Village Farms Sells Its Produce Business

Village Farms International Announces Closing of Transaction to Privatize its Fresh Produce Business

Closing of transaction places Company in net cash position, poised for leadership in global cannabis industry
Company plans to file proforma financial statements excluding discontinued operations within four business days

VANCOUVER, British Columbia, June 02, 2025 (GLOBE NEWSWIRE) — Village Farms International, Inc. (“Village Farms” or the “Company”) (NASDAQ: VFF) today announced that its pending transaction to privatize the majority of its fresh produce business closed on May 30, 2025. The transaction transforms Village Farms into a powerful global cannabis expansion platform with ownership of 160 acres of advanced greenhouse facilities, increasing exposure to international markets through the combination of its export sales and Netherlands operating assets, and incremental upside opportunity through its ownership interest in Vanguard Food LP.

Today marks the beginning of an exciting new chapter for Village Farms. For the past eight years we have carefully built our cannabis business based upon our learnings from over 35 years in controlled environment agriculture, and now we are ready to move forward independently from produce.

Michael A. DeGiglio, Chief Executive Officer of Village Farms

We have established an immensely talented team of cannabis leaders across the organization, and I look forward to watching more of our accomplishments unfold together as we invest more time and resources to become one of the world’s largest and most respected cannabis operators.

The Company expects to file unaudited pro forma condensed consolidated financial information to illustrate the effect of the transaction on the three-month period ended March 31, 2025, as well as for the years ended December 31, 2024 and 2023, within the next four business days.

About Village Farms International

Village Farms leverages decades of experience in Controlled Environment Agriculture as a large-scale, vertically-integrated supplier of high-value, high-growth plant-based Consumer Packaged Goods. The Company built a strong foundation as the leading and longest-tenured fresh produce supplier to grocery and large-format retailers throughout the US and Canada, but now focuses its agricultural expertise on high-growth cannabinoid opportunities internationally.

In Canada, the Company’s wholly owned Canadian subsidiary, Pure Sunfarms, is one of the single largest cannabis operations in the world (2.2 million square feet of greenhouse production), the lowest-cost producer and one of Canada’s best-selling brands. The Company owns an incremental 2.6 million square feet of greenhouse capacity in Canada for future expansion, and also owns 80% of Québec-based, Rose LifeScience, a leader in the commercialization of cannabis products.

Internationally, Village Farms is targeting selected, nascent, legal cannabis opportunities with significant growth potential. The Company exports medical cannabis from its EU GMP certified facility in Canada to international markets including Germany, the United Kingdom, Israel, Australia, and New Zealand. The Company is expanding its export business to new countries and customers, and making select investments in international production assets. In Europe, wholly-owned Leli Holland has one of 10 licenses to grow and distribute recreational cannabis within the Dutch Coffee Shop Experiment.

In the US, wholly-owned Balanced Health Botanicals is one of the leading CBD and hemp-derived brands and e-commerce platforms in the country. Subject to compliance with all applicable US federal and state laws and stock exchange rules, Village Farms plans to enter the US THC market via multiple strategies, leveraging its Texas-based greenhouse assets (2.2 million square feet of existing greenhouse capacity and 950 acres of owned, unoccupied land for future expansion).

Village Farms Clean Energy (VFCE), through a partnership with Atlanta-based Terreva Renewables, creates renewable natural gas from landfill gas at its Delta RNG facility. VFCE receives royalties on all revenue generated. This partnership reduces Vancouver’s greenhouse gas emissions by 475,000 metric tons of CO2 per year, equivalent to removing more than 100,000 vehicles off the road or the energy use equivalent of powering 51,300 homes for one year.

The Company also holds a 37.9 percent equity ownership stake in Vanguard Food LP, a privately held joint venture with private investment firms which seeks to create a premier branded CPG foods company through M&A. Vanguard Food LP expects to continue acquiring other produce assets and operations with the support of its private investment firm partners, and will review various products and companies across many production methods while expanding its platform.

Original press release

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