Village Farms International Inc
Village Farms International Inc
Sector: Food & Beverages
Description
Village Farms International Inc operates as a greenhouse grower for cucumbers, tomatoes and bell peppers in North America.
It also operates one of the largest vertically integrated greenhouse facilities that produces and distributes the products to retail supermarket and other food companies. It claims to develop high-quality premium products and distributes them to the greenhouse centers in Mexico, Ontario, and British Columbia.
The company further claims to maintain product quality by following international food safety standards.
Village farm also aims to maintain a solid balance sheet and provide the produce year-round.
The consumer-focused company operates under three reportable segments: Produce segment, Energy segment and Cannabis segment.
Produce segment offers packaging solutions and a wide range of assorted greenhouse cucumbers, bell peppers and tomatoes, including maverick mix tomatoes, sinfully sweet Campari tomatoes, larabella blossoms tomatoes, etc. It also provides mini cucumbers, seedless long English cumbers and sweet bells peppers.
The company claims that the vegetables are picked up by hands and delivered fresh to local grocers.
Village Farms International says that in its greenhouse facility, the crop is grown with adequate temperature and protection from bad weather and pests. In addition, it claims its greenhouse facility uses water judiciously and uses less land to grow organic products.
Energy Segment
The company through its wholly owned subsidiary, VF Clean Energy Inc (VFCE), operates a seven megawatts plant that captures gas from the landfill and converts it into thermal heat.
In 2020, VFCE inked a pact with Mas Energy, LLC, wherein the latter will own, operate, build, finance and design the Delta RNG facility.
Village Farms' and Pure Sunfarms’ Delta greenhouses will benefit and improved earning profiles by lowering ongoing capital expenditure requirements, the company further claims.
Through the new venture, the Canadian company aims to convert landfill gas into renewable natural gas and accelerate its commitment in addressing climate emergency and reducing carbon emissions in Vancouver by 50 per by 2030.
In February 2021, Village Farms announced an additional equity investment in Altum International, one of the leading cannabinoid platforms. The company believes that its investment in Atlum will allow participation in the Asia-Pacific region.
Through its subsidiary, Pure Sunfarms, the company aims to become a leading supplier and producer in the hemp-derived CBD market in the United States.
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