Leverages Capabilities of Previously Acquired Fresh Organic Choice BV To Synergistically Expand Branded Products Portfolio
VANCOUVER, BC and BREDA, the NETHERLANDS / ACCESSWIRE / November 18, 2021 / Organto Foods Inc. (TSXV:OGO)(OTC PINK:OGOFF)(FSE:OGF) ("Organto" or "the Company"), an integrated provider of organic and value-added organic fruits and vegetables, today announced that it has extended its range of I AM Organic branded products, listing for a broad range of fresh cut organic herbs with Gorillas® (www.gorillas.io), Europe's fastest growing company in instant on-demand grocery delivery.
Highlights:
- Addition of nine fresh cut organic herbs to product line-up for Gorillas®
- Permanent addition of packaged fresh cut herbs to I AM Organic branded products portfolio supported by unique digital passport technology
- Leverages deep sourcing, supply and product capabilities of Fresh Organic Choice BV ("Fresh Organic Choice") which was acquired in January 2021.
"We are very pleased to be expanding our partnership with Gorillas®, allowing us to further build on our mission of making organic fruits and vegetables available for every consumer, and in doing so, build our I AM Organic brand. Our initial partnership has proven to be very successful in servicing today's consumers who are demanding high-quality, convenient products with a transparent and engaging story. Our products have a great story to tell, a story we believe will be well communicated via our digital product passports." commented Rients van der Wal, Co-CEO of Organto Foods Inc. and CEO of Organto Europe B.V. "It is also very exciting to realize on our strategic objective of leveraging the capabilities of acquired companies to drive branded product synergies. The addition of fresh cut herbs to our I AM Organic product portfolio does just that, leveraging the product capabilities of Fresh Organic Choice which was acquired earlier this year."
Listing With Gorillas®
The listing with Gorillas® will increase the number of products offered beyond the initial listing of healthy, high-quality organic bananas and seasonal assorted fresh cut fruits to include nine fresh cut organic herbs including I AM Organic chives, I AM Organic coriander, I AM Organic dill, I AM Organic mint, I AM Organic oregano, I AM Organic flat parsley, I AM Organic curly parsley, I AM Organic rosemary and I AM Organic thyme. In addition, the existing convenience fruit assortment will be extended with single fruits including I AM Organic single apples, I AM Organic single pears, I AM Organic single limes and I AM Organic raspberries in on-the-go shaker cup.
Gorillas promotes limited but frequent food purchases delivered by electric bikes to increase conscious consumption, reduce food waste, and limit local CO2 emissions. One of Gorillas priorities is to deliver high-quality products to consumers, and thanks to a vertically integrated supply chain, is able to deliver its fruits and vegetables faster than traditional supermarkets, resulting in fresher products with optimised nutritional value.
All products supplied are being sourced from Organto's supply network consisting of growers in Europe, Latin America and around the globe. Together with its valued strategic growers and supply chain partners, Organto controls and monitors each step in the supply chain, offering 100% transparency to consumers via the Company's proprietary digital product passports.
Acquisition of Fresh Organic Choice
As part of its acquisition strategy, Organto aims to acquire profitable and growing businesses that will extend the Company's product offering, customers serviced and geographic footprint, with a focus on opportunities where supply capabilities can be leveraged to expand Organto's value-added branded products footprint.
Fresh Organic Choice was acquired in January 2021, and since the acquisition the commercial teams have successfully aligned go-to-market strategies and expanded the number of European markets offering fresh cut organic herbs. In addition, back-end administrative and financial processes have been consolidated and streamlined. Revenues have shown steady growth and the listing with Gorillas® and roll-out of the I AM Organic brand is expected to continue this steady growth trajectory.
Fresh Organic Choice utilizes an asset light business model to provide of a full range of year-round fresh cut organic herbs, marketed under the Fresh Organic Choice brand and now the I AM Organic brand. Products include fresh cut packaged mint, oregano, basil, chives, parsley, dill, thyme, rosemary, sage, tarragon and others, which are sold in a wide range of branded packaged and bulk formats. Product is sourced primarily from strategic local growers in the Netherlands, Germany, Spain, Italy, Germany and Portugal, with additional sourcing programs being developed in Tunisia.
Organto's long-term growth strategy is to build an ethics driven "one-stop shop" in fresh organic and specialty fruits and vegetables, fueled by a combination of strong internal growth and acquisitions. This long-term growth strategy is anchored by three core operational strategies: build supply, build brands and build infrastructure. This extension of I AM Organic branded products at Gorillas and the introduction of branded I AM Organic fresh cut herbs expedites Organto's efforts in strategically building out its brands across its product portfolio.
ON BEHALF OF THE BOARD,
Steve Bromley
Chair and Co-Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
For more information about Organto contact:
Investor Relations
info@organto.com
For more information about Gorillas, see their website at www.gorillas.io
ABOUT ORGANTO
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.
FORWARD LOOKING STATEMENTS
This news release may include certain forward-looking information and statements, as defined by law including without limitation Canadian securities laws and the "safe harbor" provisions of the US Private Securities Litigation Reform Act of 1995 ("forward-looking statements"). In particular, and without limitation, this news release contains forward-looking statements respecting Organto's business model and markets; Organto's belief that it can bring added-value to consumers via its unique product offering and branded I AM Organic digital passport technology; Organto's belief that partnering with Gorillas will further Organto's mission of making organic fruits and vegetables available for every consumer, and in doing so build the I AM Organic brand; Organto's belief that it's story is well communicated through it's digital product passports; Organto's belief that the addition of branded I AM Organic fresh cut organic herbs leverages the product capabilities of Fresh Organic Choice; management's beliefs, assumptions and expectations; and general business and economic conditions. Forward-looking statements are based on a number of assumptions that may prove to be incorrect, including without limitation assumptions about the following: the ability and time frame within which Organto's business model will be implemented and product supply will be increased; cost increases; dependence on suppliers, partners and contractual counter-parties; changes in the business or prospects of Organto; unforeseen circumstances; risks associated with the organic produce business generally, including inclement weather, unfavorable growing conditions, low crop yields, variations in crop quality, spoilage, import and export laws and similar risks; transportation costs and risks; general business and economic conditions; and ongoing relations with distributors, customers, employees, suppliers, consultants, contractors and partners. The foregoing list is not exhaustive and Organto undertakes no obligation to update any of the foregoing except as required by law.
SOURCE: Organto Foods Inc.
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