Opportunity to Leverage Distribution and Branding Expertise in Large and Growing Convenience Category
VANCOUVER, BC and BREDA, THE NETHERLANDS / ACCESSWIRE / September 2, 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 added a broad assortment of organic fresh cut fruits to its growing product portfolio.
The fresh cut organic fruits being added to the portfolio include red apples, grapes, mango, pineapple, blueberries and raspberries, with further products expected to be added based on market demand. Products are being sourced from growers in Europe and Latin America, and will be available on a year-round basis. Further processing and packaging of raw materials will take place in Europe via strategic partners, with packaging formats including a 100% recyclable transparent pouch or cup style shaker. Organto will control and monitor each step in the supply chain, offering 100% transparency to consumers utilizing the Company's branded I AM Organic digital passport technology which uses QR-codes to connect consumers with product details including origin, carbon footprint, nutritional profile, and more.
"We are excited to add organic fresh cut fruits to our growing I AM Organic branded portfolio, as we continue our efforts to expand our value-added branded products portfolio and build out an ethics driven one-stop shop for fresh organic fruits and vegetables. With demand for healthy and convenient snacking options continuing to grow, we believe now is the right time to bring these products to the market. We are targeting to offer the best possible taste and experience, combined with a carbon neutral footprint. As we like to say, "together we can eat the world better"." commented Rients van der Wal, Co-CEO of Organto and CEO of Organto Europe B.V. "We believe organic fresh cut fruits are a growing category, and we feel we can bring added value to consumers via our unique product offering and digital passport technology. Our organic fresh cut fruits are available in a convenient on-the-go format using an unconventional, impactful branded pack design with a striking, playful look and feel."
Organto is targeting to grow sales of organic fresh cut fruits to an approximate CDN $2.5 to $3.51 million annual run-rate over the next year, with the objective of increasing the organic fresh cut fruit category to annualized revenues of approximately $10.0 million as the Company builds out its supply sources and expands its customer base over time.
1Forecast is based on shipping organic fresh cut fruits at sales price ranging from CDN$11.50/kg to $25.00/kg of sold product.
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 contact:
Investor Relations
info@organto.com
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 demand for healthy and convenient snacking options continues to grow; Organto's belief that they can bring added-value to consumers via its unique product offering and branded I AM Organic digital passport technology; Organto's belief that fresh cut organic fruits are a growing category; Organto's belief that sales of organic fresh cut fruits will grow to an annualized run rate of CDN $2.5 to $3.5 million over the next year and to annualized revenues of approximately $10.0 million over time; 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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