Village Farms increases marketing opportunities

February 21, 2009
Written by Canada Newswire
Feb. 21, 2009, Vancouver — Village Farms Income Fund has sold its Ringgold Greenhouse Facility, located in Ringgold, Pennsylvania. The sale integrates a marketing agreement in which Village Farms will continue the marketing, sales and distribution for the Ringgold facility as well as for another greenhouse facility of the buyer, Intergrow Portageville Inc., located in Portageville, NY.

villagefarms_r2_c17Ringgold has been owned and operated by Village Farms since 1993. The sale is integral to Village Farms’ strategic plan focused on large-scale greenhouse operations with advancing technologies that provide year-round production. This sale represents Village Farms’ third and final sale of their small greenhouse facility assets. The Fund recorded a small gain on the sale.

The buyer, Mario van Logten, is a former employee of Village Farms, who over the course of 15 years has operated three greenhouses, including the Ringgold facility for Village Farms. Van Logten has additional greenhouse facilities, including part ownership in Intergrow Portageville Inc., located in Portageville, N.Y., in the greater Buffalo/Rochester area.

Village Farms will continue to market, sell and distribute under the Village Farms® brand all of Ringgold’s Greenhouse production as per a longterm marketing agreement. In addition, Village Farms will also begin marketing under the Village Farms brand for all of van Logten’s Intergrow Portageville Inc. greenhouse production as well.

Village Farms is the largest producer, marketer and distributor of premium-quality, greenhouse-grown tomatoes, bell peppers and cucumbers in North America. Since its inception, Village Farms has been guided by sustainable agricultural principles which integrate three main goals: environmental health, economic profitability, and social and economic equality.

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