto has realized 16 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 fuelled by a combination of strong internal growth and acquisitions.

About Organto Foods Inc.

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.

We seek Safe Harbor.

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