02:50:06 EDT Thu 28 May 2020
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Organto Foods Inc
Symbol OGO
Shares Issued 170,450,893
Close 2019-09-17 C$ 0.05
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Organto begins working with Colombian avocado grower

2019-09-18 08:52 ET - News Release

Mr. Steve Bromley reports


Organto Foods Inc. has expanded its avocado supply chain with the addition of a strategic grower based in Colombia.

Shipments have commenced and commercial distribution in European markets is expected to start during the week of Sept. 24. Initially, Organto will receive weekly volumes of approximately 20,000 kilograms and expects to realize selling prices ranging from $4.25 to $5.25 per kg dependent upon product size, packaging format and distribution point. Shipments are expected to run for the duration of the Colombian season and end in February, 2020.

"Demand for avocado continues to grow globally due to its nutrient dense nutritional profile. Avocado contains heart-healthy monounsaturated fat, are naturally sodium, sugar and cholesterol free, are high in dietary fibre, contains vitamins A, B, C, E and K, and also contains phytochemicals and antioxidants. Avocado has been described as the millennial generation's favourite fruit, leading to strong global demand for the fruit," commented Rients van der Wal, chief executive officer of Organto Europe BV. "We view avocado as a key product in our growing vegetable and fruits portfolio, and the addition of this new strategic supply source is very important as we work to develop our year-round supply capabilities to meet demand."

Over the past year, Organto has repositioned its organic foods platform shifting from an asset heavy, single revenue stream business model, to an asset light, multistream business model. The company has made important progress in executing its plans including exiting company-owned growing operations, selling its vegetable processing facilities in Guatemala (subject to shareholder approval) and exiting company-operated packaging operations in the Netherlands, all in favour of strategic sourcing arrangements with grower partners in Peru, Argentina, Mexico, Zimbabwe and others, and third party processing and packaging arrangements with globally positioned strategic partners. The expansion of avocado supply to Colombia aligns with Organto's supply chain expansion goals as it pursues new strategic supply sources intended to complete year-round supply of its core product offerings and also bring new complementary products to its existing portfolio.

About Organto Foods Inc.

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. The Organto foods group is an integrated provider of year-round value-added branded organic vegetables and seasonal organic and non-GMO (genetically modified organism) fruit and vegetable products using an asset-light business model to serve a growing socially responsible and health conscious consumer around the globe.

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