Village Farms International is divesting its fresh produce business to focus solely on its cannabis operations.
The move will allow Village Farms to increase its exposure to international cannabis markets through its export sales and Netherlands operating assets while maintaining incremental upside through its ownership in Vanguard Food, according to a Monday news release.
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Vanguard Food is a privately held “joint venture between Kennedy Lewis Investment Management, Sweat Equities, and Village Farms International,” according to a separate news release.
“Today marks the beginning of an exciting new chapter for Village Farms,” CEO Michael DeGiglio said in a statement.
“For the past eight years, we have carefully built our cannabis business based upon our learnings from over 35 years in controlled environment agriculture,
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